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Ames to liquidate as pressure grows on regional chains.(Ames Department Stores)
WWD
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August 15, 2002|
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COPYRIGHT 2002 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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NEW YORK -- The end of rocky road has come for another regional discounter.
Bankrupt Ames Department Stores, which had been hoping for a coming-out party this year, is now going out of business.
The struggling mass merchant said Wednesday it will liquidate and close all of its 327 store locations. Management and its board determined that asset values can best be maximized for the benefit of all creditors by putting a half to its operating losses by winding down the business, the company said in a statement.
Joseph R. Ettore, chairman and chief ...
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