Federated Rejects Bids For Seven Stores

Thu., July 18, 1996

From Staff And Wire Reports

Federated Department Stores Inc. said Wednesday it did not receive any acceptable bids for seven stores intended to sell in California.

The Cincinnati-based retailer said it received seven sealed bids for the California stores during the 30-day bidding process. Federated would not disclose the bidders or the bid amounts.

Federated said it has notified California Attorney General Daniel E. Lungren that none of the bids satisfied requirements for sale of the stores, as established in the agreement with Lungren.

Federated, which also is the parent company of The Bon Marche, said it will keep all seven stores for now.

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Federated Rejects Bids For Seven Stores

Jesse Tinsley

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