Montgomery Ward Sale Pondered

Tue., May 21, 1996

Compiled From Wire Services

Montgomery Ward Holding Corp. may sell all or part of the company, people close to the U.S. retailer said.

The 124-year-old company, purchased by General Electric Co.’s finance unit and management in a $3.8 billion leveraged buyout in 1988, said it’s evaluating “various methods that could bring new investments into the company,” according to spokeswoman Judy L. Gustafson.

Montgomery Ward managers, have sought a buyer or new investor for the past two months.

Selling is among several options being considered for Montgomery Ward, one of the biggest U.S. retailers. Others include raising more money from existing partners or selling shares of the company’s Signature Group direct-marketing unit in an initial stock offering. The company also said it plans to invest $60 million in seven new stores.

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Montgomery Ward Sale Pondered

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