Montgomery Ward To Close 39 Stores

Sat., Jan. 16, 1999

From Staff

Montgomery Ward & Co. Inc. will close 39 stores and cut about 4,000 jobs as part of a restructuring plan aimed at boosting the struggling retailer’s sales and profits.

The Chicago-based company said late Friday it will also close 17 Auto Express locations, but the stores adjacent to them will remain open. Ward’s plans additional layoffs of administrative staff at its headquarters in the next few weeks.

The 127-year-old privately-owned retailer has been operating under Chapter 11 bankruptcy reorganization since July 1997. The closings, which are nationwide and are expected to be completed by May 31, are subject to bankruptcy court approval.

Niether Washington nor Idaho were listed as states where closures were planned.

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Montgomery Ward To Close 39 Stores

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