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Ames To Close Stores
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Business New Haven
11/26/2001
By: BNH
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ROCKY HILL - Restructuring under bankruptcy protection, Ames Department Stores Inc. (OTC BB: AMESQ.OB) announced November 14 that it would close 16 stores in early 2002, affecting 1,000 employees mainly in the Midwest, Kentucky and Tennessee. The stores were to begin liquidation on November 25, the company said.
“In today's economic climate, we need our operations to be capable of making it through tough times,'' said Joseph Ettore, Ames' chairman and chief executive, in a statement. “In reviewing our operations, these stores have become candidates for closure.''
Ames, a full-line discount retailer with annual sales of more than $3 billion, has 403 stores, including 22 in Connecticut.
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