Ames Announces 47 Store Closings
ROCKY HILL, Conn., Aug 16, 2001 (BUSINESS WIRE) -- Ames Department
Stores, Inc. (AMES) announced today that it will close 47 store locations.
The stores will immediately begin liquidation and are expected to close by
the end of October.
"We've continued to see a softening economy in the last several months and
don't anticipate much improvement in the short term. In keeping with our
ongoing review of operations, these stores have now become candidates for
closure. Closing stores is always difficult, especially for those associates
directly impacted by the closings. Wherever possible, we will find
opportunities for these associates in markets with ongoing Ames locations,"
said Joseph R. Ettore, Ames' Chairman & CEO. "In this tough economic
climate," he added, "we feel that it is in the Company's best interest to put
our efforts into our viable core business which represents just over 400 store
locations."
The store closings will affect some 2,000 employees in 10 markets. A
complete listing of all the closing stores is attached and can also be found on
our website at www.AmesStores.com.
Ames Department Stores, Inc., a FORTUNE 500(R) company, is the nation's
largest regional, full-line discount retailer with annual sales of approximately
$4 billion. With 452 stores in the Northeast, Mid-Atlantic and Mid-West,
Ames offers value-conscious shoppers quality, name-brand products across
a broad range of merchandise categories. For more information about Ames,
visit www.AmesStores.com or www.AmesStores.com/espanol.
To find the location of the Ames store nearest you, dial 1-800-SHOP-AMES.
Cautionary Statement Regarding Forward-looking Information
Statements, other than those based on historical facts which address
activities, events, or developments that the Company expects or anticipates
may occur in the future are forward-looking statements which are based upon
a number of assumptions concerning further conditions that may ultimately
prove to be inaccurate. Actual events and results may materially differ from
anticipated results described in any forward-looking statements. The
Company's ability to achieve such results is subject to certain risks and
uncertainties. Consequently, these cautionary statements qualify all of the
forward-looking statements and there can be no assurance that the results or
developments anticipated by the Company will be realized or that they will
have the expected effects on the Company or its business or operations.
CLOSING STORES ILLINOIS (3) Chicago - 3445 South Martin Luther King
Drive Danville - 3363 N. Vermillion St. Wheaton - Main Street Plaza Shopping
Center, 288 E. Geneva Rd. INDIANA (6) Anderson - 2100 S. Scatterfield Rd.
Kokomo - Maple Crest Shopping Center, 2947 S. Washington St. Marion -
One North Park Mall, 1129 N. Baldwin Ave. New Castle - New Castle Plaza,
127 S. Memorial Dr. Terre Haute - Plaza North Shopping Center, 119 Fort
Harrison Rd. Terre Haute - Riverside Plaza, 3500 S. US Hwy 41 MAINE (1)
Newport - 26 Main St. MARYLAND (1) Salisbury - 258 Tilghman Rd. NEW
YORK (3) Buffalo - 2232 Delaware Ave. Ticonderoga - 1171 NYS Rte. 9N
Williamsville - Clarence Mall, 4401 Transit Road NORTH CAROLINA (1)
Wilmington - Long Leaf Mall, 4302 Shipyard Blvd. OHIO (15) Akron - 2375
Romig Rd. Amherst - 190 Milestone Ln. Bedford - 456 Northfield Rd. Canton -
3200 Atlantic Blvd. NE Defiance - 1800 N. Clinton St. Heath - Indian Mound
Mall, 771 S. 30th St. Logan - 32 Hocking Mall Marietta - 450 Pike St.
Massilon - 1970 Lincoln Way East Mt. Vernon - 1010 Coshocton Ave.
Northwood - 3700 Williston Rd. St. Clairsville - 67501 Mall Ring Rd.
Steubenville - Fort Steuben Mall, 100 Mall Dr. Toledo - Alexis-Lewis Shopping
Center, 1136 W. Alexis Rd. Willowick - Shoregate Shopping Plaza, 29400
Lakeshore Blvd. PENNSYLVANIA (12) Bradford - Bradford Mall, 1001 E. Main
St. Clearfield - Clearfield Mall, 1854 Daisy St. Ebensburg - Terra Step Plaza,
Hwy 22, RD# 4 Erie - 2080 Interchange Rd. Gibsonia - 5375 William Flynn
Hwy. Hermitage - 2996 E. State St. Johnstown - Richland Mall, 3200 Elton
Rd. Mill Hall - 284 Hogan Blvd. New Castle - 2522 W. State St. Philadelphia -
Boulevard Plaza, 11000 Roosevelt Blvd. Warminster - Center Point Place,
908 West St. West Mifflin - Kennywood Mall, 1300 Hoffman Blvd. VIRGINIA
(4) Chesapeake - Chesapeake Crossing Shopping Ctr., 1943 South Military
Hwy. Danville - Piedmont Mall, 325 Piedmont Dr. Roanoke - 2935
Hershberger Rd. NW Virginia Beach - 2866 Virginia Beach Blvd. WEST
VIRGINIA (1) Fairmont - Middletown Mall, 2500 Fairmont Ave.
CONTACT: Ames Department Stores Mary McCabe, 860/257-2590 Amy
Romano, 860/257-5319URL: businesswire.comtoday's News On
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Copyright (C) 2001 Business Wire. All rights reserved.
KEYWORD: CONNECTICUTINDUSTRY KEYWORD: RETAIL SOURCE:
Ames Department Stores
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