Going Out of Business Sale on Tap for Montgomery Ward - Brief Article

Brandweek,  Jan 1, 2001  

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CHICAGO--Montgomery Ward, citing weak holiday sales and a difficult retail environment, is ending operations after 128 years; the firm filed for Chapter 11 bankruptcy protection for the second time in three years. The retailer, a fully owned unit of GE Capital, suspended unpaid vendor deliveries and eliminated 450 national office jobs.

Another 28,000 store associates and other workers will lose their jobs within six months as 250 stores and 10 distribution centers in 30 states dose.

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