Levitz cuts jobs in downsizing effort
Article Abstract:
Levitz, which has been doing business under Chapter 11 bankruptcy protection since September 1997, has dismissed an unspecified number of employees as it closes outlets. According to Mike McCreery, who is the chief financial officer for the firm, the number of the affected employees was in accordance with an anticipated decline in sales volume that will be prompted by the firm's planned closures of 15 out of its 105 outlets. Since September 1997, Levitz has closed or sold 39 outlets. After the latest round of store closures, the firm will have 90 outlets to operate.
Comment:
Has dismissed an unspecified number of employees as it closes outlets
Publication Name: Furniture-Today
Subject: Home furnishings industry
ISSN: 0194-360X
Year: 1998
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Wickes steps up expansion plans
Article Abstract:
Midpriced retailer Wickes Furniture is promoting its expansion plans with a proposed opening of 21 to 30 new stores in the next three years after receiving cash from a new majority owner. John Klein, chief executive officer of Wickes, said that they aim to establish seven to 10 stores a year for the next three years, following their failure to launch a new store in 1998 due to real estate snags. Klein added that they are dedicating at least three stores for the company's new market by 1999, although the location was not disclosed.
Comment:
Is promoting its expansion plans with a proposed opening of 21 to 30 new stores in the next three years
Publication Name: Furniture-Today
Subject: Home furnishings industry
ISSN: 0194-360X
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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