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

Labor force information, Furniture Stores, Levitz Furniture Inc.

---

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

Furniture & Furnishings Stores, Furniture and Home Furnishings Stores, Wickes Furniture Company Inc.

---

Similar abstracts:

• Abstracts: University Loft buys big Masco plant. Genesis to buy ex-Henredon plant. Linder's buys Legacy
• Abstracts: 100 Angels seeks items to assist relief efforts. Griest consults on Southern collections
• Abstracts: Outdoor lines look indoors. Upholstery, chair plants lead way
• Abstracts: Steiff unveils new baby collection for U.S. Texas Kid Co. plays up state ties. Baby Town goes beyond infant items
• Abstracts: 'New Restonic' on move. Banner stays true to family roots

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.