LYNWOOD — Negotiations between the City Council and officials of Montgomery Ward to keep the company's store here open has ended and the store will close as planned.
"As far as we are concerned discussions have ended and the store will close," Mayor Robert Henning said in an interview last week.
Henning's statement was confirmed by a spokesman for the retail chain.
"No arrangement was able to be worked out," said Charles H. Thorne, media relations manager for Montgomery Ward in Chicago.
The store was scheduled to close March 15, Thorne said.
The city had offered to provide the Chicago-based retailer with a $700,000 loan to help keep the 12-year-old outlet open, Henning said.
3-Year Guarantee Sought
However, Henning said, the offer had been rejected by Ward when the city insisted that Ward guarantee it would remain open for at least three years.