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BRIEFLY

CHH plans to sell its 3 Broadway stores in Denver.

July 03, 1987

May Department Stores agreed to buy two of the Broadway-Southwest stores to convert into May D&F stores, and Montgomery Ward has an option to buy the third. The transactions, subject to execution of definitive agreements and other conditions, are expected to be completed in the third quarter. Separately, Montgomery Ward agreed to buy a May D&F store in the Denver area. The sales would leave Carter Hawley Hale Stores, which, according to an analyst, was losing money on the three Denver stores, with 10 Broadway-Southwest locations. The Los Angeles-based retailer, which has said it plans to sell assets in connection with its upcoming restructuring, did not disclose terms.

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