March 27, 2001 |
Sears, Roebuck & Co. plans to buy 18 former Montgomery Ward department stores and 10 auto centers from the bankrupt retailer. The stores to be purchased include one in Huntington Beach and three in Northern California. Sears plans to convert four of the Ward's locations to Great Indoors stores, Sears' remodeling and decorating retail concept. Fourteen of the former Ward's locations will be converted to Sears stores, with Sears Auto Centers attached to three of those stores.
December 20, 1985
The retailer said low sales prompted the decision to close the stores at the end of February. The 10 stores have 845 full-time employees. The Mobil subsidiary, which shut down 300 catalogue stores and eliminated 1,200 jobs earlier this year, said it is considering closing other stores. Stores to be closed are in Decatur, Ill.; Durango, Colo.; Cedar Falls, Iowa; Emporia, Kan.; Allen Park, Mich.; Poplar Bluff and Sedalia, Mo.; Durham, N.C.; Lima, Ohio, and LaCrosse, Wis.
May 8, 1985
Standard & Poor's said it placed some $1.2 billion of long-term debt of Montgomery Ward, Montgomery Ward Credit and Marcor Holding on Creditwatch "with negative implications." Mobil plans to divest its Montgomery Ward subsidiary after reorganizing it into a smaller retail business.
January 22, 1988 |
Montgomery Ward & Co., the revitalized 115-year-old department store chain, may be put up for sale, its parent said Thursday. Potential transactions reportedly include a buyout by senior management. "A leveraged buyout would make sense," said Karen Sack, a retail analyst with Standard & Poor's Corp. in New York. "I think management obviously has proved themselves in turning the company around . . . and refocusing their strategy as a special retailer."
February 1, 1994 |
Montgomery Ward & Co., the huge Chicago-based retailing chain, has agreed to pay $310,000 in civil penalties to settle a false-advertising lawsuit filed in June by the Orange County district attorney's office. It is the third time in a decade that the company has been ordered by California courts to halt misleading advertising. Monday's settlement includes a permanent injunction that applies to all of the company's stores in California and prohibits misleading advertising tactics.
December 29, 2000 |
Montgomery Ward Inc., the country's first catalog retailer, said Thursday it will close up shop after 128 years in business and numerous attempts to reinvent itself. Just 18 months after emerging from bankruptcy, Wards' Chairman and Chief Executive Roger Goddu said weak holiday sales and a tough retail environment clinched the decision to shut the 250-store chain. "Sadly, today's action is unavoidable," Goddu said in a news release.
January 9, 1986 |
City officials Tuesday met with local representatives of Montgomery Ward in a last-ditch effort to persuade the Chicago-based retailer to reverse its decision to close its Lynwood store. Mayor Robert Henning, City Manager Charles Gomez and other officials met for about an hour with Ward representatives at the firm's Rosemead executive offices. Ward representatives asked that details of the meeting not be made public at this time, Henning said.
March 26, 1986 |
Montgomery Ward & Co., in a departure from its traditional emphasis on mass merchandising, said Tuesday that it plans to convert 40% of its existing stores to a new specialty store format by the end of this year. The stores will be redesigned to offer a "store within a store" concept, which features departments with a tight focus in product areas such as apparel, home care, electronics and appliances.
January 16, 1986 |
City Council members said this week that they are confident they have persuaded Montgomery Ward officials to reverse a previous decision to close their store here. But representatives of the Chicago-based retailer say that although negotiations are under way, no commitment has been made. "The store will not close. We (the council) have got the store to agree to stay," Lynwood Mayor Robert Henning said in an interview Wednesday. Councilman E. L.