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Service Merchandise Co

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BUSINESS
January 11, 2001 | Associated Press
Service Merchandise Co. said it's trimming 1,750 full-time employees to reduce expenses as it attempts to pull out of bankruptcy. The job cuts represent 10% of the Brentwood, Tenn.-based retailer's work force, which already had been reduced from 25,000 full-time employees two years ago to 16,974. The company cited a difficult holiday season for retail in general and a need to streamline amid competition as reasons for the latest cuts.
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BUSINESS
January 11, 2001 | Associated Press
Service Merchandise Co. said it's trimming 1,750 full-time employees to reduce expenses as it attempts to pull out of bankruptcy. The job cuts represent 10% of the Brentwood, Tenn.-based retailer's work force, which already had been reduced from 25,000 full-time employees two years ago to 16,974. The company cited a difficult holiday season for retail in general and a need to streamline amid competition as reasons for the latest cuts.
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BUSINESS
November 15, 1990 | From Times Staff and Wire Reports
Games Recalled: Three outdoor disk-tossing games have been recalled by their manufacturers in the wake of facial injuries to children, the government announced. The voluntary recalls involve the Yard Spinner, Style 3209, made by Franklin Sports Industries of Stoughton, Mass.; the Lawn Discus, made by Regent Sports Corp. of Hauppauge, N.Y., and the Pro Sport Lawn Spinner, marketed by Service Merchandise Co., of Brentwood, Tenn.
BUSINESS
April 8, 1999 | Leslie Earnest
Telescope and binocular maker Meade Instruments Corp. said it will take a fourth-quarter charge of about $700,000 stemming from the bankruptcy of Service Merchandise Co., one of its largest customers. Irvine-based Meade said it still will show a fourth-quarter profit when it reports fourth-quarter and year-end financial results April 22. Service Merchandise accounted for slightly less than 10% of Meade's total sales in 1998, down from about 14% the previous year.
BUSINESS
January 5, 2002 | Reuters
Service Merchandise Co. said it will close all of its 200 stores and eliminate half of its 1,000 corporate employees as the recession and fallout from the Sept. 11 attacks crippled the chain. The retailer, which sells gifts, jewelry and home decor products, said its 8,300 store employees will leave the company after all merchandise is liquidated, beginning Jan. 19. That process is expected to be completed this spring and requires approval from U.S.
BUSINESS
March 17, 1999
* Service Merchandise Co. said five vendors forced the troubled specialty retailer into court-supervised reorganization as it filed an involuntary Chapter 11 bankruptcy petition. Among the vendors were Samsonite Corp., which claimed it is owed $3.62 million; Remington Products Co., claiming $3.64 million; and the Toy Biz Inc. unit of Marvel Enterprises, claiming $707,342. The listings were in documents released in U.S. Bankruptcy Court in Nashville. * Zale Corp., the largest U.S.
BUSINESS
September 9, 1997 | From Bloomberg News
Three regional electric utilities formed a venture to tap into the emerging national market for electricity by selling services to big companies with outlets in markets across the country. Cinergy Corp. of Cincinnati, Florida Progress Corp. of St. Petersburg, and New Century Energies Inc. of Denver said the venture, known as Cadence, signed up Service Merchandise Co., a Brentwood, Tenn., retailer with stores in 36 states as its first customer.
BUSINESS
January 19, 1989 | From the Baltimore Sun
Panasonic Co., one of the largest suppliers of home electronics to the American public, said Wednesday that it has agreed to repay $16 million to consumers who state prosecutors say were cheated in an illegal pricing scheme between it and hundreds of retailers. The scheme, believed to be the largest case of unlawful price collusion between a manufacturer and retailers in U.S.
NEWS
December 3, 1985 | CARLA LAZZARESCHI, Times Staff Writer
The three faces of Pat Eggleston stared back from the video screen. Elizabeth, the Beauty Makeover Computer, had captured the junior college professor's image in its video system and painted it with three new looks from its electronic palate of lipsticks, rouges and eye shadows. An hour later, Eggleston left the Nordstrom department store in South Coast Plaza in Costa Mesa with $128 worth of cosmetics. "It was great," Eggleston said of the computerized facial.
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