Elder-Beerman Completes Sale of Bee-Gee Shoe Subsidiary.Business Editors DAYTON, Ohio--(BUSINESS WIRE)--Jan. 28, 2000 The Elder-Beerman Stores Corp. (Nasdaq:EBSC EBSC Elder-Beerman Stores Corp. EBSC East Bay Sanctuary Covenant (Berkeley, CA) EBSC Embedded Bitmap Scaling EBSC Elmbrook Swim Club (Brookfield, Wisconsin) EBSC English Bay Swim Club ) announced today that it has completed the sale of its 50-unit Bee-Gee Shoe Corp. to a business group formed by Albertine Industries, Ark Capital and Bee-Gee management. Terms of the sale have not been disclosed. The Bee-Gee Shoe Corp. will change its name to Shoebilee, Inc. Its administrative offices will remain in their present location in Dayton, and Elder-Beerman will provide support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to the new company for a period of time to assist in the ownership transition. The Company stated that the sale of Bee-Gee will have no material impact on Elder-Beerman's 1999 operating performance. The nation's eighth largest independent department store chain, The Elder-Beerman Stores Corp. is headquartered in Dayton, Ohio Dayton is a city in southwestern Ohio, United States. It is the county seat and largest city of Montgomery County. As of the 2005 census estimate, the population of Dayton was 158,873. and operates 62 stores in Ohio, West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. , Indiana Indiana, state, United States Indiana, midwestern state in the N central United States. It is bordered by Lake Michigan and the state of Michigan (N), Ohio (E), Kentucky, across the Ohio R. (S), and Illinois (W). , Michigan, Illinois, Kentucky, Wisconsin and Pennsylvania. Elder-Beerman also operates two furniture superstores This is a list of superstores by country. Multi-national
This press release contains &uot;forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ,&uot; including predictions of future operating performance, events or developments such as our future sales, profits, expenses, income and earnings per share. In addition, words such as &uot;expects,&uot; &uot;anticipates,&uot; &uot;intends,&uot; &uot;plans,&uot; &uot;believes,&uot; &uot;hopes,&uot; and &uot;estimates,&uot; and variations of such words and similar expressions, are intended to identify forward-looking statements. Because forward-looking statements are based on a number of beliefs, estimates and assumptions by management that could ultimately prove inaccurate, there is no assurance that forward-looking statements will prove to be accurate. Many factors could materially affect our actual future operations and results, including the following: increasing price and product competition; fluctuations in consumer demand and confidence; the availability and mix of inventory; fluctuations in costs and expenses; the effectiveness of advertising, marketing and promotional programs; weather conditions that affect consumer traffic in stores; the continued availability and terms of financing; the ability to complete any pending asset disposition transactions; the outcome of pending and future litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; consumer debt levels; and other general economic conditions that affect retail operations and sales, such as the rate of employment, inflation and interest rates and the condition of the capital markets. Elder-Beerman undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. |
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