Retailer won't seek Emporium stores.

Byline: Edward Russo The Register-Guard

Don't look for any Troutman's Emporium stores to survive the clothing chain's bankruptcy and reopen under the Emporium name.

The Dunlap Co., a Fort Worth-based discount retail chain, is no longer interested in acquiring any Emporium stores, Dunlap Executive Vice President Eddie Martin said Tuesday.

"We are not pursuing any kind of transaction to reopen the Emporium stores," he said.

Until recently, Dunlap had been keen on acquiring the leases of 15 Emporiums at undisclosed locations. Dunlap, which operates 48 stores in 11 states, wanted to reopen the Emporiums by fall, which could have saved the jobs of some of Emporium's 1,000 or so employees.

With 34 stores, Eugene-based Emporium is moving through bankruptcy, selling assets to satisfy thousands of creditors owed a collective $30 million.

Last week, Emporium chose Buxbaum Group LLC of Calabasas, Calif. over Dunlap and a partner firm to conduct going-out-of-business sales. Emporium's decision to accept Buxbaum's more lucrative offer killed Martin's interest to pick up desirable Emporium locations.

Now, there is little chance any Emporium will reopen under a new owner, said William Potter, an attorney for Emporium's parent firm, Troutman Investment Co.

After the stores are closed in a couple of months, other retailers likely will take over Emporium spots on a case-by-case basis, Potter said. "We don't know if they will be a clothing store or a hardware store," he said. "But if somebody opens a retail business in those locations, then we are hoping that some of our employees will be able to find jobs."

Still to be sold are the rights to Emporium's long-term leases. With below-market rents, those leases may be desirable to commercial real estate brokers and retailers, and to landlords wanting to regain control of their spaces. Bids to acquire the rights to leases are to be submitted to Emporium's lawyers by 5 p.m. today. An auction to pick the high bidder is to be on Monday, with bankruptcy court approval scheduled for March 17.

Martin said his firm will not bid on any leases and will not seek to acquire leases from a successful bidder or bidders.

His firm does not want to wait until March 17 or after to learn what stores may be available, Martin said. Late March is too late for Dunlap to order merchandise for a fall opening, he said.

Dunlap has other reasons for dropping its interest in Emporium Martin said, but he declined to explain them.

Emporium regrets Dunlap's decision, Potter said. "We would love to see some of the stores continue and, more importantly, people to keep their jobs," he said.