Printer Friendly

BRENDLE'S ANNOUNCES PLANS TO CLOSE EIGHT LOW PERFORMING STORES

 ELKIN, N.C., Jan. 22 /PRNewswire/ -- Brendle's Incorporated (NASDAQ-NMS: BRDL) announced today that as a part of its restructuring it has made final plans to close eight of its low performing stores.
 These stores are located in Virginia (Newport News, Virginia Beach, Colonial Heights, Chesapeake, and Charlottesville), North Carolina (Durham), and South Carolina (West Columbia and Columbia). There are 302 employees involved in the closings. Some will be relocated to other positions within the company, most will be laid off.
 Clearance sales will close out the inventories in these stores over the next few months.
 "Though we deeply regret the effect this will have on our employees and their families, these steps were necessary. In order to fully implement our restructuring plan, cost saving measures had to be taken," said Doug Brendle, Brendle's Chairman of the Board and CEO.
 Brendle's will continue to operate 43 stores, fully stocked, located in North Carolina, South Carolina, Virginia, Tennessee and Georgia as discount retail stores, employing some 2,100 employees in this operation.
 -0- 1/22/93
 /CONTACT: Douglas D. Brendle, Chairman of the Board, Brendle's Incorporated, 919-526-6505/
 (BRDL)


CO: Brendle's Incorporated ST: North Carolina IN: REA SU: RCN

CM -- CH004 -- 7898 01/22/93 12:12 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 22, 1993
Words:205
Previous Article:WAL-MART BOARD DECLARES 2-FOR-1 STOCK SPLIT
Next Article:WACHOVIA ANNOUNCES DIVIDEND INCREASE AND TWO-FOR-ONE-STOCK SPLIT
Topics:


Related Articles
BRENDLE'S INCORPORATED REPORTS THIRD QUARTER RESULTS
BRENDLE'S COMPARABLE STORE SALES ARE UP
BRENDLE'S SIGNS $45 MILLION FOOTHILL CAPITAL COURT APPROVED LOAN
BRENDLE'S EXITS CHAPTER 11
BRENDLE'S FIRST QUARTER SALES & EARNINGS IMPROVE
BRENDLE'S ANNOUNCES NEW MERCHANDISING VP
BRENDLE'S INCORPORATED NAMES SUCCESSOR TO RETIRING PRESIDENT CHIEF EXECUTIVE OFFICER DOUGLAS D. BRENDLE
BRENDLE'S TO RELOCATE CHAPEL HILL, NC STORE

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters