EDISON BROTHERS TO SELL ACCESSORIES CHAIN
EDISON BROTHERS TO SELL ACCESSORIES CHAIN ST. LOUIS, Aug. 6 /PRNewswire/ -- Edison Brothers Stores, Inc.
(NYSE: EBS), today announced it has reached an agreement to sell the assets of its 89-store Joan Bari/Cabaret chain of accessories boutiques to F.W. Woolworth Co. The transaction is expected to be completed in September.
In addition to cash, Edison will receive up to three leases from the Richman Brothers and Anderson-Little chains, which Woolworth has announced that ii is closing. These leases will be used for Edison's menswear and footwear chains. In 1991 the Joan Bari/Cabaret chain generated 1.7 percent of Edison's sales and none of the company's profits. -0- 8/6/92 /CONTACT: Judy Smith of Edison Brothers Stores, 314-331-7504/ (EBS) CO: Edison Brothers Stores, Inc. ST: Missouri IN: REA SU: TNM
CK -- NY064 -- 7598 08/06/92 12:22 EDT
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|Date:||Aug 6, 1992|
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