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HEILIG-MEYERS COMPANY PURCHASES CERTAIN ASSETS OF GIBSON MCDONALD FURNITURE COMPANIES

 HEILIG-MEYERS COMPANY PURCHASES CERTAIN ASSETS OF
 GIBSON MCDONALD FURNITURE COMPANIES
 RICHMOND, Va., Jan. 16 /PRNewswire/ -- Heilig-Meyers Company (NYSE: HMY), the Richmond-based home furnishings retailer, today announced that it has purchased certain assets relating to 13 of the 16 stores owned by the Gibson McDonald Furniture Companies. Twelve of the stores are located in Georgia, and one is in Florida.
 William C. DeRusha, Chairman and Chief Executive Officer, stated that this transaction provides an attractive opportunity for Heilig-Meyers to serve a broader segment of the market in southern Georgia, as the new locations complement the Company's existing store base in that area. He added that management expects this acquisition, together with a new distribution center under construction in Thomasville, Ga., to significantly enhance the Company's competitive position in the region.
 With the addition of these locations, Heilig-Meyers Company, a Virginia corporation, will operate 374 stores in 14 states.
 -0- 1/16/92
 /CONTACT: Roy Goodman, Heilig-Meyers Company, 804-359-9171/
 (HMY) CO: Heilig-Meyers Company; Gibson McDonald Furniture Companies ST: Virginia IN: REA SU: TNM


CM -- CH007 -- 0493 01/16/92 11:52 EST
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Publication:PR Newswire
Date:Jan 16, 1992
Words:180
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