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P.A. BERGNER & CO. ANNOUNCES STORE CLOSINGS

 P.A. BERGNER & CO. ANNOUNCES STORE CLOSINGS
 MILWAUKEE, July 29 /PRNewswire/ -- P.A. Bergner & Co. Holding


Company today announced that stores in four locations would close on Jan. 30, 1993. The following stores will close at that time: Bergner's stores in Beloit, Wis.; Peoria (Madison Park location) and Urbana, Ill.; and the Carson Pirie Scott store in downtown St. Paul, Minn.
 Stanton J. Bluestone, president, commented: "After conducting extensive analysis of our company's operations, we have determined that these four stores' current and potential losses would have a negative effect on the company's overall operating profit. This is a very difficult decision for us because of the impact it will have on our associates and the communities affected by these closings. However, as part of our reorganization efforts, we have a responsibility to exercise our best business judgment in maximizing the full potential of our entire company's profitability."
 Company officials have informed the approximately 340 regularly employed associates that their positions at these stores would be eliminated between Jan. 17 and Jan. 30, 1993. Every attempt will be made to place as many employees as possible and the fact that there is a six-month advance notification will aid in that process.
 The combined sales of these four stores was approximately $21 million, comprising less than 2 percent of the company's annual volume in 1991. The stores are located in multi-store markets that have at least one other P.A. Bergner & Co. location, with the exception of the Bergner's store in Beloit.
 The company is exercising its right to close the St. Paul, Peoria (Madison Park) and Beloit stores and is seeking court approval to reject the lease of the Bergner's store in Urbana, in a motion filed today with the Bankruptcy Court in Milwaukee.
 P.A. Bergner & Co. has been operating under Chapter 11 protection with the U.S. Bankruptcy Court, Eastern District of Wisconsin, since Aug. 23, 1991.
 P.A. BERGNER & CO.
 Store Fact Sheet
 City/state St. Paul, MN Peoria, IL Urbana, IL Beloit, WI Totals
 Store name Carson Pirie Bergner's Bergner's Bergner's --
 Scott
 Location Downtown Madison Lincoln Beloit Mall --
 St. Paul Park Square
 Year opened 1980 1973 1964 1969 --
 Number of
 regularly
 scheduled
 employees Approx. Approx. Approx. Approx. Approx.
 100 37 131 73 341
 1991 sales $64 $2.6 $7.9 $4.3 $21.2
 million million million million million
 Square
 footage 116,000 53,000 121,000 70,000 360,000
 -0- 7/29/92
 /CONTACT: Edward P. Carroll Jr. of P.A. Bergner & Co., 414-347-5340, or Jerry Seeman of Burson-Marsteller, 212-614-5135, for P.A. Bergner & Co./ CO: P.A. Bergner & Co. Holding Company ST: Wisconsin IN: REA SU:


CK-KW -- NY046 -- 4587 07/29/92 11:44 EDT
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Publication:PR Newswire
Date:Jul 29, 1992
Words:452
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