HomeMy WebLinkAboutUNIVERSITY CENTER PUD (UNIVERSITY MALL REDEVELOPMENT) - FINAL - 2-96A - MEDIA - (4)sway. vice) and some will have a manager for the bus service.
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local store
Site one of 2 in Colorado
targeted; 69 jobs at stake
By ROBERT BAL1N
The Coloradoan
After 34 years in business
on South College Avenue,
Montgomery Ward is ready
to check out.
Ward's parent company
said Friday it will close 48
stores, including the Fort
Collins store, as part of a
cost-cutting move. Ward's
cuts could result in the lay-
offs of 3,800 employees.
The stores will be shut by
the end of the year.
The 66,000-square-foot
store at 2201 S. College Ave.
opened Nov. 7, 1963. The fol-
lowing year University Mall
was built next door.
One other Colorado store
is on the Ward hit list: a
120,400-square-foot store at
Englewood's Cinderella City
mall, which opened just 10
years ago.
Company officials will
meet with employees to de-
termine how many will get
jobs at other stores. The Fort
Collins store employs 69.
Employees who can't stay
will receive "shutdown ben-
efits and outplacement as-
sistance as appropriate,"
Ward said in a news release.
The closures will leave
Ward with 294 full -line de-
partment stores in 37 states.
On July 7, the 125-year-
old pioneer of mail-order cat-
alogs became the biggest re-,
tailer to seek bankruptcy
since the famed Macy's
chain filed for protection five
years ago. Ward began lan-
guishing in the '80s as cus-
tomers went upscale or.
chose discounters such as
Wal-Mart and Target.
The Fort Collins store
manager was not allowed to
speak to the press, and re-
ferred calls to Ward's Chi-
cago headquarters. In a.
statement, Ward said the 49
stores are`tmderperforming."-
The closing also will leave:
a large gap in Fort Collins'_
retail landscape. University.
Mall is largely vacant and.
awaiting redevelopment
However, the Ward store is
owned separately, and won't'
be part of the University
Mall project. ;
The Associated Press con#t)-.
uted to this report. -
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The Associated Press
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