Ames Posts Going Out of Business Signs

Aug 14, 2002

Ames Department Stores is closing its 327 stores according to a release on the company’s web site.

The soon to be ex-retailer’s chairman and CEO Joseph Ettore said, “Our associates and managers have worked long and hard, trying to restore the viability of Ames. But despite those efforts, and the efforts of management to control costs and restructure our operations, the difficult environment for discount retailing and the continued slowness in the economy have made it impossible for us to deliver the sales volume we need to meet our obligations.”

Moderator Comment: Can regional discount chains make it in today’s competitive marketplace? [George
Anderson – Moderator

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