Ames Department Stores Inc. said today that it is closing 47 store locations, affecting 2,000 employees in 10 markets and numerous carriers. The stores will immediately begin liquidation and are expected to close by the end of October.
“We've continued to see a softening economy in the last several months and don't anticipate much improvement in the short term,” said Joseph R. Ettore (left), Ames' chairman & CEO. “In this tough economic climate we feel that it is in the company's best interest to put our efforts into our viable core business, which represents just over 400 store locations.”
Connecticut-based Ames is the nation's largest regional, full-line discount retailer, with annual sales of approximately $4 billion, and has 452 stores in the Northeast, Mid-Atlantic and Mid-West.