Montgomery Ward stores in La Mesa, Mission Valley, National Cityand Escondido are likely to tell their employees as early as todayabout the closures, according to a store worker in MissionValley.
The Chicago-based chain will also close its 10 distributioncenters. The chain has 250 stores and 37,000 employees in 30states.
Retailers, such as Wards, have been hard-hit by fiercecompetition in the retail arena. Active retail investors continueto prefer neighborhood centers that are anchored by grocery storesand contain a high percentage of service-oriented inline stores,according to a report by PriceWaterhouseCoopers. Since such tenantsare thought to be less susceptible to economic downturns thanothers, re-leasing costs are generally kept to a minimum.
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