USA: Montgomery Ward Starts Liquidation
The demise of the Montgomery Ward & Co era has begun with a federal bankruptcy judge granting permission for the store to hold closing down sales, the start of the companies liquidation process that may take up to four months reported the Wall Street Journal. The good news of sale prices for consumers however may not prove to be such good news for rival retailers who will now be faced with a market flooded by sale price lines, putting a strain on already tight sales figures.
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