Retail chain Belk mulls hiving off recently acquired Parisian stores
30 Oct '06
1 min read
In wake of its purchase of the Parisian chain from Saks earlier this month, the Belk retail chain now plans to dispose of its 11 Parisian department stores, including one at Midtown at Forest Acres in Columbia.
The Charlotte-based retailer plans to sell off four Parisian stores in the Midwest to Bon-Ton Stores but deals are yet to be finalized to sell the remaining seven stores including one at Midtown at Forest Acres in Columbia and one at The Citadel Mall in Charleston.
Ever since the $285 million acquisition gave Belk additional 38 stores for a total of 315 in 19 states, company has been making a thorough analysis of Parisian markets to determine how each store will fit into Belk's long-term strategic plans.
The difficult decision to dissociate from a number of such outstanding stores is based on key factors like geographic territory, stores serving markets that overlap Belk and its growth potential.
marketing@alchempro.com
