Sunday, June 01, 2008
Dawahare's Announces Plan To Close Nine Stores.
The president of Dawahare’s announced late last week that the Lexington based company has filed for bankruptcy and it will close nine of the company’s 31 stores.
The Pikeville and South Williamson stores will remain open.
Harding Dawahare says that 100 jobs will be eliminated at the nine stores, plus seven jobs at headquarters.
Dawahare says that the company won’t reduce staff at the stores that are remaining open
Dawahare says that the company has filed a Chapter 11 the first hearing in the case will be heard at 9 a.m. Thursday.
The company which has served Kentucky for 101 years lists $ 10 million in assets and $ 9.3 million in liabilities.
The stores that will close are Owensboro, Bowling Green, Paducah , Glasgow, Maysville, Mount Sterling, Campbellsville, Newport and Bluefield , West Virginia.
The company says that the move is necessary because of the slow national economy and competition from other retailers.
Dawahare is confident that the reorganization will work and it will make the business more successful
The Pikeville and South Williamson stores will remain open.
Harding Dawahare says that 100 jobs will be eliminated at the nine stores, plus seven jobs at headquarters.
Dawahare says that the company won’t reduce staff at the stores that are remaining open
Dawahare says that the company has filed a Chapter 11 the first hearing in the case will be heard at 9 a.m. Thursday.
The company which has served Kentucky for 101 years lists $ 10 million in assets and $ 9.3 million in liabilities.
The stores that will close are Owensboro, Bowling Green, Paducah , Glasgow, Maysville, Mount Sterling, Campbellsville, Newport and Bluefield , West Virginia.
The company says that the move is necessary because of the slow national economy and competition from other retailers.
Dawahare is confident that the reorganization will work and it will make the business more successful
# posted by Joe Kinzer @ 11:42 AM 
