Closings & Financial Woes
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Closings & Financial Woes


Play Co. Toys & Entertainment Corporation (760-471-4505) will close 33 stores in accordance with the chapter 11 filing in bankruptcy court. The collectible toy retailer will close 16 stores in southern CA; three in Las Vegas, NV; three in TX; two in IL; two in Charlotte, NC and one each in Tempe, AZ; Broomfiled, CO; Orlando, FL; Nashville, TN; Hanover, MD; Bloomington, MN and Auburn Hills, MI.

Miller’s True Value (701-772-2701) will close its South Washington Street location in Grand Forks, ND.

Heilig-Meyers Company (804-784-7300) will close the chain’s remaining 375 stores. The company has previously gone through two waves of closures and has been under chapter 11 bankruptcy protection since August, 2000.

ACE Cash (972-550-5000) will close 84 underperforming locations before the end of the fiscal year. The check-cashing chain has opened or acquired 189 locations in the first nine months of fiscal 2001.

DJM Asset Management (516-752-1100) has the listing to dispose of 950 locations in the bankruptcy actions of five retailers. The assignment of Bugle Boy stores includes 173 locations ranging in size from 2,000 sq.ft. to 11,926 sq.ft. in 39 states. The Custom Shop has 48 mall stores on the market, while Natural Wonders is vacating 219 locations. Natural Wonders’ stores range from 1,724 sq.ft. to 4,444 sq.ft. and are located in 41 states. Freestanding locations of Frank’s Nursery & Crafts, Heilig Meyers and HomePlace will also go through disposition.

AMF Bowling, Inc. (804-730-4000) closed the AMF Antioch Lanes in Northland area of Kansas City, KS. The company operates 520 locations worldwide, with 403 centers in the U.S. The company is considering chapter 11 bankruptcy protection to restructure its $1.3 billion in debts.

Track ‘n Trail (916-933-4525) filed for chapter 11 bankruptcy protection. The company operates 151 stores in 33 states under the Track ‘n Trail and Overland Trading brand names. All stores will remain open through the first phase of the process.

Nelson Bedding (330-788-4179) will close its Uptown location on Market Street in Youngstown, OH. The company hopes to relocate the store in the city. The company’s Boardman, OH location will remain open.

Nordstrom’s (206-628-2111) closed its store in downtown Yakima, WA. The downtown retail district has lost two other anchor stores, The Bon Marche and J.C. Penney, within the last 18 months.

Busk Brothers Furniture (219-277-2000) trading as Flexsteel Comfort Seating is closing its stores in Mishawaka, IN and Michigan City, IN.

Brown Shoe Company (314-854-4000) trading as Naturalizer closed its store at MacArthur Center in Norfolk, VA. The company’s stores at Chesapeake Square, Greenbrier Mall and Coliseum Mall will remain open.

Kuester’s Hardware (812-422-3293) will close two of its Evansville, IN locations. The company’s other four Evansville and the Carter Road unit in Owensboro, KY will remain open.

Sears (847-286-2500) will close its Midtown Shopping Center location in August. The company will relocate the store to the former Montgomery Ward space at Pueblo Mall. Trammell Crow will handle the leasing of the space at Midtown Shopping Center.

Lilly’s Crown Jewelers (304-256-7200) will close all nine of its stores after filing for chapter 11 bankruptcy protection. The company has between $2.7 million and $3.1 million in debt. The company operates four Charleston, WV-area units at Town Center Mall, Kanawha Mall, Dunbar Village and Dudley Farms Plaza. The jewelry stores are also located in Logan, WV; Beckley, WV; Bluefield, WV; Morgantown, WV and Christiansburg, VA.

The Sport Shoe (770-279-7494) filed for chapter 11 bankruptcy protection and will close two of its 23 locations. The company operates in GA, NC, AL and FL. The company will close its Cobb Parkway and Hammond Drive locations in the Atlanta, GA area.

Rankin Automotive Group, Inc. (713-741-3100) trading as US Parts filed for chapter 11 bankruptcy protection. The 14-unit chain operates throughout TX, has secured debtor-in-possession financing and will not immediately close stores.

American Appliance (800-898-4677) closed its remaining 24 stores. The company had stopped receiving shipments from both Frigidaire and General Electric over the last three months. The company closed six stores in February. The company filed for chapter 11 bankruptcy protection in late April after GE Capital filed to seize about two-thirds of the company’s inventory.

Shells Seafood Restaurants, Inc. (813-961-0944) closed 16 locations in the midwest and FL. The company operates 33 units specializing in mid-priced seafood.

Gerald Stevens (954-713-5000) filed for chapter 11 bankruptcy protection in an effort to restructure $66.8 million in debt. The 300-unit floral retailer chain had set a five-year goal of 1,000 locations when the business was launched in 1998. The company closed deals for its wire-based Florafax service and its Calyx & Corolla catalog operation.