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Closings
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Closings Papa John’s International (502-261-7272) plans to close several franchised units and as many as 20 company-owned restaurants before the end of the year. Rite Aid Corp. (717-761-2633) will close two stores in the Memphis TN area this month. The company closed 20 stores in the first quarter of this year. Payless Cashways Inc. (816-347-6630) which is liquidating 39 stores as part of a Chapter 11 bankruptcy proceeding will close all of the company’s stores in IN KY and MN. Four KS stores in Overland Park Shawnee and Kansas City North also are expected to close within the next two months. The company will continue to operate 77 locations. Kmart Corp. (248-643-1000) will close 72 stores reduce the company’s holdings by two million sq.ft. and halt a $2 billion infrastructure revitalization plan. The company currently operates about 2 100 stores. Nordstorm Rack (206-373-4085) a division of Nordstrom Inc. will close its 37 000 sq.ft. City Place store in Silver Spring MD. The company’s lease is up in April 2002; the store will close its doors in January.
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