Ames Liquidation Renews Concerns About Regional Chains

Regional chain store retailing received another blow recently with the announcement that Ames Department Stores is going out of business. The Rocky Hill, Conn.-based discount chain said in mid-August that it would close all 327 of its locations after struggling under Chapter 11 bankruptcy protection since August 2001—its second bankruptcy filing in a decade. The move to wind down the business came after the creditors' committee sought bankruptcy court permission to liquidate the company's entire inventory and warehouse distribution centers. Ames is the latest in a long line of large regional operators—including Bradlees, Caldor, Montgomery Ward, and Service Merchandise—that shut down in recent years after realizing they could no longer compete. The Nassi Group, Gordon Brothers Retail Partners, and SB Capital Group are the liquidators handling Ames's going-out-of-business sa
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