Federated Department Stores sold its Boston unit.
The Cincinnati-based retailer said that despite “significant progress†by the eight-unit, Milwaukee-based department store division over the last two years, it was in the best interests of the company and shareholders to sell Boston Store to P. A. Bergner & Co. of Peoria, Ill. The sale, for about $80 million cash plus the assumption of certain liabilities, will be completed March 3. The Boston Store accounted for $130.9 million of Federated’s total 1983 sales of $8.69 billion.
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