OTHER NEWS - Oct. 5, 1991

Ames to Close 77 Stores: Ames Department Stores Inc. plans to close 77 of its 448 stores and lay off about 4,500 employees early next year, the company announced. “The closing of these stores will reduce our losses and improve operating cash flow,” Stephen L. Pistner, Ames’ chairman and chief executive, said in a statement. Most of the stores to be closed are in Indiana, Michigan, Ohio, Kentucky, West Virginia and Virginia. Ames filed for protection from creditors under Chapter 11 in April, 1990.