By Cheryl Miller
7/28/2005
Two popular department stores in the Indianapolis area are scheduled to be closed as part of the merger between Federated Department Stores and May Department Stores. The LS Ayres stores in Castleton Square and the Macy’s store in Greenwood Park Mall are among 68 “duplicate” stores that will be closed starting next year.
A Famous Barr store at the Eastland Mall in Evansville will also be closed.
The Castleton Ayres store has 284 employees while the Greenwood Macy’s store has 168. In a news release on its website, Federated, which operates in Indiana as Macy’s, says all managers and most of the sales associates at the closed stores will be offered positions at Macy’s.
"It is important for associates of both companies to understand that we will be as sensitive and caring as possible throughout this process. We will honor the pledge made previously to May Company associates that there will be no workforce reductions or job eliminations as a result of the merger prior to March 1, 2006," said Terry J. Lundgren, Federated's chairman, president and chief executive officer..
In addition to the close closings, Federated says all other Indiana LS Ayres stores will be changed to the Macy’s name.
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