
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, April 7, 1994                   TAG: 9404070314
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

MORE ROSE'S TO CLOSE IN WESTERN VIRGINIA

Rose's Stores Inc. said Wednesday it will shut its variety stores in Blacksburg, Covington and Wytheville by mid-summer. The stores and one in Lynchburg are among 59 closing as the company makes a second round of cuts in an attempt to restructure from bankruptcy.

The closings will mean the loss of 237 full- and part-time jobs in the area and 4,000 jobs nationally, said spokesman Bob Gorham. He said a store in Madison Heights, near Lynchburg, is among 29 Virginia stores Rose's plans to keep open.

The company filed for Chapter 11 bankruptcy protection in September. In January, it announced the closing of 43 stores, including those in Pulaski and Bedford.

George Jones, president, said this would be the company's "final major downsizing."

The company also is eliminating 175 jobs in its corporate office and 100 at its distribution center, both in Henderson, N.C..

Jones said Rose's, which with the closings is about half its original size, should be a "leaner company" by fall or early 1995, when it will operate 113 stores in 10 states.

Gorham said a liquidation company should begin the final sales in the stores by mid-May and the stores be closed within 60 days of that.

- Staff report

by CNB