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

DATE: TUESDAY, October 11, 1994                   TAG: 9410130087
SECTION: BUSINESS                    PAGE: B8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

IN BUSINESS

The weekly Treasury Department auction of three- and six-month bills was postponed Monday because of the Columbus Day holiday. The auction is scheduled for today.

Layoffs possible at Hofheimer's

Hofheimer's Inc., a Chesapeake-based shoe retailer operating stores in malls in the Roanoke and New River valleys, is facing cash-flow problems that have forced cutbacks in workers' hours, and the president of the chain of shoe retailers says layoffs are possible.

But President Aubrey Layne Jr. said he expects to be successful in raising capital.

Workers' hours at the three Roanoke Valley Hofheimer's stores have been trimmed slightly, but there have been no layoffs, the company said.

Overall, Hofheimer's has 550 employees in 69 stores in Virginia and North Carolina.

Revenues have slumped 10 percent from the same time a year ago, when Hofheimer's came out of a 1992 Chapter 11 bankruptcy reorganization.

Layne blamed the company's recent problems on increased competition from discounters and department stores and weak back-to-school sales.

- Staff and wire reports