ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Friday, December 6, 1996 TAG: 9612060016
SECTION: BUSINESS PAGE: A-16 EDITION: METRO
DATELINE: ELKIN, N.C.
Discount retailer Brendle's Inc. announced Thursday it was going out of business, saying it would liquidate its stores and end its effort at reorganization.
Brendle's is the latest of the regional merchants to have failed in stiff competition with larger chains such as Wal-Mart, Target and Toys `R' Us.
In April, Brendle's filed for Chapter 11 reorganization for the second time in less than five years and said it would close 18 of its 30 stores, including locations in Roanoke and Christiansburg. Both Southwest Virginia stores shut in July.
Its remaining 12 stores are in North Carolina and South Carolina and employ about 600 people.
``Having given careful consideration to the company's performance since its second Chapter 11 filing, the Brendle's board of directors determined that there was no reasonable alternative remaining for the company except to discontinue its operations,'' company President Joseph McLeish said in a statement.
In 1992, Brendle's operated 58 stores with about 3,300 employees. It initially sought Chapter 11 protection in 1992 and closed 21 stores under a reorganization completed in 1994.
- Associated Press
LENGTH: Short : 34 linesby CNB