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S&K Famous Brands Closing 58 Retail Stores
December 12, 2008
Glen Allen, Va.-based S&K Famous Brands Inc. is closing 30 percent of its 196 stores and has put its headquarters up for sale as it works to restructure its store base and operations, according to the Richmond Times-Dispatch. The store closings began this month and will continue until the end of the January 2009, said Brian Kipp, vice president of marketing for the men's clothing retailer. S&K will close 58 underperforming stores, including four in Virginia. The company's West Broad Street headquarters complex, which includes a store, the two-story headquarters building and a 110,000-sq.-ft. distribution center, is listed with Thalhimer/Cushman & Wakefield and CB Richard Ellis. No sale price was available. S&K has about 90 employees at its corporate office, and about 200 in the Richmond, Va., area. If the headquarters property is sold, the company will move to a smaller location somewhere in the area.
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DDI visited the new JCPenney department store at Manhattan Mall in New York and spoke with store manager Joe Cardamone. Below is video of that conversation paired with a walk-through tour of the new store. For more on the JCPenney store, look out for DDI's November/December issue mailing out at the end of November.
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