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Montgomery Ward drops out of crowded retail field

Published Monday, January 01, 2001

CHICAGO - Montgomery Ward's decision to shut its doors may have been a gloomy way to ring in the New Year, but retail analysts and owners alike say the news isn't necessarily bad for the industry. In closing its 250 Wards stores, the Chicago-based company will no doubt leave shopping center owners scrambling to fill space in the short term. However, Montgomery Ward's departure from the retail industry also will enable shopping malls to find stronger tenants to replace the 128-year-old department store chain, which had been struggling for several years. Owners also will likely be able to ...

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