CHICAGO (Dec. 29, 2000)—Montgomery Ward & Co. announced Dec. 28 that it was filing for Chapter 11 bankruptcy and closing all 250 retail outlets in 30 states and 10 distribution centers.
Wards has 234 Auto Express locations attached to or in close proximity to its stores. The company said it would phase out operations over the next several months.
In 1998, Wards began an extensive program to remodel its stores and auto centers. The company has 37,000 employees and rang up sales of $3.2 billion in 1999, according to Crain´s Chicago Business, a sister publication of Tire Business.