Ames Department Stores Inc

Closure/Bankruptcy: In March 1999, Ames closed 8 stores. In November 2000, Ames closed 32 stores, with 31 of them being the newly acquired Hills Department Stores. In August 2001, Ames closed another 47 stores. The company filed for bankruptcy protection on August 20, 2001. In November 2001, Ames closed 16 more stores and a distribution center. In December 2001, Ames closed 54 additional stores, leaving the chain with only 333 stores. Ames closed another 6 stores in June 2002. On August 14, 2002, Ames executives announced it would close all 327 stores in the chain and wind down business. "Continued softness in sales, combined with tightening terms and slower shipments from our suppliers, have reduced our funds availability below critical levels," Ames chairman and CEO Joseph R. Ettore said about Ames' decision to go out of business.: United States of America