Dillard will buy two Allied Stores divisions.

Dillard Department Stores of Little Rock, Ark., said it has agreed to buy two Allied divisions, including the Dallas-based Joske’s retail chain, for about $255 million in cash. Joske’s, which operates 26 stores in Texas and one in Phoenix, is the largest division being sold by New York-based Allied under its restructuring program, both companies said. Dillard said it also was buying Allied’s Cain-Sloan division, which operates four stores in Nashville, Tenn. Allied was acquired by Toronto-based Campeau Corp. last year for $3.4 billion.