Woolworth Closing Its Richman Bros. Stores

Woolworth Corp. announced that it would close its Richman Bros. Co. subsidiary, a century-old apparel retailing chain that operates 260 stores across the country.

The move is part of a strategy announced by Woolworth in January to close, sell or overhaul 900 stores. Frances Trachter, a Woolworth spokeswoman, said several potential buyers expressed interest in Richman Bros., but none of the offers was satisfactory.

The subsidiary, which includes stores under the name Richman Bros. and Anderson-Little, employs 4,500 people nationwide, including 540 in Fall River. The stores sell men’s and women’s clothing.

Woolworth said a number of stores will be converted to the company’s more successful specialty stores, such as Northern Reflections, Foot Locker and Champs Sports.