OTHER NEWS - Dec. 29, 1994
From Times Staff and Wire Reports
Merry-Go-Round Enterprises to Close More Stores: The Joppa, Md.-based clothing retailer, which has closed 200 stores since it declared bankruptcy in January, said it will close 200 others by February. The sales will leave the chain with about 1,000 outlets. The number of jobs that may be cut was not disclosed. It was the first major move since two executives joined Merry-Go-Round last month from Meridian Ventures, a turnaround investment firm that worked on the bankruptcy reorganization of R.H. Macy & Co. Merry-Go-Round shares closed unchanged at 69 cents on the New York Stock Exchange after dipping to 63 cents, an all-time low.
