Montgomery Ward Will Close 56 Stores

Montgomery Ward Holding Corp. said it will shut 39 Wards and 17 Auto Express stores and fire about 4,000 workers as part of a restructuring aimed at making the seventh-biggest U.S. department store company profitable. The stores are located throughout the U.S., including California. Chicago-based Montgomery Ward has been operating under U.S. Bankruptcy Court protection since July 1997, and the closings are subject to court approval. The company said it will offer to transfer as many workers as possible to other stores. The closings are expected to be completed by May 31. Wards stores adjacent to Auto Express locations will remain open, the company said.