NATION : Most B. Altman Stores to Close
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NEW YORK — A federal bankruptcy court judge ruled today that Hooker Corp., the hard-pressed Australian group that has severe problems with its U.S. department stores, can close almost all of its B. Altman outlets, including its flagship store in Manhattan, after no buyers were found.
Hooker had put the stores on the block and asked for permission to shutter six of the seven stores if no buyer appeared by a deadline it set today. It said that while there were interested parties, none had adequate financing.
Altman stores are known for a traditional air that has not kept pace with changing consumer tastes. The only store not to be closed is one near Cincinnati, the anchor tenant in a Hooker-owned shopping mall.
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