HechingerFilesBankruptcy, Glosing 89 Stores

Hechinger Co. has filed for Chapter I I bankruptcy protection and begun closing 89 underperforming stores in 36 markets, leaving the chain with I l7 locations in 2l states.

Seven of the closures are in the West, including Builders Square stores in Albuquerque, N.M., and Edgewater and Denver (S. Wadsworth), Co., and Builders Square IIs in Aurora, Fort Collins, Glendale and Westminster, Co.

Other closures include nine in Florida, two in Indiana, two in Kansas. two in Kentucky, four in Maryland, four in Massachusetts, six in Michigan, one in Mississippi, two in Missouri, three in Ohio, two in Oklahoma, l5 in Pennsylvania, ll in Texas, eight in New York, two in Tennessee. three in Virginia, and five in Wisconsin. In all, 14 Hechinger's, 15 HQs, 18 Builders Squares, 4l BS IIs, and a two-year-old Better Spaces unit will be shuttered. Hechinger hopes the closures, begun immediately after the June I I announcement, will significantly reduce operating losses so its resources can be focused on a core of profitable locations.