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Zale Closing 105 Stores

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The roster of retailers closing stores continues to get larger. The most recent name: Zale, which is closing 105 stores.

Jewelry retailer Zale says it will cut more than 200 positions and close 105 stores in 2008, in an effort to save more than $65 million a year.

The company says it will eliminate 140 filled and 85 open positions, or 20% of the staff at its headquarters in Irving, Texas. Most of the $4 million in severance-related and other costs from the initiative will be recorded in the company's fiscal third quarter ending April 30.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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