Zale Closing 105 Stores

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.