Report: Alco shutting down all stores
November 21, 2014
All 198 Alco Stores are shutting down, according to a story in the Wichita (Kan.) Eagle.
Presumably, that includes the Fraser store. Company officials have not responded to repeated inquiries from the Sky-Hi News during the past three months.
The Wichita Eagle reports:
The beleaguered company that used to have its headquarters in Abilene filed for bankruptcy early last month.
The U.S. Bankruptcy Court in Dallas on Thursday approved an order from the company's creditors to close all Alco stores. …
The company was founded 113 years ago and had evolved into a discount retailer that served smaller communities. But in recent years, it had faced increasing competition from other discount retailers, such as various "dollar" stores.
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According to a news release from the company, the federal bankruptcy court "approved an order yesterday authorizing Tiger Capital Group LLC, SB Capital Group LLC and Great American Group LLC to conduct Going Out Of Business sales in each of Alcos 198 locations in 23 states, including 23 in Kansas."