A&N stores closing
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Associated Press
Published: January 11, 2008
RICHMOND, Va. (AP) - Richmond-area retailer A&N is shutting its 48-store sportswear chain.
One store is in Lynchburg, in The Plaza shopping center, while another is in Bedford.
The company traces its roots to a dry-goods shop that opened in downtown Richmond after the Civil War.
The family-owned company blamed increasing competition, slowing sales and mounting losses for its decision.
Officials say the company had pursued other alternatives, including selling the athletic footwear and sportswear chain.
But a sale to group of investors in New York fell through this month.
A&N - originally called the Army-Navy Supply store - began liquidating its merchandise Friday by selling inventory at 60 percent off regular prices.
Information from: Richmond Times-Dispatch
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