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PENNINGTON'S STORES Ltd.
the 56-year-old company that fell
into bankruptcy in December ‘94,
has made an -agreement ‘with
Montreal-based Reitman’s (Canada)
Lid. to buy the majority of its stores,

By Carol Crenna

Contributing Writer

“All but three of the Pennington’s
stores in’ Eastern and. Western
Canada were sold for $1.5 million

Mall moves
mountains

“IT. WAS a tall order to’ fill bat Park

° Royal seems well on its way to mak-
ing. good on ‘its claim to move
mountains. | . :

The mall's Together We Can
Move | Mountains .. campaign, °
Benefit’ the Salvation “Army, was
launched Sunday, April 30. On aver-
age,400 blue recycling bags, filled
with . used ~ clothing, bedding” and

shoes, are being brought in by. mall -

‘customers ‘each day ‘of the cain-
paign, according to Park Royal mar-
: keting director Renna McCready.

«Mountains of reusable items are

to Reitman's, which wants. ‘to

expand the growing business of
selling farger-sized women's cloth-
ing.

Regional manager of Reitman’s
Lid. Ron Waxman confirmed that
the takeover would affect one of
two North Shore stores.

Penningion’s | Warehouse in
Norgate Plaza was purchased by
Reitman’s, bul. the Pennington’s
store in Park Royal Shopping
Centre was not, he said.

There are nine-Pennington’s in

AN Dresses. Pe
May 14- May 20th -

forming ‘at drop-off points. in‘ the 4

“north and south malls and will con-
. tinue. to. grow. until’ the goods are
- Shipped to the: Salvation Army ate
campaign’ s end, Saturday, June 3.
One of the goals of the campaign
Sto :keep” reusable items ‘ out: of
‘Lower mainland landfill sites...
= 7 Layne Christensen: ‘

> Park Royal South |

the Lower Mainland including lwo
Wareliuuse stares,

Waxman said that Pennington's
Warehouse merchandise would not
change its focus and would contin-
ue to sell “up-to-date fashions ata
good price in larger sizes” and there
will be no change in (he current
staff, °

The Reitman’s deal is thought to
be u good one, News of the buy sent
its shares soaring from $1 to $16 at
the Toronto Stock Exchange in
“January. :

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