Around the State – South JerseyDEPTFORD The sale of the StrawbridgeÂs store in Deptford Mall could result in as many as 313 layoffs, according to a Worker Adjustment & Retraining Notification Act notice filed by Federated Department Stores with the state Department of Labor. The outlet is one of up to 10 department stores the Cincinnati retailer has said it will sell by June to BoscovÂs, a retail chain based in Reading, Pa. Federated also filed a layoff notice for the 419-employee StrawbridgeÂs at Cherry Hill Mall.
A company spokesman tells NJBIZ that no buyer has been announced for the Cherry Hill store, and adds that Federated is trying to find other positions for the workers. The store divestitures stem from a drive to eliminate overlapping stores after FederatedÂs $17 billion acquisition of May Department Stores last year. Federated doesnÂt want its MacyÂs and BloomingdaleÂs outlets competing with the more recently acquired StrawbridgeÂs sites.