FEDERATED TO PAY FTC FINE ON CHARGE OF ORDER VIOLATION
WASHINGTON--The Federal Trade Commission said Thursday that Federated Department Stores has agreed to pay $250,000 to settle agency charges that the chain violated a 1979 FTC order by trying to block a competitor from entering a mall in Kentucky where Federated has a Lazarus store. According to the agency, in 1993 Federated used its contractual authority with the Florence Mall in Florence, Ky., to veto the taking over by another company of a mall location that was vacated when Hess's Department Stores went out of business. The FTC did not identify the company competing for the site. Federated ultimately purchased the Hess site and converted it into a Lazarus Home Store. A 1979 FTC order bans Federated from using its position as a mall anchor to exclude the entry of a competitor in the mall. A Federated spokeswoman said the Cincinnati-based department store giant agreed to settle the charges to dispense with the case and to maintain a good relationship with the FTC. "It was the most expeditious manner," the spokeswoman said.
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