NEW YORK — Kline Brothers Co., a $73 million department store chain with 26 units, will be closing its doors by the end of the year.
The Cleveland-based retailer was profitable in all but one year since it was founded in 1913, according to Harold Inlow, president.
Inlow said Tuesday that the decision to close the stores was made by its parent, Bobbie Brooks Inc. According, to Inlow, the chain has canceled all outstanding orders.
“They simply decided to get out of the retail business,” Inlow said. Brooks is also a women’s and juniors’ apparel manufacturer and is involved in computer sales. Brooks is a unit of publicly traded Pubco Corp.
Inlow said Kline Brothers is in the process of selling as many as nine stores. He refused to name the prospective purchaser of the sites because talks on the deal are ongoing.
It is expected that the remaining stores will operate, perhaps under a going-out-of-business banner, until mid- to late-December.