• NOT-SO-GREAT INDOORS: Sears, Roebuck & Co. said it anticipates taking a third-quarter aftertax charge of $75 million to $100 million to close three underperforming Great Indoors home stores and convert a fourth into an outlet store. A Sears spokesman said the effect on full-year earnings per share will be released with the firm’s third-quarter operating results on Oct. 16. Currently, Sears forecasts fiscal 2003 EPS of $4.80 to $5, excluding any impact from the sale of its credit and financial products division. Most of the aftertax charge is expected to be noncash, and primarily includes closing costs, asset impairment and other related expenses. Following the closings, Sears will operate 18 Great Indoors stores in 11 markets.

  • AMEREX’S CANADIAN EXPEDITION: The Amerex Group has signed a deal with Debonair Creations, a Canadian import business, to market Amerex’s proprietary brands in Canada. Toronto-based Debonair is part of the Wertex Group. Amerex’s initial distribution in Canada will focus on its Gerry, Weather Tamer, One Madison, Alpine Studio and Static brands.

  • BURLINGTON MOVES AHEAD: Burlington Industries Inc. took another step Thursday on its road out of insolvency. The U.S. Bankruptcy Court in Wilmington, Del. approved the company’s disclosure statement on its plan of reorganization, which will now be mailed to creditors, who have until Oct. 10 to review the plan. As reported, W.L. Ross & Co. has agreed to buy Burlington out of Chapter 11 proceedings for $614 million. If the plan is confirmed, the deal is expected to close by Oct. 30.

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