NEW YORK — May Department Stores Co. plans to spend $30 million remodeling four of the six stores it bought last month from the Albert Steiger Stores Co., Springfield, Mass.
May Co.’s Lord & Taylor division will operate the Steiger’s stores in Manchester, Conn., and Holyoke, Mass. Each unit will be enlarged to 105,000 square feet, from 90,000 square feet. The Filene’s division will operate the Pittsfield, Mass., unit, which will be expanded to 110,000 square feet from 60,000 square feet. A unit in Springfield, Mass., will become a Filene’s, and remain at 120,000 square feet. The purchase price of the four stores was not disclosed.
News of May Co.’s plans for the stores confirms a report in these columns on Jan. 6.
Steiger’s will begin going-out-of-business sales today at its 10 stores, which are in Massachusetts and Connecticut. The sales will run through the end of the month. Then May Co. will start the conversions. The Pittsfield unit is expected to reopen in spring 1995; the other three are planned for fall 1994 openings.
Pyramid Cos., a developer, has taken over the Steiger store in Hadley, Mass., that May Co. had bought. May Co. is also in talks with Centermark, another developer, for a “possible transaction” with the Steiger’s in Enfield, Conn.