Details of sale ensure most of 3,000 workers will be retained
All Liberty House stores and assets sold to Federated Department Stores Inc.
Stores will retain the Liberty House name for the near term, but will ultimately be converted to Macy's. Some form of the Liberty House name may be retained.
One specialty shop at the Marketplace on Kaua'i will be closed. Three workers there will be offered jobs at the Kukui Grove store.
Most of Liberty House's roughly 3,000 employees will be retained by Macy's. Nearly 400 administrative employees will be either offered positions at Macy's and other Federated companies or laid off.
The deal is expected to close as early as July 9.
A purchase price was not disclosed.
Liberty House President John Monahan will leave the company after a transition period.
Deena Nichols, a Macy's West senior vice president, will oversee Hawai'i stores.
Store renovations are possible following an evaluation of all stores, though no plans have been made.
The processing of bankruptcy claims to be paid will not be affected by the acquisition.
Frequent-customer reward programs and credit card accounts will be transferred to Macy's.