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The Honolulu Advertiser
Posted on: Wednesday, June 20, 2001

Details of sale ensure most of 3,000 workers will be retained

 •  Macy's pledges to keep spirit of Liberty House
 •  Q&A: Retailer Macy's says it's here for long haul
 •  Demise of Hawai'i's oldest retail store chain saddens many
 •  A look at Liberty House, FDS and Macy's
 •  Liberty House buyer follows proven strategy
 •  Lee Cataluna: Liberty House came through for local folks
 •  Graphic: Liberty House chronology
What do you think of the Liberty House purchase? Join our discussion.

Advertiser Staff

• 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.