Service Merchandise plans to scale back further

(Nashville, Tennessee-AP) -- Several different types of "downsizing" are in store at Service Merchandise.<br><br>In its battle to emerge from bankruptcy, the retailer plans to cut 48-hundred more jobs,

Tuesday, February 22nd 2000, 12:00 am

By: News On 6

(Nashville, Tennessee-AP) -- Several different types of "downsizing" are in store at Service Merchandise.

In its battle to emerge from bankruptcy, the retailer plans to cut 48-hundred more jobs, plus it will make its stores smaller and
discontinue some product lines. Service Merchandise will no longer sell toys, sporting goods, most consumer electronics and indoor
furniture.

The company hopes to expand its sales of jewelry, especially diamonds, and do more business on the Internet.

Service Merchandise was forced into Chapter Eleven bankruptcy nearly a year ago by a group of creditors who claimed they were
owed a total of almost one-point-three (B) billion dollars.

The chain has already closed more than 120 stores and cut five-thousand jobs.