Mothers Work to End Sears Leasing Deal
Philadelphia, Mothers Work Inc. said on Friday that it will not renew its leased department store relationship with Sears Holdings Corp.
The company currently leases the maternity apparel department in 502 Sears stores nationwide. Its agreement with the department store chain expires June 20, 2008.
“While we are disappointed about the end of our relationship with Sears, we feel the decision not to proceed with a renewal is in the best interest of our stockholders since we were unable to reach terms on a renewal which would be favorable for Mothers Work and our stockholders,” said president and chief creative officer Rebecca Matthias.