Rich Van Wyk/Eyewitness News
Indianapolis, July 28 - The shopping shuffle goes into affect in 2006. Federated Department Stores will close 68 duplicate stores in 66 malls across the country.
Here's how it will affect Indianapolis area malls. One of Castleton Square's most popular stores, Ayres, will close. In the Greenwood Park Mall Macy's will close the existing store and move its name to the Ayres store.
It's a huge change prompted by Federated's purchase of the rival May Company.
Federated, with headquarters in Cincinnati and New York, is closing and selling 68 stores in malls across the country where it now owns two competing stores.
Jenny Dyer worries about the loss of competition. "It kind of limits your shopping. They have so many good sales these days."
The closing stores employ more than 450 people. Company officials say the vast majority will be offered new positions.
Along with closing stores, Federated is changing names. Beginning next year, all surviving L.S. Ayres stores will become Macy's.
A retail icon for generations of Indiana shoppers will disappear.
