ABC Evening News for Saturday, Mar 06, 1976
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(S)W.T. Grant Co. is in final days of liquidation. Report on employees.
REPORTER: Ted Koppel
(Hamburg, New York) 1st store began in Lynn, Massachusetts. Grant's became 3rd largest chain of variety stores in US. When liquidation over, 74,000 will be out of jobs, without benefits, vacation pay or severance pay. Pension benefits buried under red tape; payments delayed. [Mrs. Ruth MESSING - says can't find job at 58 years of age.] [Mrs. Susan BOARDWAY - says given lots of time to job and now, no benefits.] [Mrs. Clara KALKEY - cites what company owes her.] Bob Jacobson, 55, laid off and forced into retirement; worked for Grant's 30 years [Ex-store manager JACOBSON - says co. employees not treated well after October 2.] [Vice President personnel Robert V. BROWN - says sympathizes with employees' attitude. Company must preserve its cash and physical assets for company's creditors.] [Store manager Tom BEITER - says matter is in hands of court Some of employees' benefits should be protected. Too many personal tragedies involved.]
REPORTER: Phil Bergman
(Studio) Closeup address noted.
REPORTER: Ted Koppel
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