Jacobson's Will Close

After 134 years, Jacobson's is going out of business.

After wrangling over what to do for the last five months, the upscale retailer accepted a deal from a group of liquidators to sell its merchandise, credit cards and equipment.

The going-out-of business sale starts Friday at the company's Meridian Mall store and its 17 remaining stores.

The Jackson-based company filed for Chapter 11 Bankruptcy in January after heavy losses and slow sales. The company posted a net loss of $57 million for the 2001 fiscal year. It blamed poor sales on a softening economy and less traffic after Sept. 11.

Jacobson's employs 2,800 people in stores in Michigan, Indiana, Kentucky, Kansas and Florida.

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