Dillard's gets a month to finish Jacobson deal

4/2/2002

Dillard's will have a month to complete its purchase of the soon-to-be vacant Jacobson's department store at Franklin Park Mall, an attorney representing Jacobson's said yesterday.

Under terms of a bankruptcy auction conducted in early March, Dillard's was to complete its $11 million purchase of the two-story store yesterday. However, the winning bidder could have until April 30 to complete the transaction if a liquidator had not finished disposing of the stores merchandise.

The liquidator, the Ozer Group of Needham, Mass., was still on the job yesterday even though the store is closed.