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Pamida buys out Place’s chain of stores

Inventory to liquidate; reopening under new name in September.

ShopKo Stores, Inc. (NYSE: SKO) and P.M. Place Stores Company today announced the signing of a letter of intent for ShopKo to acquire Place, an employee owned company, in a transaction valued at approximately $22 million, including the assumption of $19 million in debt.

P.M. Place Stores Company operates 49 discount stores in Missouri, Iowa, Kansas and Illinois, including a leading

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