Software retailer Egghead Inc, Spokane, Washington announced a wrenching restructuring. It plans to close 77 stores, or nearly half the total, and take a $30m charge as part of the broad restructuring; chief executive Terry Strom and senior vice- presidents Kurt Conklin and Ron Smith will step down after a transitional period and chairman George Orban will replace Strom, who will continue to work with Egghead as a consultant. It is closing 77 of its 156 Egghead stores and reducing the markets where it competes to 24 from 54. It is also cutting its headquarters staff, closing its Lancaster, Pennsylvania distribution center and offering its headquarters in Spokane, and other property for sale.
