BUSINESS MEMO: CENTRAL HARDWARE CLOSES

Central Hardware, the 93-year-old chain founded in St. Louis, is closing.

The company's remaining 10 stores in the St. Louis area and five stores in Memphis, Tenn., are expected to close by June.

Central's parent company, Handy Andy Home Improvement Centers Inc. of suburban Chicago, was forced into bankruptcy in October. Company executives have decided to close the Central stores and all 39 Handy Andy sites. A Central Hardware at Cape Girardeau closed more than two years ago. The building housing the local facility has been purchased by Kay's Merchandise, which will open here later this year.

It is still possible that a buyer could emerge for some of the stores, but no one involved with the bankruptcy case expects that to happen.

Handy Andy has about 2,500 employees, half of whom are part time.

Most of the going-out-of-business sales will probably take place in May.

Handy Andy's debt, all unsecured, totals more than $123 million. About half of that is owed to banks; the rest to trade creditors.