CUTMART CLOSES FOUR STORES

Cutmart Industries has closed four stores in an economic move.

"We're closing the stores in an effort to cease operations of marginally profitable operations," said Laura Younghouse, executive vice president of the firm, headquartered in Cape Girardeau.

Cutmart, which has 17 store remaining, also announced it would cut back operations on other stores.

Younghouse said, "The recent gyrations in fuel prices and inability of the four closed convenience store/service station operations to secure bank credit in the face of the seizure of Exchange Banks, together with the failure of FDIC regulators to honor commitments of Exchange Banks, has made these decisions prudent."

She added that Cutmart will continue to review operations but intends to continue operations.

The four facilities closing are located in Fredericktown, Jackson, Paducah, Ky., and at Sprigg Street and Morgan Oak in Cape Girardeau.