K'S MERCHANDISE BUYS CENTRAL HARDWARE; TO OPEN IN FALL 1996

K's Merchandise is coming to Cape Girardeau.

The Decatur, Ill.-based retail company announced on Tuesday the purchase of the former Central Hardware Building in Cape Girardeau. It will house the company's 14th store.

Don Ouellette, vice president of merchandising, said the new store here will be the largest store in the chain and the first K's Merchandise location in Missouri.

The Cape Girardeau store, which is expected to open in the early fall of 1996, will employ more than 100 people.

K's Merchandise was one of nine sealed-auction bidders on the 85,320-square-foot building at the intersection of Broadview Street and Bloomfield Road.

The property was offered for auction with the approval of the U.S. Bankruptcy Court.

The bids were opened Thursday but announcement of the purchaser was not made until Tuesday.

The Cape Girardeau building is the largest of six former Central Hardware Co. buildings being put up for auction in the Midwest. The building is on 7.14 acres. Five other Central Hardware buildings were scheduled to be auctioned Tuesday in Ohio.

Kay Eldridge, owner of K's Merchandise, was in Cape Girardeau recently to look at the former Central Hardware building.

"We're very interested in the Cape Girardeau market," he said. "And we're happy to see it at this location."

K's Merchandise, which offers a variety of products, including sporting goods, electronics, jewelry, housewares, furniture, small appliances, toys, baby goods and giftware, opened in Carbondale's University Mall last month.

K's Merchandise is a rapidly growing regional retailer.

"We offer the largest product selections available and a complete range of prices on all name-brand merchandise," said Ouellette. K's Merchandise also offers bridal, gift and baby registries at all locations.

The new Cape Girardeau K's jewelry department will showcase some of the world's finest diamonds and precious stones, said Ouellette. "We'll have a full-time master jeweler in the store."

K's Merchandise is a family-owned business founded in 1957. K's now has 10 locations in Illinois and three in Iowa. The company also operates eight Eldridge Fine Jewelry Stores in Missouri, Kansas and Florida.

"We're committed to satisfying our customers and offering the most complete selections, savings and service available," said Eldridge.