	allied stores als sells dillard dds two units dillard department stores inc based in little rock ark and allied stores corp jointly said they entered a definitive purchase agreement for the sale to dillard of the joske s and the cain sloan divisions of allied for mln dlrs cash subject to certain closing adjustments the sale excludes certain real estate assets of joske s and cain sloan which allied estimates have an aggregate value of mln dlrs based on current market conditions joske s has stores in texas and one in arizona cain sloan has four stores in nashville joske s is the largest unit allied has slated for sale in its restructuring allied stores corp a subsidiary of campeau corp was uired by uired by the canadian developer last year robert campeau chairman of allied said this is a terrific start to our disposition program which is proceeding well ahead of schedule this sale will fulfill the requirements under our bank agreements to sell certain assets by june and give us additional flexibility in the disposal of the remaining divisions being sold allied stores is required to pay mln dlrs in bank debt by june there had been some doubts on wall street that the company could meet the payment a campeau source said we believe this cash sale puts us in a very strong negotiating position to maximize the proceeds allied can receive from its other divisions allied was able to put itself in a position where it knows it will be able to meet the june payment schedules the source said about bilion dlrs in allied assets had been targeted for sale by dec to pay for the aquisition of allied by campeau allied will be taking bids for its other divisions targeted for sale are bonwit tellers garfinckel s dey s donaldson s herpolsheimer s heer s miller s miller and rhoads pomeroy s catherine s plymouth shops and jerry leonard the divisions provided pct of allied net sales and pct of store profit in fiscal reuter 
