N.Y. Dept. Stores plunges into restructuring. (New York Department Stores de Puerto Rico)

The new management team of New York Department Stores of Puerto Rico Inc., holding company of 10 New York Department Stores and six Seedman's stores, has revealed the company's restructuring, which will be put into effect immediately. (See CARIBBEAN BUSINESS Feb. 13, 1992).

The main purpose of the restructuring is to combine both chains into one junior department store chain which will operate under the New York Department Stores name. Until now, both chains had been operating separately with two different images - New York Department Stores, a junior department store, and Seedman's, a discount operation.

According to John Irelan, CEO and president of New …