The Mervyns department store chain says it plans to close all but one of its stores in Colorado, plus 52 other stores in seven states.
The moves come as part of an effort by Mervyns' new owners to boost profitability.
The closing will effect the Mervyns Stores in both Colorado Springs and Pueblo.
Some 4,800 workers will lose their jobs, including hundreds in Colorado.
Mervyns entered the state in 1983, and currently operates eleven Colorado stores. The only one that will remain open is located at the Mesa Mall in Grand Junction.
Mervyns says the closures will affect roughly 162 full-time employees and 584 part-time workers in Colorado.
Minneapolis-based Target Corporation sold Mervyns to a private investment consortium last year for more than 1.6 billion dollars.