Strongbow to nominate directors for election to Duckwall-Alco board

By Lisa Kerner

Charlotte, N.C., Dec. 17 - Duckwall-Alco Stores, Inc. investor Strongbow Capital, Ltd. has not seen "satisfactory concrete progress" or "acceptable improvement" in the company's 12-month return on investment.

As a result, Strongbow intends" to nominate, and solicit proxies to elect, a slate of directors at the company's 2008 annual meeting," according to a schedule 13D filing with the Securities and Exchange Commission.

Strongbow said it is may also propose an amendment to the company's bylaws to reduce the size of Duckwall-Alco's board of directors.

In November, Strongbow chairman Raymond A.D. French expressed dissatisfaction with the results to date of Duckwall-Alco's three-year turn around program.

The 14.3% stakeholder noted his patience was tested after Duckwall-Alco's board failed to take steps suggested by French in a prior SEC filing.

Duckwall-Alco's three problem areas are SG&A expense control, inventory reductions and shrinkage, according to French.

Duckwall is an Abilene, Kan.-based discount retailer.

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