See all. In December 1992 continuing weak results and large operating losses caused Ames’s board of directors to oust Pistner. With Kmart in bankruptcy and other discount retailers … Opens in 7 h 35 min. It was founded in 1957 in Youngstown, Ohio,  and existed until 1999 when it was acquired by Ames.Most stores were located in Ohio, Indiana, New York, Pennsylvania and West Virginia, though the company did make a push into other markets. After these reductions, Ames became the nation’s fourth-largest discount retailer, with 693 stores in 20 states running from the Northeast, out to Illinois, and then down to the South. . If you have any comments or suggestions please let us know. Vintage Ames Dept Store Insulated Lunch Bag Retail Collectible RARE Highest Rated. Encyclopedia.com. Below are some of them. The newly combined companies estimated sales of $5.39 billion in their 736 total stores. $0.99 + shipping. Ames returned to its policy of growth through acquisition in 1984 when it bought KDT Industries, Inc. for $28.5 million. Shop Ames Department Store ames department store masks designed by carcinojen as well as other ames department store merchandise at TeePublic. Showing 1-6 … In March hearings were delayed because disputes over the nature of the company’s final payments to creditors remained unresolved. 1, 18. Fax: (501) 376-591…, 611 Olive Street Ames had stuck to its original rural orientation, eschewing heavily industrialized areas and places where one company employed almost all the inhabitants. Stephen Pistner, a specialist in retail corporate turnarounds, replaced him and began the long process of digging Ames out of the hole created by its Zayre purchase. However, the date of retrieval is often important. Lot of Approx. While today's shoppers turn to Saks, Neiman Marcus, and Macy's for everything from prom dresses to electronics, not long ago, they were spending money at now-defunct department stores like Hecht's, Ames, and Marshall Field's. Nevertheless, it appeared that Zayre’s traditional core of customers was eschewing the remade stores. Ames, where you can find Bargains by the bagful! In addition, the company began the process of converting the Murphy stores to the Ames model, as it reconfigured operating systems, methods, and procedures. Get the inside scoop on jobs, salaries, top office locations, and CEO insights. Enfield, Connecticut 06082 At the end of that year, Ames could look back on a promising pattern of growth, as sales rose more than 25 percent This particular abandoned Ames Department Store in Kentucky is located in Radcliff and you won’t believe what’s hiding inside. In each of its acquisitions, Ames bought a retailer when the company was struggling. Reviews from Ames Department Store employees about Ames Department Store culture, salaries, benefits, work-life balance, management, job security, and more. Prices were kept low all the time, rather than being set high and then reduced for periodic sales. Despite this setback Ames planned further expansion, plotting 12 percent growth for each year left in the decade. The purchase of Neisner Brothers, Inc. followed ten months later for $38 million. $17.00. Ames began in 1958 out of a warehouse in Southbridge, Massachusetts as a store that attempted to bring department store goods to rural areas affordably. Company closures always leaves the question of what to do with the scatter of unoccupied locations. York, Pennsylvania 17405 Compare pay for popular roles and read about the team’s work-life balance. Ames became the fourth largest discount chain in the United States, trailing Wal-Mart, Kmart, and Target. Uncover why Ames Department Store is the best company for you. Some of its properties had been sold to pay creditors, leaving 42 King’s department stores and $98 million in tax credits. These policies enabled the company to establish an unbroken record of profitability since its inception, and eight straight years of growing sales and earnings. . By late April 1990 Ames was staggering from continued poor sales at its Zayre operations, as well as the debt burden brought on by the large purchase and the costs of converting stores. Campanella, Frank W., “Small-Town Merchant,” Barron ‘s, December 28, 1981. These moves helped Ames to incorporate its new properties more fully into the company. In 1993 Paul Buxbaum was named chairman, while Joseph Ettore was named president and CEO in June 1994 following the resignation of Thorner. Hours may fluctuate. While Ames already operated in many of these areas, its stores were primarily located in rural areas, while Zayre’s strength was in urban zones. Therefore, that information is unavailable for most Encyclopedia.com content. In November 1998 the company agreed to acquire Hills Stores Company, a struggling 155-unit discount chain based in Canton, Massachusetts. Campanella, Frank W., “Small-Town Merchant,” Barron’s, December 28, 1981. Ten days later, the company consummated the plan and formally emerged from bankruptcy. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. Features. In the spring of 1986, Ames brought its clothes for the warmer months to stores late in the selling season and as a result was forced to mark down much of the merchandise, depressing earnings for that period. Little Rock, Arkansas 72201 (January 12, 2021). Most online reference entries and articles do not have page numbers. For its money, Ames got 392 stores located in the Northeast, the South, and the Great Lakes states. In some cases, this formula succeeded in raising sales by as much as 50 percent. Women's Clothing Stores. This expansion came at a price, however, as Ames’s debt grew temporarily to 80 percent of the company’s worth. Tosh, Mark, “Ames Battles Against the Odds,” Women’s Wear Daily, September 20, 1995, p. 6. The company was forced to post a loss for the first half of the year. Growing desperate, Ames opened its stores on Thanksgiving day, in hopes of boosting sales. Ames Department Stores Inc. will begin liquidation sales Sunday at its remaining 327 stores in the Northeast, mid-Atlantic and Midwest, ending a 44-year run for the Rocky Hill, Conn.-based chain. Fax: (973) 849-6197 Finally, on April 25, 1990, Ames was forced to file for bankruptcy, seeking protection from its creditors in Chapter 11 reorganization. To maintain its policy of growth through acquisition in 1984 when it began Buying other! Plan for reorganization to the Ames headquarters located outside Hartford, Connecticut expansion, most of were... 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