No, Labelle's did NOT become Shopper City... not related...
At the beginning of the 80's Labelle's was a part of a company called
"Modern Merchandising", who also owned Dolgin's, Jafco, Miller Sales,
Rogers and Great Western. In 1982 they sold out to Best Products, who
also bought a chain called Bosco that same year.
Best ran their acquired brands under their original names until at
least 1985 or so, when they began consolidation of their operations.
Originally they were going to keep each brand... that apparently
changed along the way as at least some of the stores did get
rebranded.
In late 1988, Best was acquired by Adler & Shaykin, a leveraged buyout
specialist in a $1.1 billion leveraged buyout. As is common in these
sorts of transactions, things did not go well, and by December of 1990
Best was suspending payments to its suppliers. On January 4, 1991,
Best filed chapter 11 bankruptcy, and operated under bankruptcy
protection until the beginning of 1994, emerging as a new publicly
held company owned by various of its creditors, with Adler & Shaykin
retaining none of their ownership, but retaining at least some of its
gains from cobbling together the failed LBO.
In September of 1996 L. Luria and Son Inc made an offer of $69 million
to acquire Best Products, but Best ultimately filed again for
bankruptcy later that month - September 24, 1996. By May 1997 Best
had liquidated the majority of its assets and its 180 stores, and in
December 1998 paid out its final checks to creditors and ceased to
exist.
Oh.... Best, Modern Merchandising, and Service Merchandise, while
competitors, shared a common catalog for much of their time in
business, which helped to make the Best / Modern Merchandising
acquisition look enticing... Their shared catalog was a cost saving
measure...
In 1999 Service Merchandise followed Best into Bankruptcy, and after
three years under bankruptcy protection was liquidated in 2002. The
company name was bought by its former chairman, and resurrected as an
internet-only retailer in 2004. That too seems to have failed, and
their website now shows as "under construction".
On Mon, 15 Oct 2007 12:50:48 GMT, "Thomas T. Veldhouse"
Post by Thomas T. VeldhousePost by S1500Watching an old YouTube clip from 1984 featuring twin cities commercials. There's an ad
for "Labelle's" that apparently sells cameras & stuff.
Why am I drawing a blank? I'm 31, and would think I could remember more. I'm drawing a
blank. Help me out here.
Labelle's was sort of Mongomery Wards if I had to compare with with something.
They later became "Shopper City".
Greg Kemnitz - KB0OSO - +1.763.548.2600 - ***@skypoint.com