Pay 'n Save
Encyclopedia
Pay 'n Save was a retail company founded by Monte Lafayette Bean in Seattle, Washington
; 1940. Over the years, Pay 'n Save was the leading drug store chain in Washington and was the owner several Washington-based retailers including Lamonts
and Ernst. A 1984 sale of the company to the Trump Group and a 1986 attempt to transform the retailer into a bargain-basement merchandiser resulted in a loss of nearly $50 million. By 1988, Pay 'n Save was sold to Thrifty Corporation
who later sold the stores to PayLess Drug who retired the Pay 'n Save name. As a result, most of the retailer's divisions were spun-off as separate companies or shuttered. As of 2011, Pay 'n Save's membership discount chain, Bi-Mart
, is the lone surviving division of the company.
At the company's peak, Pay 'n Save was operating 313 stores in ten western states under several different names including Pay 'n Save, Ernst, Bi-Mart
, Lamonts
, Sportswest, Schuck's Auto Supply
, Yard Birds
, Von Tobel's, and Price Savers.
from Portland, Oregon
to take over Tradewell Stores, Inc., a chain of grocery stores. By 1947, Bean and his son, M. Lamont Bean, opened the first Pay 'n Save drug store at Fourth Avenue and Pike Street in Seattle.
In March 1959, M. Lamont Bean became the president of Pay 'n Save and began considering operating other stores that were not pharmacies. Shortly after, Bean began an interest in Ernst Hardware, a local hardware chain owned by Seattle brothers Fred and Charles Ernst. Fred Ernst agreed to sell Ernst Hardware and its nine locations to Pay 'n Save in February 1960. In 1962, Pay 'n Save acquired Malmo Nursery and began opening Ernst-Malmo combination stores; combining hardware, lumber, garden supplies, and nursery items in one building. The first Ernst-Malmo combination store was opened at the University Village shopping center in Seattle. By 1982, Ernst was operating 68 hardware stores.
In 1965, Pay 'n Save acquired the Rhodes department stores chain. Pay 'n Save shuttered the Rhodes flagship store in Seattle during 1968. The Rhodes name was retired from the suburban branches when M. Lamont Bean renamed the stores Lamonts
in 1970. During 1976, Pay 'n Save acquired discount chains Bi-Mart
and Yard Birds
.
In October 1982, company founder Monte Lafayette Bean died at age 83. In 1983, Pay 'n Save entered the wholesale club business and opened the first Price Savers Warehouse in Salt Lake City, Utah
. In December 1983, Pay 'n Save acquired Schuck's Auto Supply, Inc.
for about $70 million in Pay 'n Save common stock
. At the time, Schuck's had 58 stores in Washington, Oregon
, and Idaho
.
In September 1984, the Pay 'n Save board voted to sell the retailer and to give a lockup option on $4.1 million shares to the Trump Group (no relation to New York real estate developer Donald Trump
) in an effort to stave off other bids.
Pay 'n Save's largest shareholders, Stuart Sloan and Samuel N. Stroum, vowed to fight the sale of the retail company. Sloan and Stroum, who own 18 percent of Pay 'n Save's stock, issued a statement telling shareholders not to "be stampeded into acting hastily". On September 12, 1984, The Trump Group announced that it had withdraw its offer to purchase Pay 'n Save in order to negotiate two Sloan and Stroum. On October 15, 1984, Pay 'n Save was officially sold to the Trumps for $358 million.
The company's sporting goods chain, Sportswest, was spun-off in 1984 before being closed completely. After a brief period, Thrifty Corporation
reopened the stores under the Big 5 Sporting Goods
name. Sportswest was the first of several Pay 'n Save division to be sold over the next few years.
In May 1985, Pay 'n Save announced it would put all its subsidiaries up for sale. During this time, Dayton-Hudson
division Mervyns
was expected to acquire the company's 20 Lamonts stores and Southland Corporation, then-owner of 7-Eleven
, expressed interest in acquiring all 58 Schuck's Auto Supply stores. The first subsidiary to be sold was Price Savers Warehouse, in August 1985, to Cincinnati, Ohio
-based Kroger
.
On November 1, 1985, Pay 'n Save successfully spun-off Bi-Mart, Lamonts, and Schuck's to form a new company, Northern Pacific Corporation. With all divisions combined, the new company had sales of about $450 million, making it one of the Northwest's largest retail operations. Just eight days later, Pay 'n Save's flagship drugstore chain became controlled by a company equally owned by the Trump Group and a partnership headed by William Zimmerman, owner of California discount chain Pic 'N' Save
. The sale left Pay 'n Save with 69 Ernst Home Center stores, three Yard Birds stores, and wholesaler Northwestern Drug Co. By January 1986, Pay 'n Save Corp. was renamed Seattle Standard Corp.
On May 15, 1986, days after announcing plans to go public again, Pay 'n Save announced it would be taking on a new image and announced plans to remodel its 108 stores, which would include a new blue-and-green pain scheme. The company also announced its new emphasis on bargain goods and plans to raise $225 million by selling convertible bonds and 10-year notes.
In June 1986, Pic 'N' Save, filed a lawsuit against Pay 'n Save's investment banker, contending that materials outlining Pay 'n Save's stock offering misrepresent the role of Pic 'N' Save's former chairman, William Zimmerman. When Zimmerman left Pic 'N' Save in August 1984, he agreed not work for a competing company for one year, but the company's interests had been attempting to determine whether Zimmerman violated the agreement. The suit, filed in state Superior Court in Los Angeles, said that the "Zimmerman merchandising strategy", a key part in Pay 'n Save's business plan, includes Pic 'N' Save trade secrets and other confidential information. On July 1, 1986, Pic 'N' Save had filed a civil lawsuit against Pay 'n Save, William Zimmerman, and related parties, asking for more than $50 million compensatory damages and $50 million in punitive damages.
By the end of July 1986, Zimmerman and the Trumps again turned Pay 'n Save into a public company by selling $52 million in stock, despite a dramatic decline in sales since they took over. The company later reported a $12.8 million loss in the first quarter ending August 2. Mike Reynolds, senior reporter for New York industry publication Chain Drug Review, blamed the company's decline on Zimmerman's approach displaying tables of low-cost imported items. By December, the company's president, Maynard Jenkins, resigned for a job in California and the company's discounted items would no longer be carried.
and Wyoming
.
In June 1987, Pay 'n Save revealed its "back to basics" merchandising plan. The chain planned to revert their 106 drug stores back to the familiar blue-and-green color scheme, complete with new signs, and better lighting. The company's stores would focus on departments such as candy and snacks, stationery, household chemicals and greeting cards, while the pharmacies would remain the foundation of each store. The company's remodeling process was blamed for a loss of $9.6 million in the company's third quarter.
In August 1988, Gerald Nathanson, Pay 'n Save president and CEO, resigned from from the company. Richard Dortch, who began working with Pay 'n Save as a store clerk in 1969, was elected president of the 124-drugstore chain in January 1991.
By February 1992, Pay 'n Save was once again for sale. Days prior to the February 5 announcement, the company announced a loss of $88 million after a $250 million after-tax special charge. By March, PayLess Drug Stores
, a then subsidiary of Kmart
, emerged as a possible buyer for some or all Pay 'n Save 125 drugstores. PayLess officials were not able to comment at the time.
In June 1992, PayLess Drug Stores officially acquired the money-losing Pay 'n Save drug stores from Thrifty Corporation. Leonard Green & Partners
, a Los Angeles
investment firm that specializes in management buyouts agreed to acquire Thrifty Corporation's other division, including Pay 'n Save's Bi-Mart. Following the sale, the Pay 'n Save stores were renamed PayLess Drug.
M. Lamont Bean, the company's president from 1959 to 1984, died on February 5, 2004 at age 79.
Seattle, Washington
Seattle is the county seat of King County, Washington. With 608,660 residents as of the 2010 Census, Seattle is the largest city in the Northwestern United States. The Seattle metropolitan area of about 3.4 million inhabitants is the 15th largest metropolitan area in the country...
; 1940. Over the years, Pay 'n Save was the leading drug store chain in Washington and was the owner several Washington-based retailers including Lamonts
Lamonts
Lamonts was a chain of department stores founded in Seattle, Washington. The chain was started in 1970 when Pay 'n Save renamed its suburban branches of Rhodes, a department store chain the company acquired in 1965. Lamonts remained a division of Pay 'n Save until 1985...
and Ernst. A 1984 sale of the company to the Trump Group and a 1986 attempt to transform the retailer into a bargain-basement merchandiser resulted in a loss of nearly $50 million. By 1988, Pay 'n Save was sold to Thrifty Corporation
Thrifty PayLess
Thrifty PayLess Holdings, Inc. was a pharmacy holding company that owned the Thrifty Drugs and PayLess Drug Stores chains in the western United States....
who later sold the stores to PayLess Drug who retired the Pay 'n Save name. As a result, most of the retailer's divisions were spun-off as separate companies or shuttered. As of 2011, Pay 'n Save's membership discount chain, Bi-Mart
Bi-Mart
- External links :**, a December 2004 article from The Oregonian...
, is the lone surviving division of the company.
At the company's peak, Pay 'n Save was operating 313 stores in ten western states under several different names including Pay 'n Save, Ernst, Bi-Mart
Bi-Mart
- External links :**, a December 2004 article from The Oregonian...
, Lamonts
Lamonts
Lamonts was a chain of department stores founded in Seattle, Washington. The chain was started in 1970 when Pay 'n Save renamed its suburban branches of Rhodes, a department store chain the company acquired in 1965. Lamonts remained a division of Pay 'n Save until 1985...
, Sportswest, Schuck's Auto Supply
CSK Auto
CSK Auto, Inc. was a specialty retailer of automotive parts and accessories in the western United States and one of the largest retailers of such products in the entire country. Headquartered in Phoenix, Arizona, CSK Auto became a publicly traded company in March 1998, and grew through a...
, Yard Birds
Yard Birds
Yard Birds was originally a surplus store started in 1947 in Centralia, Washington. There were also Yard Birds stores in Chehalis, Olympia, and Shelton. While originally selling war surplus, Yard Birds became more of a discount store with many departments including hardware, toys, shoes and...
, Von Tobel's, and Price Savers.
Founding; company acquisitions
In 1940, businessman Monte Lafayette Bean arrived in Seattle, WashingtonSeattle, Washington
Seattle is the county seat of King County, Washington. With 608,660 residents as of the 2010 Census, Seattle is the largest city in the Northwestern United States. The Seattle metropolitan area of about 3.4 million inhabitants is the 15th largest metropolitan area in the country...
from Portland, Oregon
Portland, Oregon
Portland is a city located in the Pacific Northwest, near the confluence of the Willamette and Columbia rivers in the U.S. state of Oregon. As of the 2010 Census, it had a population of 583,776, making it the 29th most populous city in the United States...
to take over Tradewell Stores, Inc., a chain of grocery stores. By 1947, Bean and his son, M. Lamont Bean, opened the first Pay 'n Save drug store at Fourth Avenue and Pike Street in Seattle.
In March 1959, M. Lamont Bean became the president of Pay 'n Save and began considering operating other stores that were not pharmacies. Shortly after, Bean began an interest in Ernst Hardware, a local hardware chain owned by Seattle brothers Fred and Charles Ernst. Fred Ernst agreed to sell Ernst Hardware and its nine locations to Pay 'n Save in February 1960. In 1962, Pay 'n Save acquired Malmo Nursery and began opening Ernst-Malmo combination stores; combining hardware, lumber, garden supplies, and nursery items in one building. The first Ernst-Malmo combination store was opened at the University Village shopping center in Seattle. By 1982, Ernst was operating 68 hardware stores.
In 1965, Pay 'n Save acquired the Rhodes department stores chain. Pay 'n Save shuttered the Rhodes flagship store in Seattle during 1968. The Rhodes name was retired from the suburban branches when M. Lamont Bean renamed the stores Lamonts
Lamonts
Lamonts was a chain of department stores founded in Seattle, Washington. The chain was started in 1970 when Pay 'n Save renamed its suburban branches of Rhodes, a department store chain the company acquired in 1965. Lamonts remained a division of Pay 'n Save until 1985...
in 1970. During 1976, Pay 'n Save acquired discount chains Bi-Mart
Bi-Mart
- External links :**, a December 2004 article from The Oregonian...
and Yard Birds
Yard Birds
Yard Birds was originally a surplus store started in 1947 in Centralia, Washington. There were also Yard Birds stores in Chehalis, Olympia, and Shelton. While originally selling war surplus, Yard Birds became more of a discount store with many departments including hardware, toys, shoes and...
.
Death of founder; Trump Group takeover
Salt Lake City, Utah
Salt Lake City is the capital and the most populous city of the U.S. state of Utah. The name of the city is often shortened to Salt Lake or SLC. With a population of 186,440 as of the 2010 Census, the city lies in the Salt Lake City metropolitan area, which has a total population of 1,124,197...
. In December 1983, Pay 'n Save acquired Schuck's Auto Supply, Inc.
CSK Auto
CSK Auto, Inc. was a specialty retailer of automotive parts and accessories in the western United States and one of the largest retailers of such products in the entire country. Headquartered in Phoenix, Arizona, CSK Auto became a publicly traded company in March 1998, and grew through a...
for about $70 million in Pay 'n Save common stock
Common stock
Common stock is a form of corporate equity ownership, a type of security. It is called "common" to distinguish it from preferred stock. In the event of bankruptcy, common stock investors receive their funds after preferred stock holders, bondholders, creditors, etc...
. At the time, Schuck's had 58 stores in Washington, Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
, and Idaho
Idaho
Idaho is a state in the Rocky Mountain area of the United States. The state's largest city and capital is Boise. Residents are called "Idahoans". Idaho was admitted to the Union on July 3, 1890, as the 43rd state....
.
In September 1984, the Pay 'n Save board voted to sell the retailer and to give a lockup option on $4.1 million shares to the Trump Group (no relation to New York real estate developer Donald Trump
Donald Trump
Donald John Trump, Sr. is an American business magnate, television personality and author. He is the chairman and president of The Trump Organization and the founder of Trump Entertainment Resorts. Trump's extravagant lifestyle, outspoken manner and role on the NBC reality show The Apprentice have...
) in an effort to stave off other bids.
Pay 'n Save's largest shareholders, Stuart Sloan and Samuel N. Stroum, vowed to fight the sale of the retail company. Sloan and Stroum, who own 18 percent of Pay 'n Save's stock, issued a statement telling shareholders not to "be stampeded into acting hastily". On September 12, 1984, The Trump Group announced that it had withdraw its offer to purchase Pay 'n Save in order to negotiate two Sloan and Stroum. On October 15, 1984, Pay 'n Save was officially sold to the Trumps for $358 million.
Sale of subsidiaries
Thrifty PayLess
Thrifty PayLess Holdings, Inc. was a pharmacy holding company that owned the Thrifty Drugs and PayLess Drug Stores chains in the western United States....
reopened the stores under the Big 5 Sporting Goods
Big 5 Sporting Goods
Big 5 Sporting Goods is a sporting goods retailer headquartered in El Segundo, California with 388 stores in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oklahoma, Oregon, Texas, Utah, Washington and Wyoming. Steven G. Miller is the Chairman, President, and CEO.The Big 5 name is...
name. Sportswest was the first of several Pay 'n Save division to be sold over the next few years.
In May 1985, Pay 'n Save announced it would put all its subsidiaries up for sale. During this time, Dayton-Hudson
Target Corporation
Target Corporation, doing business as Target, is an American retailing company headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart. The company is ranked at number 33 on the Fortune 500 and is a component of the Standard & Poor's...
division Mervyns
Mervyns
Mervyns was an American middle scale department store chain based in Hayward, California. It carried national brands of clothing, footwear, bedding, furniture, jewelry, beauty products, electronics, and housewares. Many of the company's stores were in shopping malls...
was expected to acquire the company's 20 Lamonts stores and Southland Corporation, then-owner of 7-Eleven
7-Eleven
7-Eleven is part of an international chain of convenience stores, operating under Seven-Eleven Japan Co. Ltd, which in turn is owned by Seven & I Holdings Co...
, expressed interest in acquiring all 58 Schuck's Auto Supply stores. The first subsidiary to be sold was Price Savers Warehouse, in August 1985, to Cincinnati, Ohio
Cincinnati, Ohio
Cincinnati is a city in the U.S. state of Ohio. Cincinnati is the county seat of Hamilton County. Settled in 1788, the city is located to north of the Ohio River at the Ohio-Kentucky border, near Indiana. The population within city limits is 296,943 according to the 2010 census, making it Ohio's...
-based Kroger
Kroger
The Kroger Co. is an American supermarket chain founded by Bernard Kroger in 1883 in Cincinnati, Ohio. It reported US$ 76.7 billion in sales during fiscal year 2009. It is the country's largest grocery store chain and its second-largest grocery retailer by volume and second-place general retailer...
.
On November 1, 1985, Pay 'n Save successfully spun-off Bi-Mart, Lamonts, and Schuck's to form a new company, Northern Pacific Corporation. With all divisions combined, the new company had sales of about $450 million, making it one of the Northwest's largest retail operations. Just eight days later, Pay 'n Save's flagship drugstore chain became controlled by a company equally owned by the Trump Group and a partnership headed by William Zimmerman, owner of California discount chain Pic 'N' Save
Pic 'N' Save
Pic 'N' Save was, at one time, the second-largest closeout retail chain in the United States. Financial troubles caused the chain to close many of the markets in the late-1990s and early-2000s.-History:...
. The sale left Pay 'n Save with 69 Ernst Home Center stores, three Yard Birds stores, and wholesaler Northwestern Drug Co. By January 1986, Pay 'n Save Corp. was renamed Seattle Standard Corp.
Return as a public company
After 19 months as a privately held company, Pay 'n Save announced plans to return as a public company in May 1986. The company planned to sell 3 million shares at from $16 to $18 a share. As part of the transaction, the company purchased Bi-Mart, a former division of the original Pay 'n Save Corp. The original company sold its first shares of common stock to the general public in 1962 and reverted to private ownership on October 1984.On May 15, 1986, days after announcing plans to go public again, Pay 'n Save announced it would be taking on a new image and announced plans to remodel its 108 stores, which would include a new blue-and-green pain scheme. The company also announced its new emphasis on bargain goods and plans to raise $225 million by selling convertible bonds and 10-year notes.
In June 1986, Pic 'N' Save, filed a lawsuit against Pay 'n Save's investment banker, contending that materials outlining Pay 'n Save's stock offering misrepresent the role of Pic 'N' Save's former chairman, William Zimmerman. When Zimmerman left Pic 'N' Save in August 1984, he agreed not work for a competing company for one year, but the company's interests had been attempting to determine whether Zimmerman violated the agreement. The suit, filed in state Superior Court in Los Angeles, said that the "Zimmerman merchandising strategy", a key part in Pay 'n Save's business plan, includes Pic 'N' Save trade secrets and other confidential information. On July 1, 1986, Pic 'N' Save had filed a civil lawsuit against Pay 'n Save, William Zimmerman, and related parties, asking for more than $50 million compensatory damages and $50 million in punitive damages.
By the end of July 1986, Zimmerman and the Trumps again turned Pay 'n Save into a public company by selling $52 million in stock, despite a dramatic decline in sales since they took over. The company later reported a $12.8 million loss in the first quarter ending August 2. Mike Reynolds, senior reporter for New York industry publication Chain Drug Review, blamed the company's decline on Zimmerman's approach displaying tables of low-cost imported items. By December, the company's president, Maynard Jenkins, resigned for a job in California and the company's discounted items would no longer be carried.
Return to old format
In January 1987, Pay 'n Save reported a lost of nearly $50 million in the last year. At the time, chief executive Gerald Nathanson said Pay 'n Save management believes a new merchandising strategy and restructuring "will strengthen Pay ' n Save and improve its future performance significantly". In February 1987, Pay 'n Save announced the closure of all stores in MontanaMontana
Montana is a state in the Western United States. The western third of Montana contains numerous mountain ranges. Smaller, "island ranges" are found in the central third of the state, for a total of 77 named ranges of the Rocky Mountains. This geographical fact is reflected in the state's name,...
and Wyoming
Wyoming
Wyoming is a state in the mountain region of the Western United States. The western two thirds of the state is covered mostly with the mountain ranges and rangelands in the foothills of the Eastern Rocky Mountains, while the eastern third of the state is high elevation prairie known as the High...
.
In June 1987, Pay 'n Save revealed its "back to basics" merchandising plan. The chain planned to revert their 106 drug stores back to the familiar blue-and-green color scheme, complete with new signs, and better lighting. The company's stores would focus on departments such as candy and snacks, stationery, household chemicals and greeting cards, while the pharmacies would remain the foundation of each store. The company's remodeling process was blamed for a loss of $9.6 million in the company's third quarter.
Thrifty Corporation and PayLess Drug
In April 1988, Pay 'n Save was put up for sale. The sale attracted interest from Thrifty Corporation, who previously acquired Sportswest from Pay 'n Save in 1984. On May 13, Thrifty announced plans to acquire the company's 110 Pay 'n Save drug stores and 37 Bi-Mart discount stores for stock worth $232 million. Thrifty also announced plans to keep the Pay 'n Save and Bi-Mart names and the company's current employees. In the previous year, Pay 'n Save was left with a $27 million loss and a $49 million loss in 1986.In August 1988, Gerald Nathanson, Pay 'n Save president and CEO, resigned from from the company. Richard Dortch, who began working with Pay 'n Save as a store clerk in 1969, was elected president of the 124-drugstore chain in January 1991.
By February 1992, Pay 'n Save was once again for sale. Days prior to the February 5 announcement, the company announced a loss of $88 million after a $250 million after-tax special charge. By March, PayLess Drug Stores
Thrifty PayLess
Thrifty PayLess Holdings, Inc. was a pharmacy holding company that owned the Thrifty Drugs and PayLess Drug Stores chains in the western United States....
, a then subsidiary of Kmart
Kmart
Kmart, sometimes styled as "K-Mart," is a chain of discount department stores. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Wal-Mart and...
, emerged as a possible buyer for some or all Pay 'n Save 125 drugstores. PayLess officials were not able to comment at the time.
In June 1992, PayLess Drug Stores officially acquired the money-losing Pay 'n Save drug stores from Thrifty Corporation. Leonard Green & Partners
Leonard Green & Partners
Leonard Green & Partners is a private equity firm specializing in leveraged buyout transactions, particularly of middle market companies. As of 2010, the firm had with approximately $9 billion in assets under management....
, a Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
investment firm that specializes in management buyouts agreed to acquire Thrifty Corporation's other division, including Pay 'n Save's Bi-Mart. Following the sale, the Pay 'n Save stores were renamed PayLess Drug.
M. Lamont Bean, the company's president from 1959 to 1984, died on February 5, 2004 at age 79.
Current status of former subsidiaries
- Bi-MartBi-Mart- External links :**, a December 2004 article from The Oregonian...
: Bi-Mart's parent company, Thrifty PayLess was sold to Rite AidRite AidRite Aid is a drugstore chain in the United States and a Fortune 500 company headquartered in East Pennsboro Township, Pennsylvania, near Camp Hill. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S....
in October 1996 for $1.3 billion. Rite Aid sold Bi-Mart to Endeavour Capital in 1997. By 2004, Endeavour Capital transferred ownership of the company to its employees through an employee stock ownership plan. - Ernst Home Centers: Ernst went public in 1994 in a bid to raise $50 million to open 55 superstores. Tough competition from larger stores forced the company to file for Chapter 11 bankruptcy in July 1996 and close 33 stores. The company suffered more losses and announced the closure of its remaining 53 stores in November 1996.
- LamontsLamontsLamonts was a chain of department stores founded in Seattle, Washington. The chain was started in 1970 when Pay 'n Save renamed its suburban branches of Rhodes, a department store chain the company acquired in 1965. Lamonts remained a division of Pay 'n Save until 1985...
: In August 1989, Northern Pacific sold the chain to Scottsdale, ArizonaScottsdale, ArizonaScottsdale is a city in the eastern part of Maricopa County, Arizona, United States, adjacent to Phoenix. According to the U.S. Census Bureau, as of 2010 the population of the city was 217,385...
-based Aris Corporation for $135 million. Lamonts filed for Chapter 11 bankruptcy in January 1995 and once more in January 2000. In April 2000, California-based GottschalksGottschalksGottschalks was a middle-tier American department store that operated 58 department stores and three specialty apparel stores in six western states ; some locations ran as Harris-Gottschalks stores...
purchased Lamonts' store leases for $19 million. The $19 million deal did not include Lamonts inventory, which was sold off. Gottschalks eventually filed for Chapter 11 bankruptcy and liquidated in mid-2009 during the Late-2000s recession. - Price Savers Warehouse: Only three years after buying Price Savers, Kroger sold the 16-unit chain to a management-led investment group in September 1988. Kmart's Pace Membership Warehouse division acquired Price Savers for an undisclosed amount of cash in January 1991. Pace was eventually absorbed in Wal-MartWal-MartWal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
's Sam's ClubSam's ClubSam's Club is a chain of membership-only retail warehouse clubs owned and operated by Wal-Mart Stores, Inc., founded in 1983 and named after Wal-Mart founder Sam Walton. , the Sam's Club chain serves more than 47 million U.S. members...
division in 1993. - Schuck's Auto Supply: In 1987, Jules and Eddie Trump combined Schuck's, Kragen Auto Parts, and Checker Auto Parts to form Northern Automotive; later renamed CSK AutoCSK AutoCSK Auto, Inc. was a specialty retailer of automotive parts and accessories in the western United States and one of the largest retailers of such products in the entire country. Headquartered in Phoenix, Arizona, CSK Auto became a publicly traded company in March 1998, and grew through a...
. CSK Auto made a public offering of its stock in 1998 and became to first major auto parts retailer to sell products on the internet in 1999. O'Reilly Auto PartsO'Reilly Auto PartsO'Reilly Auto Parts , originally known as O'Reilly Automotive, Inc., is a publicly traded chain of auto parts stores that started with one store in Springfield, Missouri in 1957. It has since grown to include more than 3,469 stores in 38 states. The corporate headquarters of O'Reilly is located in...
, the third largest U.S. auto parts chain, acquired CSK Auto for $528 million in 2008. O'Reilly plans on converting all CSK Auto-owned stores to the O'Reilly name. - Yard BirdsYard BirdsYard Birds was originally a surplus store started in 1947 in Centralia, Washington. There were also Yard Birds stores in Chehalis, Olympia, and Shelton. While originally selling war surplus, Yard Birds became more of a discount store with many departments including hardware, toys, shoes and...
: In 1987, Seattle Standard sold the chain to its employees through an employee stock ownership plan. Rich Gillingham, co-founder of Yard Birds, died in 1992. The company closed one store in 1993 and closed its last two stores in 1995.