Stuart's Department Stores
Encyclopedia
Stuarts Department Stores Inc. was founded in New England
in 1957. It incorporated as a Delaware corporation
in 1983, around which time the regional clothing and houseware retailer had stores in every state in New England with a primary focus on Massachusetts
. Its stock once traded for close to $30 a share.
"-like color scheme. They rapidly expanded to 26 outlets, including the purchase of Harry's of Barre, Vermont. A major distribution and office complex was also built in Franklin, Massachusetts
.
During all of this change there was instability in corporate management. The chaos this caused resulted in a missed opportunity for this small retailer. They never modernized their sales/inventory tracking systems at the store level. While other chains like Rich's Department Stores
were already using barcode scanners, computerized shipping manifests, and automated sales result reports, Stuarts was still doing it by hand. By the early 1990s shares struggled to maintain $1 per share
The company filed for Chapter 11 protection in December 1990, emerged from the chapter 11 case in October 1992 and re-filed for protection under chapter 11 in May 1995.
New England
New England is a region in the northeastern corner of the United States consisting of the six states of Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut...
in 1957. It incorporated as a Delaware corporation
Delaware corporation
The Delaware General Corporation Law is the statute governing corporate law in the state of Delaware. Delaware is well known as a corporate haven. Over 50% of U.S...
in 1983, around which time the regional clothing and houseware retailer had stores in every state in New England with a primary focus on Massachusetts
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
. Its stock once traded for close to $30 a share.
History
Through the 1980s and 1990s the store went through a variety of major changes. First the chain tried to shed its image as a reseller of leftover department store merchandise by investing in their own label. They also invested a major amount of capital into a cosmetic overhaul of their real estate that introduced a more "BradleesBradlees
Bradlees was a chain of discount department stores which operated primarily in the Northeastern United States. The chain went bankrupt in 2000 and all of its stores were closed by March 2001.-History:...
"-like color scheme. They rapidly expanded to 26 outlets, including the purchase of Harry's of Barre, Vermont. A major distribution and office complex was also built in Franklin, Massachusetts
Franklin, Massachusetts
The Town of Franklin is a city in Norfolk County, Massachusetts, United States. The population was 31,635 at the 2010 census.-History:Franklin was first settled by Europeans in 1660 and was officially incorporated during the American Revolution. The town was formed from the western part of the town...
.
During all of this change there was instability in corporate management. The chaos this caused resulted in a missed opportunity for this small retailer. They never modernized their sales/inventory tracking systems at the store level. While other chains like Rich's Department Stores
Rich's Department Stores
Rich's, a former family-owned business established in 1962, grew out of Jerry's Army Navy Surplus in Salem, Massachusetts, USA. The Rich family once operated 29 stores in Maine, New Hampshire, Vermont and Massachusetts, which offered discounted merchandise.-History:Rich's, founded by Jerry Rich,...
were already using barcode scanners, computerized shipping manifests, and automated sales result reports, Stuarts was still doing it by hand. By the early 1990s shares struggled to maintain $1 per share
The company filed for Chapter 11 protection in December 1990, emerged from the chapter 11 case in October 1992 and re-filed for protection under chapter 11 in May 1995.