Garfinckel's
 |
|
| Industry | Retail |
|---|---|
| Fate | Bankruptcy |
| Founded | 1905 |
| Defunct | 1990 |
| Headquarters | Washington, D.C. |
|
Key people
|
Julius Garfinckel, founder |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, housewares |
Garfinckel's was a prominent department store chain based in Washington, D.C. that catered to a clientele of wealthy consumers. It filed for Chapter 11 bankruptcy in June 1990 and ceased operations that year.
This retail mercantile business was founded in 1905, as Julius Garfinkel & Co. by Julius Garfinckel (1872–1936), originally employing 10 clerks. In 1946, it acquired the men's specialty retailer, Brooks Brothers and in 1950, De Pinna. It formed the national retail conglomerate, Garfinckel, Brooks Brothers, Miller & Rhoads, Inc., after acquisition of the Miller & Rhoads chain in 1967. In 1977, the conglomerate acquired the Ann Taylor women's fashion store chain. In 1981, the conglomerate consisted of close to 190 stores in seven chains. That same year, Allied Stores acquired Garfinckel, Brooks Brothers, Miller & Rhoads, Inc. for $228 million. In 1986, Campeau Corp. acquired Allied, and in turn sold the Garfinkel's chain to locally owned Raleigh's for $95 million, forming Garfinkel's, Raleigh's & Co.
Garfinkel's grew and expanded into a chain of stores, but was eventually pushed into financial collapse due to a series of mergers and acquisitions. On June 21, 1990, the company filed for Chapter 11 bankruptcy by its chairman and CEO George P. Kelly and went out of business.
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