K's Merchandise Mart
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| Former type | Corporation (privately held) |
|---|---|
| Fate | Liquidated |
| Founded | Decatur, Illinois, U.S. 1957 |
| Founder(s) | Kay and Raymond "Ray" Eldridge Sr.[1][2] |
| Defunct | January 2007 |
| Headquarters | Decatur, Illinois, U.S. |
| Number of locations | 17 stores (at closing)[1] |
| Area served | Illinois, Indiana, Iowa, Missouri, Kentucky[1] |
| Key people | Bill Weinstein (last president)[1] |
| Industry | Retail |
| Services | Catalog merchant |
| Owner(s) | family owned (until 2000s) Gordon Brothers Group[1] |
K's Merchandise Mart, Inc. (usually known as simply K's Merchandise) was a catalog showroom department store based in Decatur, Illinois.[2] It offered furniture, jewelry, and general merchandise, including electronics, at 17 locations in 5 Midwestern states at the time of its closing.[1][3]
K's was founded in 1957 by Raymond "Ray" Eldridge Sr. and his brother Kay.[1][2] However, by the 2000s, competition from big box stores had eroded K's sales for years, though it had 17 locations in Illinois, Indiana, Iowa, Missouri, and Kentucky. Boston's Gordon Brothers Group took over the company from the original family, appointing Bill Weinstein as president. After an attempt at turning around the stores' operations, K's announced on 3 October 2006 that it would liquidate and close to pay off its creditors in full.[1] The final stores closed by January 2007.[citation needed]
[edit] References
- ^ a b c d e f g h Reid, Tony (2006-10-03). "K's Merchandise closing". The Pantagraph. Bloomington, Illinois: Lee Enterprises. http://www.pantagraph.com/business/article_e44edcd6-ce57-58b2-8ac2-2719394da5f7.html. Retrieved 2009-09-21.
- ^ a b c Murphy, H. Lee (2009-12-18). "Liquidation closes book on K's chain; Catalog showroom victim of big retailers.". Crain's Chicago Business. http://www.highbeam.com/doc/1G1-156236265.html. Retrieved 2009-09-21.
- ^ "K's Merchandise Mart, Inc.". BusinessWeek-Capital IQ Company Insight Center. McGraw-Hill. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4248557. Retrieved 2009-09-21.
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