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In May 1985, Service Merchandise acquired the H. J. Wilson Co. for approximately $200 million. Raymond Zimmerman, the CEO, was attracted to Wilson's stores to gain a stronger foothold in the Sun Belt states. [3] [4] Several of these Wilson's locations included an off-priced apparel department of about 15,000 square feet (1,400 m 2).
The store was begun by Huey John Wilson in 1947 as a jewelry vendor in Baton Rouge, Louisiana. Ten years later, Wilson opened his first catalog showroom. By 1982, Wilson's was the third-largest catalog showroom chain in the United States. [1] At its peak, it had 80 stores in 12 states.
Federated Group was an American chain of consumer electronics retail stores with 67 stores in California, Texas, Arizona, and Kansas. [1] The company was founded by Wilfred Schwartz in 1970, and opened the first deep discount consumer electronics "superstore" in the United States. [2]
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In 1993, Dixons decided to throw in the towel on its investment, and sold a controlling stake in Silo for $45 million (~$85.7 million in 2023) to Fretter, Inc. Fretter was a Detroit, Michigan-based company, operating electronics stores under the Fretter's, YES! (short for Your Electronics Store), Dash Concepts, and Fred Schmid banners.
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