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The first Belk, established as New York Racket, in 1902. Belk was founded in 1888 by William Henry Belk in Monroe, North Carolina, outside Charlotte.The store was first called New York Racket and then Belk Brothers, after Belk made his brother, physician John Belk, his partner. [3]
Sycamore also sold over 300 Dollar Express stores to rival, Dollar General. [27] In July 2020, it was announced that Sycamore Partners had made a $1.75 billion offer to acquire department store chain and competitor JCPenney out of bankruptcy, and would rebrand 250 JCPenney stores to the Belk name, to help the chain compete directly with Macy's.
The Limited is an American clothing brand sold exclusively through Belk. The Limited began with operating retail stores between the early 1960s and the late 2010s. In 2017, it became a brand owned by the private equity firm Sycamore Partners. [1] [2] [3]
Three generations of the Belk family led the company to become the biggest family-owned department store chain in the U.S. by 2015, when it was sold for $3 billion to Sycamore.
Belk, a North Carolina-based department store chain with almost 300 branches in the southeast, ... which bought the family-owned franchise for $3 billion in 2015, announced Tuesday that it will ...
Timeline of former nameplates merging into Macy's. Many United States department store chains and local department stores, some with long and proud histories, went out of business or lost their identities between 1986 and 2006 as the result of a complex series of corporate mergers and acquisitions that involved Federated Department Stores and The May Department Stores Company with many stores ...
Sycamore, which has raised about $10 billion in aggregate committed capital, is an experienced retail investor that owns retailers like Staples, Loft, Ann Taylor, Talbots and Belk.
In September 2006, The Bon-Ton purchased four Parisian stores (plus one under construction) from Belk, which had just purchased the chain; the stores were located in Michigan, Indiana, and Ohio, outside Belk's traditional operating territory. The stores in Indiana and Ohio soon became Carson Pirie Scott [8] and Elder-Beerman, respectively