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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] Belk bought in volume to pass savings on and sold at fixed prices, then a relatively unusual practice. [4]
As Saks sought repositioning as a more luxury retail-oriented operation, its mid-range chains became targets for sale. McRae's and Proffitt's were among the first to be sold. Charlotte-based Belk, the nation's largest privately owned department store chain, bought Proffitt's/McRae's in a deal that closed in July 2005. [5] [6]
Proffitt's was a department store chain based in Alcoa, Tennessee.The chain was founded in 1919 by David W. Proffitt and James Ellis. In 2006, the Proffitt's and McRae's stores were converted into Belk after Belk had acquired the two chains in July 2005 from Saks, Inc.
Carolina Circle Mall was anchored by Belk, Ivey's and Montgomery Ward. Belk opened its doors in February 1976, and Montgomery Ward's, Ivey's and twenty-two other stores opened in August of that year. It was Ivey's first department store in Greensboro. The mall encompassed 800,000 sq ft (74,000 m 2).
The original anchor stores were Belk, JCPenney, and Meyers-Arnold, with H. J. Wilson Co. joining in the 1980s. The latter two stores became Uptons and Service Merchandise respectively in the 1980s. Following the closure of those stores, the mall was purchased by a new owner in 2000 and renamed three years later to Greenwood Mall.
The Limited products are also available for purchase through Belk online. [ 16 ] [ 17 ] On February 23, 2021, it was announced that Belk, which was the only remnant of The Limited left, had filed Chapter 11 bankruptcy in Houston , the first step in an organization plan that would allow Belk's owner Sycamore Partners to cede a large stake in the ...
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