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| Industry | Retail |
|---|---|
| Founded | 1914 |
| Founder | Maurice Goldblatt Nathan Goldblatt |
| Defunct | 2003 (final liquidation; all stores closed by 2000) |
| Fate | Liquidation |
| Headquarters | Chicago, Illinois, U.S. |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, electronics and housewares |
Goldblatt's was an American chain of local discount stores that operated in Chicago, Illinois, as well as Indiana, Michigan and Wisconsin. Founded in 1914, the chain grew to more than twenty stores at its peak, gradually closing some stores in the 1990s and selling others to Ames before finally closing completely in 2000.
History
Early beginnings
United States historic place| Goldblatt Bros. Department Store | |
| U.S. National Register of Historic Places | |
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  Location in ChicagoShow map of Chicago metropolitan area Location in IllinoisShow map of Illinois Location in United StatesShow map of the United States | |
| Location | 4700 S. Ashland Ave., Chicago, Illinois |
|---|---|
| Coordinates | 41°48′30″N 87°39′55″W / 41.80833°N 87.66528°W / 41.80833; -87.66528 |
| Area | less than one acre |
| Built | 1915 |
| Architect | Alfred S. Alschuler |
| Architectural style | Chicago |
| NRHP reference No. | 06001016 |
| Added to NRHP | November 15, 2006 |
Goldblatt's was founded in 1914 by brothers Nate and Maurice Goldblatt. Immigrants from Poland, the Goldblatt family ran a grocery store and butcher shop on Chicago's West Side. Nate and Maurice opened their first store near the corner of Ashland and Chicago Avenue. By 1922, the store recorded sales of over $800,000. By 1928 the brothers formed Goldblatt Brothers Inc. During the Great Depression of the 1930s Goldblatt's did well, and the brothers were able to purchase several smaller department stores.
In 1936, Goldblatt's opened its State Street flagship store at State and Van Buren. Goldblatt's moved towards more upscale products and offered small appliances, a deli, and confectionery goods.
Bankruptcy
By 1946 Goldblatt's was operating 15 stores with $62 million in annual sales. Things went well even as the Goldblatt brothers began to quarrel. In 1941, a one-store expansion into Buffalo, New York, was met with little success; the store closed on November 27, 1948, following a unionization attempt by the employees. By the 1950s growth began to stall, with profits flat-lining and new store openings averaging four a year.
By the mid-1960s, retailers such as Kmart, Woolco, Zayre, and Sears were digging into Goldblatt's market. Expansion into the suburbs proved to be a difficult obstacle for Goldblatt's. Middle class shoppers were not enticed to shop at Goldblatt's. The company declared bankruptcy in 1981.
In 1982, Goldblatt's reopened with six stores. The mission of the company was restored to selling to low income families. The flagship store, which was to be sold to City of Chicago under Mayor Jane Byrne for a public library location, later sold to DePaul University when the Harold Washington Library was built. Without the money from the City of Chicago Goldblatt's would have closed. Jerrold Wexler helped save the firm from bankruptcy. By 1985 Goldblatt's was profitable.
However, changing markets, increasing competition, and old stores doomed the chain. In 2000, Goldblatt's closed once again. Ames purchased several former stores to enter the Chicago market again (Ames had taken over many of Zayre's former Chicago stores, all of them later closed). But later in that same year, it returned and reopened its 47th and Ashland location. Goldblatt's later reclaimed four more locations when Ames closed its Chicago stores. In 2003, the company closed its stores for good and liquidated.
Ames
Shortly after Goldblatt's closed its stores, discount retailer Ames purchased seven of the stores for $7.6 million in April 2000.
References
- "National Register Information System". National Register of Historic Places. National Park Service. July 9, 2010.
- ^ "JG Industries Inc. Company History". Funding Universe. Retrieved 2006-05-30.
- Rizzo, Michael F. (2007). Nine Nine Eight: The Glory Days of Buffalo Shopping. Lulu Enterprises, Inc.; Morrisville, North Carolina. p. 115. ISBN 978-1-4303-1386-1.
- Becker, Lynn (June 11, 2004). "Sleekness in Seattle". Chicago Reader. Retrieved February 9, 2022 – via Repeat.
- Guy, Sandra (September 21, 2000). "Goldblatt's makes comeback". Chicago Sun-Times.
- Guy, Sandra (January 19, 2002). "Goldblatt's looking at former sites". Chicago Sun-Times.
- "Ames Department Store Inc". SEC Info. 2000-04-29.
External links
- Encyclopedia of Chicago
- Former Store Implosion at the Wayback Machine (archived February 15, 2013)
| U.S. National Register of Historic Places | |
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- Defunct companies based in Chicago
- 1914 establishments in Illinois
- Retail companies disestablished in 2000
- Defunct discount stores of the United States
- Commercial buildings on the National Register of Historic Places in Chicago
- Department stores on the National Register of Historic Places
- American companies established in 1914
- Retail companies established in 1914
- 2000 disestablishments in Illinois
- Chicago Landmarks