The Downfall
After years of prosperity, Barkers was on its downfall, along with several other major retailers. King's Department Stores Inc. (later renamed KDT Industries, Inc) acquired the financially ailing Barkers for $30 million in August 1980. Included in this deal was the 125 Franklin Store chain, a women's specialty shop retailer. Barker's stores retained their name until early 1981, when most Barker's were renamed King's. Barker's stores not purchased by King's were either closed or sold to other retailers. At the time of this purchase, Barker's operated 63 stores. Only the stores in Louisiana, Puerto Rico and Virgin Islands retained the Barker's name. KDT Industries, under a reorganization plan, would finally close all Louisiana Barker's stores on October 24, 1982.
Read more about this topic: Barker's Discount Department Stores
Famous quotes containing the word downfall:
“Children demand that their heroes should be fleckless, and easily believe them so: perhaps a first discovery to the contrary is less revolutionary shock to a passionate child than the threatened downfall of habitual beliefs which makes the world seem to totter for us in maturer life.”
—George Eliot [Mary Ann (or Marian)
“Show me one thing here on earth which has begun well and not ended badly. The proudest palpitations are engulfed in a sewer, where they cease throbbing, as though having reached their natural term: this downfall constitutes the heart’s drama and the negative meaning of history.”
—E.M. Cioran (b. 1911)