Who owns Belk?

Private equity firm Sycamore Partners has entered into a definitive agreement to acquire Belk, Inc., the family owned and operated fashion department store company.

Is Belk a privately owned company?

Belk, founded by William Henry Belk in 1888, is the nation's largest privately owned department store chain. The company owns 290 stores, located primarily in the southeastern U.S. and sells moderately priced designer and private brand apparel.

Is Belk owned by Macy's?

Belk was founded in the Charlotte area in 1888 by the Belk family. The private company was acquired in 2015 by New York private equity firm Sycamore Partners for about $3 billion. Brownfield covers restaurants, retail, courts and Procter & Gamble.

Why is Belk going out of business?

"The COVID-19 pandemic directly resulted in drastic declines in sales, revenue, and liquidity," William Langley, Belk's chief financial officer, said in a statement alongside the bankruptcy filing.

Who owns Dillards?

Son Bill Dillard II has served as chief executive officer since his father retired in 1998 and owns 10% of the company, while brothers, Alex Dillard and Mike Dillard, are president and executive vice president, respectively.

The History of Belk Department Stores

When did Sycamore Partners buy Belk?

Sycamore Partners Completes Acquisition Of Belk, Inc. - Dec 10, 2015.

Is Belk like Macys?

All would depend on the quality of Belk's real estate portfolio — it is primarily a mall-based retailer whose stores are smaller than a typical Macy's. It owns — or has a ground lease — on about half its fleet. While Bon-Ton's name has been floating around as a prospective buyer, that notion is ludicrous.

What happened to Belk department store?

Belk filed for Chapter 11 bankruptcy protection on Feb. 23, 2021 with a plan to restructure and eliminate $450 million of debt. Belk emerged from bankruptcy protection a day later.

Are Kohl's and JCPenney owned by the same company?

Simon Property Group and Brookfield Asset Management, owners of JCPenney, bid $8.6 billion ($68 a share) to buy Kohl's. If the offer is accepted, the brands will continue to operate as separate stores. However, the owners would combine operations to cut overall business costs.

Are Macy's and Dillards owned by the same company?

They are two distinct brands that serve a similar audience: middle and upper-income Americans. Both department stores operate from regional stores and are two of America's largest retail stores. Macy's is owned by Macy's Inc. and Dillard's is owned by Dillard's Inc.

What did Dillard's used to be called?

In 1974, five Leonard's stores were acquired in Fort Worth, Texas, as well as a commitment to open a new downtown Fort Worth store at the Tandy Center (site of the original Leonard's). Also in 1974, the former Brown-Dunkin, Blass, Pfeifer and Mayer & Schmidt stores were fully renamed Dillard's.

How much is the Belk family worth?

Forbes pegs the Belks' fortune at $1.4 billion, ranking the family No. 147 on the list. The John Belk Freeway that loops around the center city bears the clan's name, as does the N.C. Blumenthal Performing Arts Center's Belk Theater and the Belk College of Business at UNC Charlotte.

How is Belk doing financially?

Amid the lockdown orders when the COVID-19 pandemic hit the U.S., and the depressed shopping at stores that followed reopening, Belk's sales fell 32% year over year in the months between March and December last year. Liquidity in April 2020 was down 70%.

Who is the owner of Target stores?

Who Owns Target Corporation? Target is a retail chain that is owned by the TARGET Corporation. The company was founded by George Dayton in 1902 as Dayton's department store, and it adopted its current name in 1962. Target operates more than 1,800 stores in the United States, and it employs more than 400,000 people.

What other stores Does Macy's own?

Headquartered in New York City, the company comprises three retail brands: Macy's, Bloomingdale's and Bluemercury. With a robust e-commerce business, rich mobile experience and a national stores footprint, our customers can shop the way they live — anytime and through any channel.

Who owns Von Maur?

The Petersen family sold their store to Harned & von Maur. Harned & von Maur physically merged with Petersen's into one location and the store was renamed Petersen Harned & von Maur. The von Maur family took full ownership of the store.

Who did Belk buy?

On July 5, 2005, Belk acquired 47 Proffitt's and McRae's stores from Saks Incorporated. The stores, most of which are located in Tennessee and Mississippi, began operating under the Belk name in spring 2006.