Watson's (United States)

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Ira A. Watson
Type Private
Founded 1907
Headquarters Knoxville, Tennessee, United States
Industry Retail
Products apparel, home furnishings

Ira A. Watson Co., more commonly known as Watson's, was a department store chain based in Knoxville, Tennessee, United States. It was founded in 1907 and grew to several locations throughout the Southeastern United States before it was purchased in 1998 by Peebles.

Contents

[edit] History

Expanding from the original operation, the company opened a group of downtown stores in county seat towns. As shopping centers and malls developed, Watson's opened substantially larger stores in those locations. Operations grew from a single location in Knoxville, Tennessee to numerous locations in Alabama, Kentucky, Tennessee, Virginia, West Virginia, South Carolina, North Carolina, Missouri, Indiana, and Illinois. The merchandise was purchased and distributed to all of the Watson's stores from the centralized warehouse locatated in Knoxville, which was also home to the corporate office.

The company hit hard times in the late 1980s and eventually filed for Chapter 11 Bankruptcy in February 1992 when they were unable to renew bank financing. At the time of the filing, the company operated 31 stores in nine states. The courts approved a reorganization plan for the company to emerge from Chapter 11 in 6 years. Profitability improved and Watson's emerged from Chapter 11 in about half of the anticipated time. Even after emerging from bankruptcy, the company never fully recovered.

Watson's was purchased in June 1998 by Peebles, a then privately held retailer based in South Hill, Virginia; all Watson's stores were converted to Peebles a year later. The former Watson's Knoxville Distribution Center continues to serve as one of two warehouses for the Peebles chain.

[edit] Watson's Locations

This list is incomplete; you can help by expanding it.

All locations are currently operating as Peebles unless noted otherwise.

[edit] Alabama

  • Cullman

[edit] Indiana

  • Jasper - later Peebles, now closed
  • Madison

[edit] Kansas

  • Olathe

[edit] Kentucky

  • Danville
  • Glasgow
  • Hazard
  • Madisonville - now Big Lots
  • Paintsville
  • Pikeville
  • South Williamson - South Side Mall
  • Somerset
  • Winchester

[edit] Missouri

  • Crystal City

[edit] North Carolina

  • Concord - later Peebles, now closed

[edit] South Carolina

  • Rock Hill - later Peebles, closed February 2005

[edit] Tennessee

  • Elizabethton
  • Knoxville
  • Downtown - closed 1997
  • West - closed early 1998
  • Oak Ridge - later Peebles, now closed
  • Tullahoma

[edit] Virginia

  • Harrisonburg - Valley Mall - later Peebles, closed 2006
  • Martinsville - Patrick Henry Mall
  • Vansant
  • Wise

[edit] West Virginia

  • Fairmont-Middletown Mall, in former Grant's location,closed mid-1980's,replaced by Hess's
  • Logan
  • St. Albans - St. Albans Mall
  • Welch - McDowell Street - closed early 1990s

[edit] External links