Interstate Department Stores
Interstate Department Stores, Inc was originally an American chain of small department stores, but soon became a holding company.
History
Interstate Department Stores was incorporated in Delaware on February 14, 1928, it operated twenty-three department stores in the states of Illinois, Michigan, Indiana, New York, Ohio, Wisconsin, Kentucky, and West Virginia. In October 1929, Interstate acquired the Aurora Dry Goods Company of Aurora, Illinois.
By 1958 Interstate operated 48 stores in fifteen states, selling low- and medium-price merchandise. In April 1959 Interstate acquired the entire stock of White Front Stores, Inc., of Los Angeles.
In the late 1950s, the president Sol Cantor decided to acquire the two-store White Front appliance chain. The plan was to make White Front a discount chain instead. A year later, Interstate bought the Topps Department Stores discount chain for $4 million. By 1963, White Front had 11 stores. Interstate managed the discount chains, opening more stores. In 1967, Interstate acquired Children's Supermart. By 1968, there were 60 Topps, 28 White Fronts, 32 department stores, and eight toy superstores. In the 1970s, sales dropped and Interstate closed several stores. In 1974, Interstate tried to acquire the variety and discount chains owned by McCrory Stores, but failed. Soon, Interstate filed for bankruptcy. Soon, all White Front stores closed, with most being converted to Two Guys. Their only chain left, Toys "R" Us, was decided to become the core business. In 1978, Charles Lazarus (founder of Toys "R" Us) took over, and the company was renamed Toys "R" Us Corporation. The company was acquired by Vornado Realty Trust in 2005, former owner of Two Guys.
Chains
- Interstate Department Stores
- White Front
- Topps Department Stores
- Toys "R" Us