![]() A former The Broadway department store at the Hawthorne Plaza Shopping Center in Hawthorne, California, in 2010 | |
Formerly |
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Company type | Public |
NYSE: BWY | |
Industry | Retail |
Founded | February 24, 1896The Broadway in Los Angeles | as
Founder | Arthur Letts, Sr. |
Defunct | October 12, 1995 |
Fate | Company was sold to Federated Department Stores |
Successor | Macy's |
Headquarters | , US |
Area served | United States |
Key people | Edward W. Carter, Prentis C. Hale, Philip M. Hawley |
Divisions |
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Broadway Stores, Inc., was an American retailer based in Southern California. Known through its history as Carter Hawley Hale Stores and Broadway Hale Stores over time, it acquired other retail store chains in regions outside its California home base and became in certain retail sectors a regional and national retailer in the 1970s and 1980s. The company was able to survive takeover attempts in 1984 and 1986, and also a Chapter 11 bankruptcy filing in 1991 by selling off most of its assets until August 1995 when its banks refused to advance enough additional credit in order for the company to be able to pay off suppliers. At that point, the company sold itself to Federated Department Stores for $1.6 billion (~$2.92 billion in 2023) with the acquisition being completed on October 12, 1995.