Frederick Loeser & Co.

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Frederick Loeser & Co.

Industry	Retail
Founded	Brooklyn, New York (1860 (1860))
Founder	Frederick Loeser
Defunct	Template:End date and age
Fate	Bankrupt
Number of locations	5 (at peak)
Area served	New York City
Revenue	$25M (1951)
Net income	-$600,000 (1951)
Owner	Frederick Loeser
Number of employees	1,400 (1952)

Frederick Loeser & Co. operated as a prominent department store located in Brooklyn, New York. Its main location at 484 Fulton Street stood as a significant Brooklyn landmark for over six decades before ceasing operations in February 1952.

History

Established in 1860 by German immigrant Frederick Loeser (1833-1911) under the name Loeser and Dinkelspiel, the enterprise initially specialized in embroidery and decorative trimmings. The first store was positioned at 277 Fulton Street, approximately one block away from Brooklyn Borough Hall. The business expanded rapidly through acquisitions of competitors and consolidation of partnerships.

By 1870, the company had inaugurated a larger second location near what is now the junction of Fulton Street and Boerum Place. In March of 1887, operations shifted to a newly constructed five-story building at 484 Fulton Street. This facility featured the latest amenities of the era including electric illumination, telephone connectivity, elevators, restrooms, fitting rooms, and upscale duplex escalators. The retail space occupied the first three floors; administrative offices were housed on the fourth floor. The top level contained restrooms, ladies’ fitting areas, buyers’ sample rooms, and other specialized uses.

In the same year, Scottish-born fabric and lace importer John Gibb joined forces with Frederick Loeser as a partner. Following Loeser's passing in 1903, ownership transferred to the Gibb family. Walter Gibb, John’s son and the last surviving Gibb brother involved with the business, passed away in 1912; subsequently his widow Florence Swan Gibb assumed principal ownership. The company later expanded its presence by opening branches in Bay Shore and Garden City on Long Island.

During the early decades of the twentieth century, the firm supplied china to the immigration station at Ellis Island.

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Example of china provided by Frederick Loeser & Co. for the immigration station at Ellis Island

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Marked "Fred'k Loeser & Co"

Between 1934 and 1936, Lois Wilson worked as both a sales clerk and interior decorator at Loeser's Department Store. Lois Wilson was notably the devoted spouse of William Griffith Wilson (Bill W.), co-founder of Alcoholics Anonymous.

After the death of Walter Gibb’s only daughter Althea Gibb Hunter in 1947, ownership changed hands when a group of investors acquired the company for approximately $8 million (~$Template:Format price adjusted for inflation). This consortium managed operations until February 1952 when persistent financial losses over two years led to closure. Subsequently, neighboring Brooklyn retailer A. I. Namm & Son purchased Frederick Loeser's trademark and goodwill. They continued business under the combined Namm Loeser brand until its final shutdown in 1957 due to customer migration toward suburban shopping centers.