Goldblatt's

Goldblatt's

File:Goldblatt's Discount Store Logo.png
Industry	Retail
Founded	1914
Founder	Maurice Goldblatt Nathan Goldblatt
Defunct	2003 (final liquidation; all stores closed by 2000)
Fate	Liquidation
Headquarters	Chicago, Illinois, U.S.
Products	Clothing, footwear, bedding, furniture, jewelry, beauty products, electronics and housewares

Goldblatt's was a regional discount retail chain based in Chicago, Illinois, with additional outlets in Indiana, Michigan, and Wisconsin. Established in 1914, the company expanded to over twenty locations at its height. Throughout the 1990s, it gradually shuttered some branches and sold others to Ames, ultimately ceasing operations entirely by 2000.

Founding and Growth

Template:Infobox NRHP The enterprise was initiated in 1914 by brothers Nate Goldblatt and Maurice Goldblatt, Polish immigrants who originally operated a grocery and butcher shop on Chicago’s West Side. Their inaugural store opened near Ashland Avenue and Chicago Avenue. By 1922, sales had surpassed $800,000. In 1928, the siblings incorporated as Goldblatt Brothers Inc. During the economic challenges of the Great Depression, the company thrived and acquired several smaller department stores.

In 1936, Goldblatt's launched its flagship location on State Street at Van Buren. This store marked a shift toward higher-end merchandise and included offerings such as small appliances, a deli section, and confectionery items.

File:GOLDBLATT COIN-TOKEN.jpg

Goldblatt Department Stores half-cent coin/token

Financial Difficulties and Bankruptcy

By 1946, Goldblatt's operated fifteen stores generating $62 million in annual revenue. Despite internal disputes between the founders, the business performed well. A single-store expansion into Buffalo, New York in 1941 proved unsuccessful; this location closed on November 27, 1948, after employees attempted to unionize. During the 1950s, growth slowed significantly with profits stagnating and new store openings averaging four annually.

By the mid-1960s, competitors such as Kmart, Woolco, Zayre, and Sears began encroaching on Goldblatt’s market share. The company faced challenges expanding into suburban areas as middle-class consumers showed little interest in shopping there. Ultimately, Goldblatt's filed for bankruptcy in 1981.

In 1982, six stores reopened under renewed management focusing on serving low-income families. The flagship store was initially intended for sale to the City of Chicago under Mayor Jane Byrne for use as a public library, but was later sold to DePaul University after construction of the Harold Washington Library. Without financial support from the city, Goldblatt's might not have survived; businessman Jerrold Wexler played a key role in rescuing the company. By 1985, profitability was restored.

Nevertheless, evolving market conditions, intensifying competition, and aging facilities led to further decline. In 2000, Goldblatt's ceased operations once more. Several former locations were acquired by Ames as it re-entered the Chicago market—having previously taken over many of Zayre’s former stores in the area—all of which eventually closed. That same year saw a brief reopening of the store at 47th and Ashland. Later on, Goldblatt’s regained four additional sites following Ames’ exit from Chicago. The company permanently closed its remaining stores and underwent liquidation in 2003.

Ames

Following the closure of Goldblatt's outlets, discount chain Ames acquired seven of these locations in April 2000 for a total of $7.6 million.

External links

• Encyclopedia of Chicago
• Former Store Implosion at the Wayback Machine (archived February 15, 2013)