K's Merchandise Mart

K's Merchandise Mart, Inc.

Company type	Private
Industry	Retail
Founded	1957 (1957)
Founder	Raymond "Ray" Eldridge Sr. and Kay Eldridge
Defunct	2007 (2007)
Fate	Liquidation
Headquarters	Decatur , United States
Area served	Illinois, Indiana, Iowa, Missouri, Kentucky
Key people	Bill Weinstein (final president)
Products	Furniture, jewelry, electronics, general merchandise

Overview

K's Merchandise Mart, Inc.—commonly referred to as K's Merchandise—was a catalog showroom retailer headquartered in Decatur, Illinois. This department store chain specialized in furniture, jewelry, electronics, and various general merchandise. At the time it ceased operations, K's maintained 17 outlets across five Midwestern states.

History and Operations

Established in 1957 by brothers Raymond "Ray" Eldridge Sr. and Kay Eldridge, K's Merchandise expanded its footprint throughout Illinois, Indiana, Iowa, Missouri, and Kentucky. Despite its growth, the company faced prolonged sales declines during the early 2000s due to intensifying competition from large-format retailers. Ownership transitioned from the founding family to Boston-based Gordon Brothers Group, which installed Bill Weinstein as the final president in an effort to revitalize the business. Nevertheless, on October 3, 2006, K's announced plans for liquidation to satisfy outstanding debts.

Subsidiary Chains

In addition to its primary stores, K's Merchandise operated a smaller chain called Bargains Only with four locations in Mt Zion, Champaign, Springfield, and Peoria, Illinois. These outlets offered a merchandise mix similar to that of discount retailers like TJ Maxx, including apparel, home goods, and furniture. The Bargains Only stores shuttered ahead of their parent company’s closure, with the final location ceasing operations in October 2006 in Mt. Zion.