Pergament Home Centers
| Company type | Private |
|---|---|
| Industry | Retail (Home improvement) |
| Founded | 1935 |
| Founder | Louis Pergament |
| Defunct | 2001 |
| Fate | Filed for bankruptcy and closed all stores |
| Headquarters | Franklin Square, New York , United States |
Area served | New York, New Jersey, Connecticut |
Key people | Robert F. Mancuso (owner post-1989), Michael H. Lurie (president and COO post-1989) |
| Products | Flooring, paint, wallpaper |
Pergament Home Centers was a retail chain specializing in home improvement, operating locations across New York, New Jersey, and Connecticut. It focused primarily on products such as flooring, paint, and wallpaper and was among the pioneers in the region to offer acrylic paint. At its peak, the chain expanded to 42 outlets and generated sales totaling $375 million.
The company ceased operations and filed for bankruptcy in 2001 due to intense rivalry from competitors like The Home Depot and Lowe's.
History
The origins of the business trace back to 1935 when Louis Pergament established the first store in Franklin Square, New York.
In 1989, ownership transitioned from the founding family to Mancuso & Co., led by Robert F. Mancuso, along with Equitable Capital Management. This acquisition, executed through a leveraged buyout, was valued at up to $175 million (equivalent to approximately $Template:Format price in today's dollars). Equitable Capital Management contributed over $11 million toward this purchase. Michael H. Lurie was appointed president and chief operating officer following the change in control.
By 1992, the company underwent restructuring measures that included workforce reductions and store closures. Subsequently, control shifted to Westdeutsche Landesbank, which acted as the primary creditor.
The final Connecticut location was shuttered in 1998.
Ultimately, facing formidable competition from major home improvement retailers such as The Home Depot and Lowe's, Pergament Home Centers declared bankruptcy and closed all remaining stores in 2001.
In 2013, Bob Pergament, son of the founder, published his memoir recounting the history of the chain.