Younkers
| File:Younkers Logo.png | |
| Company type | Subsidiary |
|---|---|
| Industry | Retail |
| Founded | 1856 in Keokuk, Iowa, U.S. |
| Founders | Marcus Younker Lipman Younker Samuel Younker |
| Fate | Subsidized into online retail by BrandX.com |
| Headquarters | Des Moines, Iowa, U.S. (until 2003) Milwaukee, Wisconsin (2003-2021) New York City, U.S. (2021 onwards) |
Number of locations | 49 Until the parent company's liquidation in 2018 |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, housewares |
| Parent |
BrandX.com (2021-present) |
| Website | younkers |
Younkers Inc. () is a U.S.-based online retailer and was formerly a department store chain established in 1856 in Keokuk, Iowa. Over more than a century and a half, the company expanded its footprint across Iowa and neighboring Midwestern states by acquiring competitors to broaden its market presence. In the late 1990s, ownership shifted beyond state lines, culminating in the closure of its Des Moines headquarters by 2003 amid corporate restructuring.
Following its acquisition by The Bon-Ton in 2006, Younkers functioned as a subsidiary with upwards of 50 stores located mainly within shopping malls across seven Midwestern states. The brand discontinued operations on August 29, 2018.[1]
Origins
The enterprise was initiated in 1856 by Polish Jewish immigrant siblings Lipman, Samuel, and Marcus Younker as a general merchandise outlet in Keokuk, Iowa. In 1874, Herman Younker, their younger half-brother, launched a dry goods store in Des Moines. After Samuel passed away in 1879, the original Keokuk location ceased operations and Des Moines became the focal point of the business.
In 1899, the flagship moved to downtown Des Moines at the intersection of 7th and Walnut Streets where it remained for 106 years until closing in August 2005. This site was notable for its Tea Room restaurant established in 1913 and for featuring Iowa’s first escalator installed in 1939, serving as a cornerstone of the company’s retail identity.
Growth as Younkers Incorporated
With continued expansion and mergers, the firm adopted the name Younkers Incorporated. Beginning in 1912 with acquisition of a downtown Des Moines department store, it further expanded during the 1920s throughout Iowa by purchasing Wilkins Department Stores (1923), Harris-Emery (1927), and J. Mandelbaum and Sons (1928). Additional acquisitions included Brintnall's of Marshalltown and Davidson's of Sioux City in 1948, followed by Yetters of Iowa City in 1949. The company extended beyond Iowa during the 1950s by opening its inaugural shopping mall location in Omaha, Nebraska in 1955 and later acquiring Omaha’s Kilpatrick's in 1961. By 1978, Younkers operated a total of 28 stores spanning five states, reflecting considerable growth and enhanced market penetration.
Fire Incidents
In November 1978, a fire at the Younkers store located within Merle Hay Mall in Des Moines caused eleven deaths. This tragedy stands as the deadliest fire recorded in Des Moines history and ranks third among department store fires nationwide. The cause was identified as faulty electrical wiring and resulted in destruction of the initial mall store.
On March 29, 2014, during renovation work on the former Younker Brothers Department Store building downtown Des Moines suffered major fire damage. The original eastern section built in 1899 partially collapsed and was subsequently demolished; however, the adjacent Wilkins Department Store building from 1909 survived and remained under renovation as of 2016. These fires significantly affected Younkers’ historic properties while underscoring challenges associated with maintaining legacy real estate within its corporate framework.
Acquisitions of Brandeis and H.C. Prange
Between 1979 and 1992, Younkers was managed by Equitable of Iowa insurance after having been publicly traded since 1948. In 1987, it broadened its footprint by acquiring the Omaha-based Brandeis department store chain, which operated 11 locations. After reentering the public market on NASDAQ in April 1992, Younkers continued its expansion by purchasing the H.C. Prange chain, consisting of 22 stores across Wisconsin and Michigan.
Acquisition by Proffitt's
Following a rejected hostile takeover attempt from Carson Pirie Scott in 1995, Younkers consented to a friendly merger with Knoxville, Tennessee’s Proffitt's, Inc., a deal completed in December 1996. Proffitt's then acquired Carson Pirie Scott and Saks Fifth Avenue in 1998, creating Saks Incorporated. By 2003, Saks streamlined its operations by shutting down Younkers' headquarters in Des Moines and integrating it with Carson Pirie Scott’s Milwaukee base.
Sale to The Bon-Ton
In a transaction valued at $1.1 billion finalized on March 6, 2006, Saks divested Younkers along with other Northern Department Store Group brands such as Carson Pirie Scott, Bergner's, Boston Store, and Herberger's to Bon-Ton Stores. On January 31, 2018, Bon-Ton declared plans to close 42 locations nationwide, including nine in Wisconsin. By April 17, 2018, after being acquired by Great American Group and Tiger Capital Group for approximately $775.5 million, Bon-Ton commenced liquidation of all its 267 stores. This process included the final closure of all Younkers outlets after a legacy spanning 162 years, with store shutdowns occurring over a period of 10 to 12 weeks. Younkers officially ceased operations on August 29, 2018.
Sale to BrandX.com, Inc
On September 10, 2018, CSG Generation from Merrillville, Indiana obtained all trademarks and intellectual property rights of The Bon-Ton (based in York, Pennsylvania). Subsequently, in early 2021, these assets were privately sold by CSC Generation to BrandX.com, headquartered in New York.
In May 2022, BrandX.com revealed intentions to relaunch Younkers as a physical retail store in 2023. Although the brick-and-mortar reopening did not come to fruition, Younkers was revived as an online-only retailer, marking a strategic pivot toward e-commerce operations.
- ↑ Younkers: The last day