3/2/2024 0 Comments Venture retail![]() City Find out everything you need to know about living in our beautiful city and in our communities.Advertised plans and planning registers.Property If you live in Ballarat or own a property here, we can help you to get organised.Community The City of Ballarat provides many services to help you and your family thrive in our city.Most of the former Venture buildings were absorbed into other chains, primarily Kmart (for their new Big Kmart stores at the time), Others were absorbed by Kohl's, ShopKo, and Burlington Coat Factory. Liquidation of store inventory continued through July 1998. The effort was not successful, and the company announced its closing on April 27, 1998. The company entered chapter 11 bankruptcy on January 20, 1998, and tried to operate with a smaller number of stores. Venture sold the Texas stores to Kmart in 1996 and closed its distribution center in Corsicana, Texas. While facing vast competition, Venture made a fatal mistake trying to expand into Texas instead of protecting its core markets. Venture tried to return to its founding principles as an upscale discounter and remodeled most of its 90+ stores. Bankruptcy Sign for the Venture store in Davenport, Iowa, in 1998īy the late 1990s, the chain found that it was unable to compete against other retail chains, such as Kmart, Target, and Wal-Mart. The Venture corporate headquarters were located in O'Fallon, Missouri. This area sold standard American fare, such as hamburgers and pizza, although one could also get a "hot dog with the ends cut off." The dining area also contained a second area that sold popcorn, pretzels, and Icee drinks. At the time Venture closed, its slogan was "See What A Little Money Can Buy".Īs was a common trend in American department stores, many Venture stores offered a dining area inside the store, typically called Cafe Venture. In the 1990s, Venture employed two other slogans the first, tied to a companywide remodeling initiative aimed at making the stores more like Kohl's, was "See What's New For You!". Venture's advertising slogan during the 1980s was "Save at Venture, Save With Style". ![]() In 1990, Venture separated from May and became a private corporation. It was the largest discount chain in Chicago with inner-city locations other than Zayre/ Ames. ![]() In 1978, Venture Stores purchased 23 Turn Style locations in the Chicago area from Jewel food stores, and expanded to over 40 locations in the Chicago market area, with many city locations. In 1976, Geisse retired and left Venture Stores, which had by that time expanded to 20 units. ![]() The first Venture store opened in Overland, Missouri on January 29, 1970, with a second location in Fairview Heights, Illinois opening on March 24, 1970. When May's Dave Babcock learned that Geisse had resigned from Target Stores, he spoke with Geisse about starting a new discount retailer, resulting in the founding of Venture. Under an antitrust settlement reached with the Department of Justice, May was unable to acquire any more retail chains at the time, and the department-store company needed a way to compete against the emerging discount-store chains. Geisse went to work for May Department Stores. The chain was founded in 1968 when Target founder John F. In January 1998, Venture Stores entered a Chapter 11 bankruptcy and closed within six months. Louis, Chicago, and Kansas City, and expanded across various areas in the United States over a period of nearly 30 years, becoming the largest discount chain in Chicago. Venture Stores expanded to operate over 70 stores with major market share in St. John Geisse, formerly of Target Stores, and May Department Stores' executive vice president, Dave Babcock, founded the chain in 1968. was a chain of retail stores aimed at the discount department-store market.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |