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MONTGOMERY WARD: Difference between revisions
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[[Image:mward1.jpg|left|thumb|250px|Photo courtesy: Jim Lang]] MONTGOMERY WARD. See: [[KENNEDY MALL]] | [[Image:mward1.jpg|left|thumb|250px|Photo courtesy: Jim Lang]] MONTGOMERY WARD. See: [[KENNEDY MALL]] | ||
Montgomery Ward was founded by Aaron Montgomery Ward in 1872. Ward had conceived of the idea of a dry goods mail-order business in Chicago, Illinois, after several years of working as a traveling salesman among rural customers. He observed that rural customers often wanted "city" goods but were often victimized by monopolists who offered no guarantee of quality. Ward also believed that by eliminating intermediaries, he could cut costs and make a wide variety of goods available to rural customers, who could purchase goods by mail and pick them up at the nearest train station. | |||
On December 28, 2000, the company, after lower-than-expected sales during the Christmas season, announced it was going out of business and would close its remaining 250 retail outlets and lay off its 37,000 employees. All the stores closed within weeks of the announcement. The subsequent liquidation was at the time the largest retail bankruptcy liquidation in U.S. history. All of Montgomery Ward was liquidated by the end of May 2001. | |||
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Montgomery Ward--Wikipedia | |||
[[Category: Department Store]] | [[Category: Department Store]] | ||
Revision as of 03:14, 24 July 2012
MONTGOMERY WARD. See: KENNEDY MALL
Montgomery Ward was founded by Aaron Montgomery Ward in 1872. Ward had conceived of the idea of a dry goods mail-order business in Chicago, Illinois, after several years of working as a traveling salesman among rural customers. He observed that rural customers often wanted "city" goods but were often victimized by monopolists who offered no guarantee of quality. Ward also believed that by eliminating intermediaries, he could cut costs and make a wide variety of goods available to rural customers, who could purchase goods by mail and pick them up at the nearest train station.
On December 28, 2000, the company, after lower-than-expected sales during the Christmas season, announced it was going out of business and would close its remaining 250 retail outlets and lay off its 37,000 employees. All the stores closed within weeks of the announcement. The subsequent liquidation was at the time the largest retail bankruptcy liquidation in U.S. history. All of Montgomery Ward was liquidated by the end of May 2001.
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Source:
Montgomery Ward--Wikipedia