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Herberger's

From Wikipedia, the free encyclopedia
American department store chain
For the educational institution, seeHerberger College of the Arts.
G. R. Herberger Inc.
Herberger's
Company typeSubsidiary
IndustryRetail
Founded1927; 99 years ago (1927) inOsakis, Minnesota
FounderG. R. Herberger
DefunctAugust 29, 2018; 7 years ago (2018-08-29) (original company)
FateChapter 7 BankruptcyLiquidation
HeadquartersSt. Cloud,Minnesota, United States
Number of locations
44 (2018)
ProductsClothing, footwear, bedding, furniture, jewelry, beauty products, housewares
ParentProffitt's (1997-1998)
Saks, Inc. (1998-2006)
The Bon-Ton (2006-2018)
CSC Generation (2018-2021)
BrandX.com (2021-Present)
Websiteherbergers.com

G. R. Herberger Inc. was adepartment store chain. It was established in 1927 in theMidwestern United States, and closed in 2018.

History

[edit]
Herberger's previous logo used until January 2004 before adopting the common hexagonal circle logo of Saks/Northern's sister brands.

Herberger's began inOsakis, Minnesota, when G.R. "Bob" Herberger opened his first store in 1927. Herberger's was incorporated for the purpose of acquiring additional stores and expanding into other communities in 1943. By 1972, it grew to 11 stores in four states, with its headquarters in downtownSt. Cloud, Minnesota. G. R. Herberger's, Inc., by then an employee-owned company, merged withProffitt's Inc. in 1997 in stock deal valued at approximately $160 million (~$290 million in 2024).

As Proffitt's Inc. evolved intoSaks Incorporated with the company's acquisition ofSaks Fifth Avenue, Herberger's eventually became part of the corporation's Northern Department Store Group, an assortment of store locations initially acquired by Proffitt's Inc. asCarson Pirie Scott & Company. On October 31, 2005, Saks announced that it was selling Herberger's and its other Northern Department Store Group stores (Carson Pirie Scott,Bergner's,Boston Store, andYounkers) toBon-Ton Stores in a $1.1 billion deal; the transaction was completed on March 6, 2006.[1]

An open Herberger's inRapid City, South Dakota and its going out of business sale a few months later.

Bon-Ton announced on April 17, 2018, that they would be closing doors and began liquidating all 267 stores after two liquidators, Great American Group and Tiger Capital Group, won an auction for the company. The bid was estimated to be worth $775.5 million. This included all remaining Herberger's locations after 91 years of operation. According to national retail reporter Mitch Nolen, stores were closed within 10 to 12 weeks.[2][3]

TheFargo Forum reported in 2018 that the Herberger's website had returned online with the text "Herberger's is coming back", coinciding with the last location closing on August 31, 2018. The article did not disclose the financing or ownership of the brand or if the retirement liabilities of former employees remains lost after the transfer of assets.[4]

A Herberger's location inRoseville, Minnesota with the old logo.

Herberger's was relaunched when CSC Generations purchased Bon Ton, Inc. and their associated brands and customer lists. On October 1, 2018, it was revealed that multiple Herberger's locations would potentially open or reopen around Minnesota, with the first store likely being inRochester.[5]

Sometime in 2021, CSC Generations sold Herberger's to BrandX, and indicated that Herberger's would open soon;[citation needed] however, as of 2025 this has yet to materialize.[6]

References

[edit]
  1. ^"Investor Relations". Archived fromthe original on 2007-03-11. Retrieved2006-03-08.
  2. ^"Bon-Ton Stores to close (report)".syracuse.com. Retrieved2018-04-17.
  3. ^"Liquidators to wind down US department store chain Bon-Ton".CNBC. Retrieved2018-04-18.
  4. ^"Back in business? Herberger's announces comeback days after closing all stores nationwide".inforum.com. Archived fromthe original on 2018-08-31. Retrieved2018-08-31.
  5. ^"Buyer of Herberger's and other Bon-Ton brands lays out revival plan".Star Tribune. Retrieved2018-10-01.
  6. ^"Herbergers Website".

External links

[edit]
Department stores in the United States
Current
Defunct
Online only
Retrieved from "https://en.wikipedia.org/w/index.php?title=Herberger%27s&oldid=1336795496"
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