| Type | Private |
|---|---|
| Industry | Other credit granting  |
| Founded | 1928 |
| Founders |
|
| Defunct | July 2008 |
| Headquarters |
Dawnay Day is a privately owned financial services group. Founded in 1928, the London-based group, employs more than 1,000 employees and claims to own gross assets of more than $4-billion. It has offices in Europe, the Middle East, India, the US, and Australia. [1]
Dawnay Day can trace its history to 1928, when it was founded by Major Julian Day and General Guy Dawnay. [2]
French financier Guy Naggar bought Dawnay Day in 1981. [3] Dawnay Day went insolvent in July 2008. [4] [5]
Dawnay Day bought German department store chain Hertie from Karstadt-Quelle (later Arcandor) in partnership with Hilco in 2005.. Dawnay Day held an 85% stake in Hertie, Hilco held 15%. Hertie filed for bankruptcy on May 20, 2009 since Dawnay Day could not support it any further due to its own dire financial situation. The liquidator of Hertie claimed the department store chain got into difficulties due to improperly high rent payments to the real estate owners, however as seen in the case of Arcandor's bankruptcy in June 2009, the whole German department store sector experienced severe difficulties during these times.
Dawnay Day has been criticized and opposed for its purchase of 47 apartment buildings in East Harlem where it has attempted to gentrify the area and make rents unaffordable to current low-income residents. The gentrification of the area and removal of current renters has been opposed by the tenants based Movement for Justice in el Barrio. [6] [7] [8]
Mervyn's was an American middle-scale department store chain based in Hayward, California, and founded by Mervin G. Morris. It carried national brands of clothing, footwear, bedding, furniture, jewelry, beauty products, electronics, and housewares. Many of the company's stores were opened in shopping malls; however, some locations were operated independently. Based on 2005 revenue, Mervyn's was the 83rd largest retailer in the United States.
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property.
Section 8 of the Housing Act of 1937, often called Section 8, as repeatedly amended, authorizes the payment of rental housing assistance to private landlords on behalf of low-income households in the United States. Fort Lauderdale, Florida Housing Authority Director William H. Lindsey, upon the advice of Housing Authority attorney J. Richard Smith, initially developed 11(b) financing in the early 1970s to accommodate a local savings and loan interested in assisting with urban renewal projects Lindsey eventually brought to fruition. This was the initial impetus for the subsequent development of the now well known Section 8 Program. Of the 5.2 million American Households that received rental assistance in 2018, approximately 2.2 million of those households received a Section 8 Housing Choice Voucher. 68% of total rental assistance in the United States goes to seniors, children, and those with disabilities. The U.S. Department of Housing and Urban Development manages Section 8 programs.
Sunrise Records and Entertainment Ltd., doing business as HMV is a UK-based music and film retailer. The first HMV-branded store was opened by the Gramophone Company on Oxford Street in 1921, and the HMV name was also used for television and radio sets manufactured from the 1930s onwards. The retail side of the business began to expand in the 1960s, and in 1998 was divested from EMI, the successor to the Gramophone Company, to form what would become HMV Group.
Peck & Peck was a New York-based retailer of private label women's wear prominently located at 581 Fifth Avenue.
A rent strike is a method of protest commonly employed against large landlords. In a rent strike, a group of tenants come together and agree to refuse to pay their rent en masse until a specific list of demands is met by the landlord. This can be a useful tactic of final resort for use against intransigent landlords, but carries the obvious risk of eviction and bad credit history in some cases.
Arcandor AG was a holding company located in Essen, Germany, that oversaw a number of companies operating in the businesses of mail order and internet shopping, department stores and tourism services. It was formed in 1999 by the merger of Karstadt Warenhaus AG, founded in 1920, with Quelle AG, founded in 1927. In 2005, the corporation had about 68,000 employees and annual sales of €15.5 billion. Its stocks were traded on the Mid Cap DAX until September 2009. The company's largest store was Kaufhaus des Westens (KaDeWe) in Berlin, and the largest store operated by Karstadt was in Frankfurt.
Karstadt Warenhaus GmbH is a German department store chain whose headquarters are in Essen. Until 30 September 2010 the company was a subsidiary of Arcandor AG and was responsible within the group for the business segment of over-the-counter retail.
Stage Stores was a department store company specializing in retailing off-price brand name apparel, accessories, cosmetics, footwear, and housewares throughout the United States. Stores were usually located in shopping malls and centers or in standalone locations. The corporate office was located in Houston, Texas.
Modell's Sporting Goods was an American sporting goods retailer with locations in the Northeastern United States. Modell's carried both sporting goods and related apparel. Modell's had more than 150 retail locations in ten states and the District of Columbia in 2018. The company reported revenue of approximately $765 million in 2015. Sales in 2019 were $538 million, 96%/4% split between retail/online. Its slogan was "Gotta Go To Mo's."
CitiApartments was one of the largest real estate companies in San Francisco, California, which at its peak owned and managed more than 300 buildings directly and through a number of affiliates. In recent years the companies suffered a financial downturn, and have been the subject of intense criticism and litigation for allegedly illegal business practices as a residential landlord.
Levitz Furniture was a nationwide chain of American furniture stores that helped create the "furniture warehouse" genre of retail furniture sales. It was in business for nearly 100 years before liquidating in bankruptcy in early 2008.
Vergo Retail Ltd was a department store business based in Liverpool, England, founded in 2007. Vergo Retail ran 20 shops, consisting of nine department stores, including Lewis's of Liverpool, Robbs of Hexham, Joplings of Sunderland and Derrys of Plymouth and four others in Essex, Suffolk and Norfolk; four Homemaker stores in Devon, four home and fashion stores in Essex and Suffolk; two home stores in Essex; and a jewellery store in Colchester. The company entered administration in 2010.
Linens 'n Things was a Clifton, New Jersey-based big-box retailer specializing in home textiles, housewares, and decorative home accessories. The chain operated 571 stores in 47 U.S. states and six Canadian provinces, and had 7,300 employees as of December 2006. The company's business strategy was "to offer a broad selection of high quality, brand name home furnishings merchandise at exceptional everyday values, provide superior guest service, and maintain low operating costs."
Movement for Justice in El Barrio is a community organization based in East Harlem, New York City that is a reaction to, and organizes against, gentrification in the neighborhood.
Philip Anthony Payton Jr. was an African-American real estate entrepreneur, known as the "Father of Harlem", due to his work renting properties in Harlem, New York City, to African Americans.
Graham Court is a historic apartment building in Harlem, Manhattan, New York City, along Adam Clayton Powell Jr. Boulevard between West 116th and 117th Streets. It was commissioned by William Waldorf Astor, designed by the architects Clinton and Russell, and constructed in 1899-1901 as part of the great Harlem real-estate boom.
HMV Canada Ltd. was a Canadian entertainment retailer, owned by Hilco. The company was originally a subsidiary of HMV in the United Kingdom until it was sold to Hilco Capital in 2011. HMV itself would later be bought by Hilco in 2013. HMV Canada's head office was located in Etobicoke. The retailer ceased operations in Spring 2017.
Hilco Global is an American financial services holding company. It operates over twenty businesses and specializes in asset valuation, advisory, monetization, and disposition services and solutions. Headquartered in Northbrook, Illinois, it has offices throughout the world and provides services to companies, their lenders and professional services advisers across a broad spectrum of business categories including retail, commercial, industrial and financial. Hilco Global delivers services focused on maximizing the value of under-performing and excess retail, consumer products and industrial inventory, real estate, intellectual property, including consumer brands, patents, and accounts receivable. Hilco Global is also considered one of the largest distressed investment and advisory companies in the world.
The Görlitz Department Store in Görlitz in the German state of Saxony is one of the best preserved department stores from the beginning of the 20th century. It is built in the Art Nouveau style and was operated as a department store until August 15, 2009. The city and a citizens' action group tried to revitalize the department store, which in 2012 housed only a beauty shop. In 2013, a private investor was found who wanted to operate the facility as a universal department store much like the Department Store of Upper Lusatia, a counterpart to the Berlin department store Kaufhaus des Westens (KaDeWe).