Gingiss Formalwear

Last updated
Gingiss Formalwear
IndustryMen's formal wear
FateAcquired by The May Department Stores Company
Founded1936
FounderBenjamin J. Gingiss
Defunct2003
Number of locations
13 (1967)
15 (1968)
160 (1980)
230 (1991)
402 (2003)
Subsidiaries Gary's Tux Shop

Gingiss Formalwear, formerly Gingiss Brothers, was a chain of stores specializing in the sale and rental of men's formal wear in the United States, from 1936 to 2003.

History

The chain began as Gingiss Brothers in 1936, headquartered in Chicago, Illinois. [1] By 1967, the chain had grown to a total of 13 stores. [2] By this time, the chain had begun advertising as simply "gingiss" [3] In August 1968, the chain, which at this point had 15 stores in and around Chicago, announced that it planned to have 101 franchised stores operating throughout the country within 19 months. [4] By 1975, the chain had expanded to over a 100 stores and 160 by 1980. [5] [6] The chain had further grown by 1991, with a total of 230 stores nationwide. [7] In 1985, the company was sold by the Gingiss family to Mesirow Financial Services, who later sold it to a group of investors including the Boston-based Beta Partners, Barry Snyder, head of Tuxedo Junction, and Michael J. Corrao, president of Gingiss Formalwear, in 1991. [8] That same year, the company merged with the Buffalo, New York based Tuxedo Junction, which had 32 stores. [8] In 2003, Gingiss Formalwear, with 236 company owned stores and 166 franchised stores, filed for Chapter 11 bankruptcy. [9] In late 2003, The May Department Stores Company purchased 125 company-owned stores. [10] Several franchised stores converted to other brands, including 14 in Atlanta and at least 3 in Wisconsin, to Savvi stores. [11] [12]

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References

  1. ↑ "Did You Say $7?". Chicago Tribune. December 6, 1948. Retrieved March 4, 2020.
  2. ↑ "Chain Promotes F.L. Barry to VP". Roselle Register. June 9, 1967. Retrieved March 4, 2020.
  3. ↑ "gingiss Tuxedos add elegance to your wedding". Roselle Register. April 12, 1968. Retrieved March 4, 2020.
  4. ↑ "GINGISS TELLS PLAN TO OPERATE 101 FRANCHISES". Chicago Tribune. August 14, 1968. Retrieved March 4, 2020.
  5. ↑ "New Gingiss Formalwear Shop Opens In Expanded Mall Area". St. Louis Post-Dispatch. November 13, 1980. Retrieved March 4, 2020.
  6. ↑ "Gingiss Formalwear Centers". Chicago Tribune. October 5, 1975. Retrieved March 4, 2020.
  7. ↑ "Gingiss Formalwear". The Daily Journal. June 29, 1991. Retrieved March 4, 2020.
  8. 1 2 Gruber, William (June 3, 1991). "Gingiss wears well against recession". Chicago Tribune. Retrieved March 4, 2020.
  9. ↑ "May Department Stores makes $23 million bid for Gingiss". San Antonio Business Journal. November 4, 2003. Retrieved March 4, 2020.
  10. ↑ "May to Purchase Gingiss Formalwear". Associated Press. December 29, 2003. Retrieved March 4, 2020.
  11. ↑ Scurry, Lessie (November 18, 2004). "All tied up, someplace to go". The Atlanta Constitution. Retrieved March 4, 2020.
  12. ↑ Balousek, Marv (March 30, 2004). "Gingiss Formalwear stores to switch to Savvi". Wisconsin State Journal. Retrieved March 4, 2020.
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