Herberger's | |
Type | Subsidiary |
Industry | Retail |
Founded | 1927 | (original); 2018 (revival)
Founder | G. R. Herberger |
Defunct | 2018 | (original) 2021 (revival)
Headquarters | St. Cloud, Minnesota, United States |
Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, housewares |
Owner | Saks, Inc. (1997–2006) The Bon-Ton (2006–2018) CSC Generation (2018-2021) BrandX (2021–present) |
Parent | BrandX (2021–present) |
Website | herbergers |
G. R. Herberger Inc. is a digitally native retailer. It was established in 1927 in the Midwestern United States as a department store.
Herberger's began in Osakis, 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 downtown St. Cloud, Minnesota. G. R. Herberger's, Inc., by then an employee-owned company, merged with Proffitt's Inc. in 1997 in stock deal valued at approximately $160 million (~$272 million in 2022).
As Proffitt's Inc. evolved into Saks Incorporated with the company's acquisition of Saks 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. as Carson 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, and Younkers) to Bon-Ton Stores in a $1.1 billion deal; the transaction was completed on March 6, 2006. [1]
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]
According to the Fargo INFORUM newspaper, the Herberger's website has returned online with the text "Herberger's is coming back". According to the article, this coincides with the last location being closed as of August 31. 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]
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 in Rochester. [5]
Sometime in 2021, CSC Generations sold Herberger's to BrandX, and indicated that Herberger's would open soon; however, as of 2023 this has yet to materialize. [6]
Saks Fifth Avenue is an American luxury department store chain headquartered in New York City and founded by Andrew Saks. The original store opened in the F Street shopping district of Washington, D.C. in 1867. Saks expanded into Manhattan with its Herald Square store in 1902 and flagship store on Fifth Avenue in 1924. The chain was acquired by Tennessee-based Proffitt's, Inc. in 1998, and Saks, Inc. was acquired by the Canadian-based Hudson's Bay Company (HBC) in 2013.
Parisian Inc. was an American chain of upmarket department stores founded and headquartered in Birmingham, Alabama. Competing mainly through the 1980s against Nordstrom, Neiman Marcus, and Gus Mayer, Parisian underwent a series of restructurings and mergers during its 130-year history, and was taken over by Proffitt’s, Inc. in 1996. In September 2006, Belk purchased Parisian from Saks for $285 million with twenty-four locations later becoming Belk by September 2007. Parisian was quickly sold once more in October 2006 to The Bon-Ton with stores operating in Michigan, Indiana, and Ohio. Parisian operated individually under its own separate division until 2013 when the exclusive rights to operate Parisian had expired, marking the end of this upmarket department store.
Younkers Inc. is an American online retailer and former department store chain founded as a family-run dry goods business in 1856 in Keokuk, Iowa. The retailer had evolved over more than 150 years to include a presence in locations throughout Iowa and bordering states in the Midwest region of the United States. It is pronounced yong-kers. Younkers became influential as it acquired several rivals throughout the 20th century both inside and outside of Iowa. The chain itself was sold by the late 1990s, with ownership transferring out of state, and its Des Moines-based headquarters closed by 2003 as a part of a corporate consolidation. Following its last sale in 2006, Younkers operated as a subsidiary of The Bon-Ton, with locations in seven Midwestern states, primarily in shopping malls. As of 2013 the chain operated more than fifty locations in the region. On August 29, 2018, Younkers closed its doors one last time.
Saks, Inc. was an American holding company founded in 1919. Before acquisition by the Canadian-founded Hudson's Bay Company in 2013, it held ownership of department store chains including New York City-based Saks Fifth Avenue (1998–2013) and Tennessee-based Proffitt's (1919–2005). It acquired several mid-range department store chains in the 1990s, however, refocused on upscale retailing and divested of them in the mid-2000s.
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Carson Pirie Scott & Co. is an American department store that was founded in 1854, which grew to over 50 locations, primarily in the Midwestern United States. Sold to the holding company of Bon-Ton in 2006, but still operated under the Carson name, the entire Bon-Ton collection of stores, including Carson's, went into bankruptcy and closed in 2018. Bon-Ton's intellectual property was quickly sold while in bankruptcy, and the new owners reopened shortly afterwards as a BrandX virtual retailer.
The Boston Store is a digitally native retailer. It was established in 1897 in Milwaukee, Wisconsin as a department store.
Bonton Holdings Inc. operating as Bonton is an American digitally native retailer. It was established in 1898 as a department store. Along with Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's, and Younkers, the retailer is owned by BrandX.
P.A. Bergner & Co. was an upscale Midwestern department store in the United States, that was established in 1889. The chain is now an online retailer operated by BrandX.com, Inc. The flagship store was located in Peoria, Illinois at The Shoppes at Grande Prairie.
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The Elder-Beerman Stores Corp., commonly known as Elder-Beerman, was an American chain of department stores founded in 1883 and whose last stores closed in 2018. The chain, based primarily in the Midwestern United States, was composed of 31 stores in eight states at the time of its liquidation in 2018, and peaked around 2003 with 68 stores and $670 million in annual sales.
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