MJ Designs

Last updated
MJ Designs
Company typeDefunct as of 2003
Industry Retail
Founded1986
FounderMichael Dupey
Headquarters Coppell, Texas
Key people
Michael Dupey (Chairman)
ProductsRetail Arts & Crafts, Scrapbooking, Home Decor, Custom Framing
RevenueN/A
Number of employees
N/A

MJ Designs was an arts and craft retail store in the Dallas/Fort Worth and Washington, D.C., areas. The company filed Chapter 11 Bankruptcy on December 13, 2002, [1] and went out of business in May 2003.

Contents

Products

MJ Designs sold a variety of arts and crafts products, floral products and arrangements, and supplies for scrap booking, custom framing, pottery, and hobbies.

History

Michael Dupey got his start in 1968 when he worked for City Product Corporation (Ben Franklin Stores). He converted one of these stores into an arts and crafts outlet after his father, James Dupey, purchased it for $72,000 from City Product Corporation. The buyout stated that Michael Dupey had to pay his father back $1.2 million after taxes, with the balance due after 8 years. In that period of time, he changed the name to Michaels Arts & Crafts and paid back his father's loan.

In 1983 his father sold out the contracts to Sam Wyly. James Dupey sold his son's contracts for the stores that were not paid for 100%, along with Michael's cash deposits and his name (Michael's Arts & Crafts). James Dupey told Michael that the store name was registered under Dupey Management Corporation (Michael Dupey's Corporation); however, (it was not) James Dupey had registered it in his corporation, Dupey Enterprises, Inc.

Michael worked with the new owner Sam Wyly. He gave Michael the two Michaels Arts & Craft Stores in the Dallas/Fort Worth area in return for his son Michael to help him build a public company.

Sam operated Michaels from 1983 till 1990 when it became financially difficult. Michael Dupey, who at the time was operating his 24-unit MJ Designs chain, was brought in as a special consultant. The public company was moving forward on all fronts with positive momentum. The Michaels chain comprised 140 stores by the end of 1990, with sales reaching $362 million and debt down from $34 million to $9 million after one year. Michael worked as a consultant for Michael's public company till 1999.

MJ Designs was formerly a part of Michaels, operating as Michael's MJ Designs, before the company split in the mid-1980s. Major disagreements between the father and son caused the company to split.[ clarification needed ] As part of the court ruling, Mike got stores in the DFW area and East Coast to rename MJ Designs. James Dupey held the Austin and Houston areas. The court ruling stated Michaels and MJ Designs must avoid each other's territory for 7 years so both companies could grow without competition.

In 1997, the court ruling expired, and MJ Designs filed for Chapter 11 Bankruptcy in 1999. They closed all their stores in the Northeast region and several in the Dallas/Fort Worth area around this time.

The remaining 9 stores were bought out by Cardnell Investors, who reopened the Dallas/Fort Worth stores. MJ Designs filed for Chapter 11 Bankruptcy again on 13 December 2002 and closed its doors in May 2003. [1] {{{•}}}

Related Research Articles

<span class="mw-page-title-main">RadioShack</span> American electronics store chain

RadioShack is an American electronics retailer which was established in 1921 as an amateur radio mail-order business. Its parent company, Radio Shack Corporation, was purchased by Tandy Corporation in 1962, shifting its focus from radio equipment to hobbyist electronic components. At its peak in 1999, Tandy operated over 8,000 RadioShack stores in the United States, Mexico, and under the Tandy name in The Netherlands, Belgium, Germany, France, the United Kingdom, Australia, and Canada.

<span class="mw-page-title-main">A&P</span> Defunct American grocery store chain

The Great Atlantic & Pacific Tea Company, better known as A&P, was an American chain of grocery stores that operated from 1859 to 2015. From 1915 through 1975, A&P was the largest grocery retailer in the United States.

<span class="mw-page-title-main">Pier 1 Imports</span> US imported goods retailer

Pier 1 Imports, Inc., is an online retailer and former Fort Worth, Texas-based retail chain specializing in imported home furnishings and decor, particularly furniture, table-top items, decorative accessories, and seasonal decor. It was publicly traded on the New York Stock Exchange under ticker PIR. In January 2020, Pier 1 had over 1,000 physical stores throughout the United States and Canada. Pier 1 filed for Chapter 11 bankruptcy protection on February 17, 2020, and on May 19, 2020, announced it was asking the bankruptcy court to close all stores, due in large part to the COVID-19 pandemic.

Ben Franklin is a chain of five and dime and arts and crafts stores found primarily in small towns throughout the United States, currently owned by Promotions Unlimited of Mount Pleasant, Wisconsin. They are organized using a franchise system, with individual stores owned by independent proprietors. It was perhaps the first retail franchise, starting in 1927. They are named after Benjamin Franklin, taking a cue in their merchandise offerings from Franklin's saying, "A penny saved is a penny earned."

Frank's Nursery & Crafts was an American retailer devoted to the sale of lawn and garden products. It operated a chain of stores, with 170 outlets across 14 states. It specialized in products such as shrubs, trees, accent plants, flowers, and lawn furniture, as well as various arts and crafts items.

<span class="mw-page-title-main">Sports Authority</span> Defunct American sporting goods retailer

Sports Authority, Inc. was an American sports retailer based in Englewood, Colorado. At its peak, Sports Authority operated 463 stores in 45 States and Puerto Rico. The company's website was on the GSI Commerce platform and supported the retail stores as well as other multi-channel programs. A joint venture with ÆON Co., Ltd., operates "Sports Authority" stores in Japan under a licensing agreement.

<span class="mw-page-title-main">Schlotzsky's</span> American restaurant franchise chain

Schlotzsky's is an American franchise chain of restaurants, specializing in sandwiches and pizza. The company is headquartered in Atlanta, Georgia. Schlotzsky's has more than 330 franchised and company-owned locations throughout the United States. Most locations are in the south and southwestern United States, but the company is expanding into areas across the country, particularly the north and southeast.

<span class="mw-page-title-main">David's Bridal</span> Bridal retailer

David's Bridal is a clothier in the United States that specializes in wedding dresses, bridesmaid dresses, prom and homecoming dresses, quinceañera dresses, flower girl dresses, other formal wear, and alterations. It is the largest American bridal-store chain and sells 25-30% of all wedding dresses purchased in the United States.

<span class="mw-page-title-main">Southwest Center Mall</span> Shopping mall in Dallas

Southwest Center Mall, formerly Red Bird Mall, is a shopping mall located in Dallas, Texas. Originally owned by the DeBartolo family, it opened in 1975. It was, and remains, the only major one located in the southern half of Dallas. Its original name, Red Bird Mall, came from the Red Bird area of Dallas in which it is located.

<span class="mw-page-title-main">Jo-Ann Stores</span> US arts and crafts retail chain

Jo-Ann Stores, LLC, more commonly known as Jo-Ann, is an American fabric and crafts retail company based in Hudson, Ohio. It operates the retail chains JOANN Fabrics and Crafts and Jo-Ann Etc.

<span class="mw-page-title-main">Vita Craft Corporation</span>

Vita Craft Corporation is a manufacturer of multi-ply stainless steel cookware and other cookware products. The cookware is manufactured and sold in the United States, but the majority of sales are from the Asian and European markets. Japan alone accounts for about 80% of Vita Craft's revenue. In Asia and Europe, Vita Craft is sold in department stores. In the United States, Vita Craft is sold door-to-door, at food-related events and conventions using a direct selling model. Imura International USA Inc. is the parent company of Vita.

<span class="mw-page-title-main">Collin Creek Mall</span> Former shopping mall in Plano, Texas

Collin Creek Mall was a regional shopping mall in Plano, Texas. The two-level, 1.1-million-square-foot (100,000 m2) structure was built in 1981 and was located on the western side of North Central Expressway (US 75) near President George Bush Turnpike. The mall's name was a combination of Collin County and Spring Creek, the latter of which it was built on top of.

<span class="mw-page-title-main">Sam Wyly</span> American businessman

Samuel Evans Wyly is an American businessman. He first appeared on Forbes's list of richest Americans in 2000 with a net worth of $750 million, and he remained on that list throughout 2010 with a net worth of $1 billion. His initial wealth was acquired following the public offering of University Computing Company.

<span class="mw-page-title-main">The Room Store</span>

The Room Store was a chain of furniture retail stores in the eastern and southern United States, which operated from 1992 to 2012. The company, which was owned by RoomStore, Inc., specialized in retailing all the pieces of furniture for an entire room rather than individual pieces of furniture. For example, a table may have been sold with chairs and other dining room accessories in a package rather than a table alone. The Room Store was ranked as one of the top 25 furniture retailers in the United States. A similar chain with the same name operated stores in Arizona from 1993 to 2016.

<span class="mw-page-title-main">Neiman Marcus</span> American department store chain

Neiman Marcus is an American department store chain founded in 1907 in Dallas, Texas by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband Abraham Lincoln Neiman. It has been owned by the Neiman Marcus Group since 1987, and is a sister brand to luxury department store Bergdorf Goodman through this ownership.

<span class="mw-page-title-main">Conn's</span> American furniture, mattress, electronics and appliance store chain

Conn's, Inc. is an American furniture, mattress, electronics and appliance store chain headquartered in The Woodlands, Texas, United States. The chain has stores in Alabama, Arizona, Colorado, Georgia, Louisiana, Mississippi, Nevada, Florida, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, and Virginia. Within Texas, Conn's has stores in Greater Houston, the Dallas/Fort Worth Metroplex, Greater San Antonio, Greater El Paso, Greater Corpus Christi, Southeast Texas, and South Texas.

<span class="mw-page-title-main">Gander Mountain</span> US based outdoors equipment retailer

Gander Mountain, later known as Gander Outdoors and Gander RV, headquartered in St. Paul, Minnesota, was a retail network of stores for hunting, fishing, camping, and other outdoor recreation products and services.

<span class="mw-page-title-main">Lucky's Market</span> Colorado supermarket

Lucky's Market is a brand of supermarkets that are being used by two independent and unrelated regional supermarket chains, LM Acquisition Co. LLC in Colorado and Lucky's Market Ohio in Ohio.

Michaels Stores, Inc., more commonly known as Michaels, is a privately held chain of American and Canadian arts and crafts stores. It is North America's largest provider of arts, crafts, framing, floral and wall décor, and merchandise for makers and do-it-yourself home decorators. The company is part of The Michaels Companies, founded in 2014 and headquartered in Irving, Texas. In addition to Michaels stores, The Michaels Companies operates Aaron Brothers Custom Framing store-within-a-store, and Artistree, a manufacturer of custom and specialty framing merchandise. The company also develops over a dozen private brands sold in Michaels stores, including Recollections, Studio Décor, Bead Landing, Creatology, and Ashland. As of January 2021, there were 1,252 Michaels stores in 49 out of 50 states in the U.S., and Canada, with approximately $5.362 billion in sales for fiscal 2020.

References

  1. 1 2 "MJ Designs files for bankruptcy". Dallas Business Journals. Retrieved 13 December 2002.