National Stores

Last updated

National Stores Inc.
Company typePrivate
Fallas Discount Stores
Industry Retail
Founded1962;62 years ago (1962) in Los Angeles, California
FounderJoseph Fallas
Defunct2022;2 years ago (2022)
Fateclosure
HeadquartersHarbor Gateway, Los Angeles, California
Number of locations
88 (at its height in 2020)
Area served
 United States, Puerto Rico
Productsbrand name clothing, private label clothing, shoes, household items
OwnerMichael Fallas
Number of employees
≈2,200
Website Last snapshot of official Fallas website at the Wayback Machine (archived 2022-09-06)

National Stores Inc., was a family-owned company headquartered in the Harbor Gateway area of Los Angeles, California that had as many as 88 locations in 5 states including Puerto Rico, and employed 2200 people nationwide in January 2022.[ citation needed ] As of 2023 National Stores Inc. no longer has any operating stores within the continental U.S. [1] [ failed verification ][ original research? ]

Contents

National Stores Inc. had done business as: Fallas, Fallas Paredes, Fallas Discount Stores, Factory 2-U, Conway, Weiner's, CW Price, Falas (spelled with single "l" in Puerto Rico) and Anna's Linen's by Fallas, [2] [3] and offers brand name and private label clothing for men, ladies, boys, girls, juniors, infants and toddlers along with lingerie, shoes and household items. [4] Fallas Paredes had catered to the Hispanic American community. [5]

History

National Stores was started in 1962 by Joseph Fallas in a single downtown Los Angeles store as Fallas Paredes. [6]

The most recent CEO and owner of National Stores is Joseph's son, Michael Fallas, who started working as a stock boy at age five. [7]

Expansion

National Stores acquired 31 of the 97 Houston-area Weiner's store locations in 2001 when Weiner's began liquidation after filing for bankruptcy for the second time within five years. [8]

National Stores acquired San Diego, California-based Factory 2-U Stores, Inc. when it filed for bankruptcy protection in February 2004 and arranged for the sale of 172 stores to National Stores. [9] In August 2004, Factory 2-U stores liquidated, receiving $28.5 million from the sale to Factory 2-U Liquidation LLC, a consortium headed by National Stores. [10]

National Stores acquired the Conway Stores chain in January 2014. [11]

On August 27, 2015, National Stores performed a store lease takeover auction of 41 Anna's Linens store leases out of a debtor's sale. [12] Some previously Anna's Linens stores in certain locations will be branded "Anna's Linens by Fallas" according to the intellectual property rights acquired by National Stores and will continue the basic Anna's Linen product offering. [2] [3]

Closings

In the second quarter of 2016, National Stores leaves a 600,000-square-foot regional distribution center in Otay Mesa, California and moves to a building development by Sares-Regis (SRG) in Perris, California, signing a $26 million 10-year lease, in an effort to realize a more centralized logistic location. [13]

In August 2018, National Stores filed for chapter 11 bankruptcy protection with plans to close 74 of its 344 stores under a reorganization plan. [1] The liquidation sales expanded to 184 Fallas and Factory 2-U stores starting in October 2018. [14] National Stores began to close more Fallas Paredes stores in early 2022. [15] [16] [17] [18] [19] The COVID epidemic was cited as the cause of some of the closings. [20]

On August 31, 2022, National Stores closed all remaining locations throughout Puerto Rico and the contiguous United States as a result of further restructuring and liquidation of remaining assets.[ citation needed ]

Celebrity Endorsement

In November 2014, National Stores partnered with Latin American actress / musical artist Maite Perroni to introduce her Coleccion Maite Perroni, a contemporary fashion line inspired by her favorite designers reflecting her own personal taste. [21]

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References

  1. 1 2 RIZZO, LILLIAN (August 6, 2018). "Discounter National Stores files for chapter 11". The Wall Street Journal. New York, New York. Retrieved August 16, 2018.
  2. 1 2 "Retail Brand Anna's Linens Intellectual Property To Be Sold" (Press release). GlobeNewsWire.com. August 13, 2015. Retrieved October 20, 2015.
  3. 1 2 Kimco Realty. "Anna's Linens by Fallas". 280MetroCenter.com. Archived from the original on February 26, 2015. Retrieved October 20, 2015.
  4. ↑ "About Our Company." National Stores. Retrieved on February 24, 2010. [ dead link ]
  5. ↑ Bailey Brianna (February 11, 2014). "Oklahoma City-area businesses cater to Hispanic market". The Oklahoman . Retrieved April 4, 2017.
  6. ↑ Crabtree, Penni (September 3, 2004). "S.D. clothing chain shrinking". San Diego Union Tribune . Retrieved December 25, 2014.[ dead link ]
  7. ↑ Guzman, Richard (April 15, 2011). "Former Home of the Central Library Is Reborn as 88 Apartments". Downtown LA News. Retrieved December 25, 2014.
  8. ↑ Wollam, Allison (August 19, 2001). "California retailer picks up Weiner's pieces". Houston Business Journal. Retrieved February 25, 2010.
  9. ↑ "Factory 2-U going out of business". Houston Business Journal. September 3, 2004. Retrieved December 24, 2014.
  10. ↑ Gill, Holly M. (September 6, 2004). "Factory 2-U to close". Portland Tribune. Retrieved December 24, 2014.
  11. ↑ Melton, Nicole Marie (January 10, 2014). "Report: Conway sold to National Stores Inc., entire buying office staff laid off". FierceRetail.com. Retrieved February 4, 2014.
  12. ↑ DiMartino, Mediha (August 28, 2015). "Anna's Linens Postpones Part of Auction". Orange County Business Journal. Retrieved September 23, 2015.
  13. ↑ BIBERMAN, THOR KAMBAN (May 26, 2015). "National Stores vacating Otay Mesa building". The Daily Transcript. Perris, California. Retrieved May 29, 2016.
  14. ↑ Hilco Merchant Resources (October 12, 2018). "Store Closing Sales Begin Immediately At 184 Select National Stores As Part Of A Recent Chapter 11 Filing". prnewswire. Chicago, Illinois. Retrieved October 15, 2018.
  15. ↑ "Fallas Paredes 'abruptly' closes Mall de Las Aguilas store". El Paso Times . January 29, 2020.
  16. ↑ Nelson, Joshua (March 30, 2022). "Fallas Discount Store closing in Santa Maria after 8 years". Santa Maria Times .
  17. ↑ Guy, Jim (June 3, 2022). "This discount clothing store chain is shutting down its three Fresno locations. Here's why". Fresno Bee .
  18. ↑ Jenkins, William (June 15, 2022). "Mission mainstay Falla's to close in July. Will it be reborn?". Mission Local .
  19. ↑ "Fallas Discount store in downtown El Paso closing". KDBC-TV . July 6, 2022.
  20. ↑ Kolenc, Vic (July 31, 2020). "Downtown Fallas store closes due to COVID-19 sales cuts; building renovation still possible". El Paso Times .
  21. ↑ "Latina Superstar Maite Perroni Partnering With National Stores Inc. To Launch Fashion Collection In The United States". National Stores Inc. (Press release). November 5, 2014. Retrieved December 24, 2014– via PR Newswire.
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