National Stores

Last updated
National Stores Inc.
TypePrivate
Fallas Discount Stores
Industry Retail
Founded Los Angeles, California, 1962
FounderJoseph Fallas
Defunct2022
HeadquartersHarbor Gateway, Los Angeles, California
Number of locations
88
Area served
 United States, Puerto Rico
Productsbrand name clothing, private label clothing, shoes, household items
OwnerMichael Fallas
Number of employees
≈2,200
Website www.fallasstores.net

National Stores Inc., was a family-owned company headquartered in the Harbor Gateway area of Los Angeles, California with 88 locations in 5 states including Puerto Rico, and employed 2200 people nationwide as of January 2022. [1]

Contents

National Stores Inc. did 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 caters 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 current CEO / 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]

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] 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.

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. [15]

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References

  1. 1 2 RIZZO, LILLIAN (6 August 2018). "Discounter National Stores files for chapter 11". The Wall Street Journal. New York, New York. Retrieved 16 August 2018.
  2. 1 2 "Retail Brand Anna's Linens Intellectual Property To Be Sold" (Press release). GlobeNewsWire.com. 13 August 2015. Retrieved 20 October 2015.
  3. 1 2 Kimco Realty. "Anna's Linens by Fallas". 280MetroCenter.com. Archived from the original on 26 February 2015. Retrieved 20 October 2015.
  4. ↑ "About Our Company." National Stores. Retrieved on February 24, 2010.
  5. ↑ Bailey Brianna (11 February 2014). "Oklahoma City-area businesses cater to Hispanic market". The Oklahoman. Retrieved 4 April 2017.
  6. ↑ Crabtree, Penni (3 September 2004). "S.D. clothing chain shrinking". San Diego Union Tribune. Retrieved 25 December 2014.
  7. ↑ Guzman, Richard (15 April 2011). "Former Home of the Central Library Is Reborn as 88 Apartments". Downtown LA News. Retrieved 25 December 2014.
  8. ↑ Wollam, Allison (19 August 2001). "California retailer picks up Weiner's pieces". Houston Business Journal. Retrieved 25 February 2010.
  9. ↑ "Factory 2-U going out of business". Houston Business Journal. 3 September 2004. Retrieved 24 December 2014.
  10. ↑ Gill, Holly M. (6 September 2004). "Factory 2-U to close". Portland Tribune. Retrieved 24 December 2014.
  11. ↑ Melton, Nicole Marie (10 January 2014). "Report: Conway sold to National Stores Inc., entire buying office staff laid off". FierceRetail.com. Retrieved 4 February 2014.
  12. ↑ DiMartino, Mediha (28 August 2015). "Anna's Linens Postpones Part of Auction". Orange County Business Journal. Retrieved 23 September 2015.
  13. ↑ BIBERMAN, THOR KAMBAN (26 May 2015). "National Stores vacating Otay Mesa building". The Daily Transcript. Perris, California. Retrieved 29 May 2016.
  14. ↑ Hilco Merchant Resources (12 October 2018). "Store Closing Sales Begin Immediately At 184 Select National Stores As Part Of A Recent Chapter 11 Filing". prnewswire. Chicago, Illinois. Retrieved 15 October 2018.
  15. ↑ "Latina Superstar Maite Perroni Partnering With National Stores Inc. To Launch Fashion Collection In The United States". PR Newswire. 5 November 2014. Retrieved 24 December 2014.
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