P.M. Place Stores

Last updated
P.M. Place Stores
Employee-owned
FateAcquired by ShopKo
Founded1910;110 years ago (1910) in Lathrop, Missouri, United States
FounderPryor M. Place
Defunct2000 (2000)
Headquarters,
Area served
    • Illinois
    • Iowa
    • Kansas
    • Missouri
Website Official website

P.M. Place Stores, also known as Place's Discount Stores was a Bethany, Missouri-based, employee-owned chain of discount stores in the United States. The company primarily operated in towns with a population of 1,500 to 4,000 people in Illinois, Iowa, Kansas, and Missouri.

Contents

Origins

P.M. Place Stores was founded in 1910 by Pryor M. Place in Lathrop, Missouri. Place financed his company by selling his horse, saddle, and bridle, and collected his savings to buy goods to stock his shelves. [1]

Store format

Place's stores carried the same departments as larger discount stores except on a smaller scale. Stores ranged from around 16,000 sq ft (1,500 m2). to 27,000 sq ft (2,500 m2). Their prominent slogan was "The Best of All... Places" which could be heard on a recording that would repeatedly play in their stores amongst music and announcement of the latest sale items.

Expansion

In 1985 the company expanded through the acquisition of Matco/Mattingly stores, a Lexington, Missouri based chain of discount stores.

Place's attempted to grow to 75 stores by the end of 2002 but was bought by ShopKo in 2000 for $22 million with a store count of 49. ShopKo converted these stores into Pamida stores. [2]

At the time of assimilation into Pamida, Place's president and CEO was Charles M. Place. Charles Patterson "Pat" Place had previously been in charge of the company.

In an effort to streamline Pamida's distribution operations, the Bethany cross-dock facility, formerly the Place's warehouse, was closed in early 2002.

See also

Related Research Articles

Sam Walton American businessman

Samuel Moore Walton was an American businessman and entrepreneur best known for founding the retailers Walmart and Sam's Club. Wal-Mart Stores Inc. grew to be the world's largest corporation by revenue as well as the biggest private employer in the world. For a period of time, Walton was the richest man in America.

Kmart U.S. big box retailer and subsidiary of Transform Holdco LLC

Kmart Corporation is an American big box department store chain headquartered in Hoffman Estates, Illinois, United States. The company was incorporated in 1899 as S. S. Kresge Corporation and renamed to Kmart Corporation in 1977. The first store with the Kmart name opened in 1962. At its peak in 1994, Kmart operated 2,486 stores globally, including 2,323 discount stores and Super Kmart Center locations in the United States. From 2005 through 2019, Kmart was a subsidiary of Sears Holdings Corporation and is now a subsidiary of Transform SR Brands LLC.

Pamida Defunct American department store chain

Pamida was a chain of department stores with more than 175 locations in 16 Midwestern and West Central U.S. states. Pamida stores were generally located in smaller communities that range from 3,000 to 8,000 in population. The Pamida name represents the first two letters of the first names of co-founder D.J. (Jim) Witherspoon's three sons: Pat, Mike, and David.

Hypermarket Big-box store combining a supermarket and a department store

A "hypermarket" is a big-box store combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise. In theory, hypermarkets allow customers to satisfy all their routine shopping needs in one trip. The term hypermarket was coined in 1968 by French trade expert Jacques Pictet.

Bloomingdales American department store chain

Bloomingdale's Inc. is an American luxury department store chain; it was founded by Joseph B. and Lyman G. Bloomingdale in 1861. It became a division of the Cincinnati-based "Federated Department Stores" in 1930. In 1994 the Macy's department store chain joined the "Federated Department Stores" holding company. In 2007, "Federated Department Stores" was renamed Macy's, Inc. As of November, 2019, there are 38 stores, including 35 full-line stores and 3 home, clearance and specialty stores with the Bloomingdale's nameplate in operation throughout the United States. There are also 17 outlet stores. Its headquarters and flagship store are located at 59th Street and Lexington Avenue in the New York City borough of Manhattan.

Somerfield was a chain of small to medium-sized supermarkets operating in the United Kingdom. The company also previously owned the Kwik Save chain of discount food stores. The company was taken over by the Co-operative Group on 2 March 2009 in a £1.57 billion deal, creating the UK's fifth-largest food retailer. The Somerfield name was replaced by the Co-operative brand in a rolling programme of store conversions ending in summer 2011.

Waldenbooks, operated by the Walden Book Company, Inc., was an American shopping mall-based bookstore chain and a subsidiary of Borders Group. The chain also ran a video game and software chain under the name Waldensoftware, as well as a children's educational toy chain under Walden Kids. In 2011, the chain was liquidated in bankruptcy.

Shopko former chain of retail stores

Shopko was a chain of retail stores based in Green Bay, Wisconsin. All locations closed on June 23, 2019.

Price Rite Supermarket chain in the northeastern United States

Price Rite is a chain of limited-assortment supermarkets found in Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and Rhode Island. Based in Keasbey, New Jersey, Price Rite is owned by New Jersey-based Wakefern Food Corporation, the cooperative behind ShopRite Supermarkets, Dearborn Market, and The Fresh Grocer. Prior to 2014, Wakefern owned and operated all Price Rite stores.

Sam Goody was a music and entertainment retailer in the United States and United Kingdom, operated by The Musicland Group inc. It was purchased by Best Buy in 2000, sold to Sun Capital in 2003, and filed for bankruptcy in 2006, closing most of its stores. The remaining stores were purchased by Trans World Entertainment which also runs FYE, Saturday Matinee, and Suncoast Motion Picture Company. It specialized in music, video, and video game sales. In 2008 Trans World converted most Sam Goody stores into FYE, though two still operate under the Sam Goody name.

Phar-Mor was a United States chain of discount drug stores, based in Youngstown, Ohio, and founded by Michael "Mickey" Monus and David Shapira in 1982. Some of its stores used the names Pharmhouse and Rx Place. Low prices were advertised to bring in a large volume of sales with the slogans "Phar-Mor power buying gives you Phar-Mor buying power" and "Phar-Mor For Less." Another common slogan in their TV commercials was "Power buying saves: Save at Phar-Mor."

Home Bargains is a chain of discount stores founded in 1976 by Tom Morris in Liverpool as Home and Bargain. It is the trading name of TJ Morris Ltd, stocking up to 4,000 branded product lines, and employs over 22,000 people from head office staff to warehouse and shop staff.

Concord Mall (Delaware) Delawares second largest shopping mall

Concord Mall, a shopping mall located north of the city of Wilmington in the unincorporated Brandywine Hundred area along U.S. Route 202, is Delaware's second-largest shopping mall. A short distance south of the Pennsylvania border, it attracts shoppers from Pennsylvania and other neighboring states wishing to take advantage of tax-free shopping in Delaware. The mall contains over 90 stores and features a fountain surrounded by a garden. It is owned by Namdar Realty Group. The mall anchors are Macy's, Macy's Home, Boscov's, and Sears.

Fisher's Big Wheel was a discount department store chain based in New Castle, Pennsylvania, United States. The company operated stores under the Fisher's Big Wheel and Buy Smart names. At its peak, the chain comprised more than 100 stores in the Northeastern and Midwestern United States. The chain declared bankruptcy in 1993, selling some stores to Pamida and closing others. The chain closed in 1994.

99p Stores former family run business founded in January 2001

99p Stores Ltd. was a family run business founded in January 2001 by entrepreneur Nadir Lalani, who opened the first store in the chain in Holloway, London, with a further three stores opening later that year. In 2002, Lalani decided to expand the business throughout the UK and had rapidly developed 99p Stores, operating a total of 129 stores as of March 2010 and serving around 1.5 million customers each week, undercutting their main rival Poundland by a penny. As of mid-2009 the company offered more than 3,500 different product lines throughout its stores.

SavaCentre

SavaCentre was a chain of 13 hypermarkets and later a further seven discount supermarkets owned and operated jointly by Sainsbury's and BHS, beginning in 1977. Sainsbury's later took full control of the stores alone in 1989, rebranding them as Sainsbury's SavaCentre, until 2005 when the stores were integrated into the Sainsbury's supermarket brand. The hypermarket stores ranged in size from 66,000 sq ft (6,100 m2) to 117,000 sq ft (10,900 m2) and the discount supermarkets ranged in size from 31,000 sq ft (2,900 m2) to 70,000 sq ft (6,500 m2). At the time of its inception, it was the only dedicated hypermarket chain in the UK.

B & M Variety retailers in the United Kingdom

B&M European Retail Value S.A. is a UK variety retailer formed in 1978. It employs over 28,000 staff. It is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index.

Bronx Terminal Market

Bronx Terminal Market, formerly known as Gateway Center at Bronx Terminal Market, is a shopping mall along the Major Deegan Expressway in Concourse, Bronx, New York. The center encompasses just under one million square feet of retail space built on a 17-acre (69,000 m2) site that formerly held a wholesale fruit and vegetable market as well as the former Bronx House of Detention, south of Yankee Stadium.

Interstate Department Stores, Inc., was an American holding company for a chain of small department stores, founded in Delaware in 1928. After a very rapid expansion as the result of acquisition and expansion of two discount store chains acquired in 1959 and 1960 and also two toy store chains acquired in 1967 and 1969, the firm was renamed in 1970 as Interstate Stores, Inc., to better reflect its business. Increased competition and the changes in consumer buying habits eventually led to decreased sales in the late 1960s and early 1970s which forced the firm to file for bankruptcy in 1974. After shedding all of its non-performing units, the firm was able to exit bankruptcy with the entire toy division intact along with a small remnant of the department store division in 1978. The firm was renamed Toys "R" Us upon emergence from bankruptcy.

Stokomani is a French clearance store chain. The retailer, which was founded in 1961, has 86 stores in France. It sells products in five categories: fashion, health and beauty, homeware, toys and seasonal products.

References

  1. About Us, Place's
  2. "ShopKo to buy P.M. Place Stores for $22M". Milwaukee Business Journal. Retrieved December 28, 2019.