Reynolds Brothers

Last updated
Reynolds Brothers, Inc.
Type Private
Industry Retail
Founded1899;124 years ago (1899)
FounderGeorge F. Reynolds
Headquarters Lakewood, New Jersey, U.S.
Number of locations
30 (peak)
Area served
New Jersey
ProductsClothing and accessories
Number of employees
~400 (peak)

Reynolds Brothers, also known as Reynolds, is a department store chain in New Jersey. It was founded in 1899 and operated a single location for over 60 years before starting expansion into a regional New Jersey chain of family apparel and accessory stores. The store was founded by George F. Reynolds and was later run by his son and grandson. An off-price brand of women's clothing stores, the Rafters brand, was added in the late 1970s. The company had grown to 22 stores in 1996 when it was sold to a private investor group. It peaked at about 30 stores a few years later before having financial difficulties. It downsized through bankruptcy reorganization in 2004 and reemerged with just three stores.

Contents

Founding

The store was founded in 1899 by George F. Reynolds and Walter Hansen and was originally called Reynolds & Hansen. The first store was in Asbury Park, New Jersey. [1] Reynolds bought out Hansen [lower-alpha 1] and brought in his brother John as a new partner. After changing the name to Reynolds Bros., Reynolds bought out his brother but kept the same name. [2] It started as a dry goods and home furnishings' retailer before evolving into a department/clothing store and later only men's, women's and children's fashions. [3] Reynolds instituted a policy of "always being honest with the customer". [4]

The store relocated to Perth Amboy where it operated as the only location for many decades. The store received electric lighting in 1909. [5] After a 1930 remodeling, it was reported to be "one of the most modern in New Jersey". [6] The store was reopened after suffering extensive smoke and water damage from a fire that destroyed several adjoining buildings in January 1951. [7]

The company incorporated in 1923, with its longest-term employees becoming board members. Other employees with five years of service received five shares of company stock worth $500, and those with more than ten years received ten shares. [8]

Reynolds leadership

Founder George F. Reynolds became company chairman upon incorporation and retained the position until his 100th birthday in April 1965. The birthday and retirement [9] was celebrated with an open house at the Perth Amboy store which Reynolds attended. [10] Reynolds died on January 16, 1967, at age 101. [9]

Reynold's son, Charles H. Reynolds, a graduate of Georgetown University, [11] joined the company in 1926. In 1955, he was secretary-treasurer of the corporation and later took over from his father. He died in 1987. [12]

Charles H. Reynolds Jr., the founder's grandson joined the firm in 1954 [3] and was the executive vice-president and general merchandising manager in 1964. He was a graduate of Cornell University and the Harvard Business School and was named president in 1970. [13] He became chairman after the retirement of his father [4] in 1978. [1]

Expansion

The company opened a second branch location in Toms River in 1964 in the Toms River Shopping Center. Charles H. Reynolds was president at this time. The store was reported to be "completely air-conditioned". George F. was 99 years old and still chairman of the board. [4]

The Perth Amboy store was closed in 1966, after about 60 years of operation. As the largest clothing store in the city, it was "regarded as an institution" but suffered from a declining downtown. [14] The executive staff relocated to the Toms River store. [15] Later that year, a new store was opened in Somerville [14] at the Somerset Shopping Center. This store was air-conditioned with 18,000 sq ft (1,700 m2) of retail space. The store was divided into various specialty shops, a new retailing trend. [16]

Charles H. Reynolds Jr. continued the expansion after becoming president in 1970. He added a third store in Hackettstown to the existing Toms River and Somerville locations. [13]

A fourth location, the 13,500 sq ft (1,250 m2) Woodbridge store, opened in November 1972. [13] The store was near the original Perth Amboy location, about 5 miles (8.0 km) away. It was the first store in the chain to display merchandise with etageres. [17] The store had 40 feet (12 m) of glass window displays in the front facade. The store was opened at a ceremony when a ribbon was cut by a 12-year-old great-grandson of the founder. [18]

In 1975, the company was awarded a $300,000 loan by the New Jersey Economic Development Authority for the construction of a warehouse and distribution building in Toms River. The project was expected to create 22 new jobs. [19] [lower-alpha 2]

The next opening was the Manahawkin in December 1975. The $1 million store contained 13,000 sq ft (1,200 m2) of retail space. [20] [lower-alpha 3]

In 1978, with Charles Reynolds, Jr. as chairman, the store had four locations in Toms River, Somerville, Manahawkin, and Hackettstown and employed 100 people in the stores and its headquarters. It was planning to add two new stores each year for five years throughout Monmouth and Ocean Counties under the leadership of Joseph B. Siegel, the new company president who had been recruited from Roos/Atkins in San Francisco. The stores, around 15,000 sq ft (1,400 m2), sold men's, women's, and children's clothing and accessories and the company was expanding primarily into shopping mall locations with better parking than downtown stores. [1]

A fifth store was added in early 1985 in Rio Grande. [21] The other open locations at the time were Toms River, Somerville, Hackettstown, and Manahawkin. [14] The Somerville store was extensively renovated in 1986, changing from traditional to contemporary. [22] A sixth store opened in Wall Township in September 1987. [23] Plans were to open a new store about every other year. [2] A new store in Franklin Park opened in 1990. [24]

Rafters subsidiary

The company established the off-price chain Rafters in 1978 which sold merchandise at a minimum 20% reduction to prices in the full-price stores. It did this by keeping costs down with simpler stores and displays and operating with a smaller profit margin. By 1985, there were eight Rafters locations in New Jersey and one outside Philadelphia, Pennsylvania. [21] In 1986 there were 15 total locations including Reynolds and Rafters. [25] In 1987, the company said it planned to open about three more Rafters locations yearly. [2]

In 1993, the Somerville store was converted to a 12,000 sq ft (1,100 m2) Rafters store. The Somerville Reynolds store was suffering from competition from stores at the Bridgewater Commons mall. This location was the 18th and the largest store in the Rafters chain. [26]

Sale and decline

The business was sold outside of the Reynolds family in 1996. President Charles H. Reynolds Jr. had four children but none were interested in joining the family business. [2] [3] The buyer was an investment group led by William Goldman, owner of Edison, New Jersey-based Excelled Sheepskin and Leather Coat Corp. [3] The eight Reynolds locations, all in New Jersey, and 14 Rafters stores including 12 in New Jersey and two in Maryland were to continue to operate independently of the new owner. [3] In 1996, at time of sale, the entire Reynolds company had 340 employees spread across its stores and 60 more in the headquarters and distribution center in Lakewood. [3]

Sales dropped significantly in the late 1990s when the chain peaked at about 30 stores. It filed for reorganization under Chapter 11 bankruptcy in 2004. The company closed stores, eliminated its trucking operations, and reduced staff. It exited bankruptcy in September 2004 as an operator of three stores with 70 employees, down from 150. The distribution warehouse was closed in favor of a system that shipped product directly from manufacturers to the stores. [27]

Other

For many years, the employee annual outstanding achievement award was named the "Betty Award" in honor of Elizabeth "Betty" Reynolds, the wife of thirty-year company president Charles H. Reynolds Sr., son of the chain's founder. [28] [12] Betty Reynolds died in 2000 at age 97. [12]

Notes

  1. ↑ Hansen later partnered in the company Sharp & Hansen.
  2. ↑ The distribution center was actually in Lakewood at 1000 Airport Road and also became the company headquarters.
  3. ↑ This store was also reported to be the fourth location. The Woodbridge store was not listed as a location in 1978 and may have closed within a few years of opening.

Related Research Articles

<span class="mw-page-title-main">Perth Amboy, New Jersey</span> City in Middlesex County, New Jersey, U.S.

Perth Amboy is a city in Middlesex County, in the U.S. state of New Jersey. Perth Amboy is part of the New York metropolitan area. As of the 2020 United States census, the city's population was 55,436, an increase of 4,622 (+9.1%) from the 2010 census count of 50,814, which in turn reflected an increase of 3,511 (+7.4%) from the 47,303 counted in the 2000 census. Perth Amboy has a Hispanic majority population. In the 2010 census, the Hispanic population made up 78.1% of the population, the second-highest in the state, behind Union City at 84.7%. Perth Amboy is known as the "City by the Bay", referring to its location adjoining Raritan Bay. The Census Bureau's Population Estimates Program calculated that the city's population was 55,291 in 2021, ranking the city as the 719th-most-populous in the country.

<span class="mw-page-title-main">Raritan River</span> Major river in the U.S. state of New Jersey

Raritan River is a major river of New Jersey. Its watershed drains much of the mountainous area of the central part of the state, emptying into the Raritan Bay on the Atlantic Ocean.

<span class="mw-page-title-main">Central Jersey</span> Place in New Jersey, United States

Central Jersey is the central region of the U.S. state of New Jersey. The designation of Central New Jersey is a distinct administrative toponym.

<span class="mw-page-title-main">Central Railroad of New Jersey</span> Defunct Class I railroad in the U.S. state of New Jersey (1839-1976)

The Central Railroad of New Jersey, also known as the New Jersey Central or Jersey Central Lines, was a Class I railroad with origins in the 1830s. It was absorbed into Conrail in April 1976 along with several other prominent bankrupt railroads of the Northeastern United States.

<span class="mw-page-title-main">North Jersey Coast Line</span> Commuter rail line in New Jersey

The North Jersey Coast Line is a commuter rail line running from Rahway to Bay Head, New Jersey, traversing through the Jersey Shore region. Operated by New Jersey Transit, the line is electrified as far south as Long Branch. On rail system maps it is colored light blue, and its symbol is a sailboat. The line runs along the former New York & Long Branch Railroad, which was co-owned by the Central Railroad of New Jersey and the Pennsylvania Railroad.

<span class="mw-page-title-main">ShopRite (United States)</span> Supermarket chain owned by Wakefern Corporation

ShopRite is a retailers' cooperative of supermarkets with stores in six states: Connecticut, Delaware, Maryland, New Jersey, New York and Pennsylvania.

<span class="mw-page-title-main">Rahway station</span> Railroad station in Rahway, New Jersey

Rahway station is an NJ Transit train station in Rahway, New Jersey that is located 20.7 miles southwest of New York Penn Station, with service on the Northeast Corridor and North Jersey Coast lines.

<span class="mw-page-title-main">Freehold Raceway Mall</span> Shopping mall in Freehold Township, New Jersey

Freehold Raceway Mall is a super-regional high-end shopping mall, located in Freehold Township, New Jersey. A premier shopping center for Central Jersey, the mall is located off of U.S. Route 9, Route 33, and County Route 537, opposite the Freehold Raceway. The mall is anchored by the traditional retailers Macy's, JCPenney, L.L. Bean and Primark, while also featuring the premier specialty retailers Abercrombie & Fitch, Offline by Aerie, Untuckit, Zara, Lululemon Athletica, and Michael Kors.

<span class="mw-page-title-main">Bridgewater Commons</span> Shopping mall in Somerset County, New Jersey, United States

Bridgewater Commons is a fully enclosed shopping mall located in Bridgewater Township, New Jersey. The mall is located at the intersection of Route 22 and Route 202/206 and borders I-287. The mall opened on February 26, 1988 and has a gross leasable area of 900,000 sq ft (84,000 m2).

The Central New Jersey Home News Tribune is a Daily newspaper serving Middlesex County, New Jersey. The paper has an average daily weekday circulation of about 49,000. The newspaper is the result of the 1995 merger of The Home News of East Brunswick and The News Tribune of Woodbridge Township. The News Tribune was previously known as "The Perth Amboy Evening News." The combined paper, initially renamed the Home News & Tribune before the ampersand was removed, was sold to Gannett in 1997.

The Freehold and Jamesburg Agricultural Railroad was a short-line railroad in New Jersey. The railroad traversed through the Raritan Valley communities of Freehold Borough, Freehold Township, Manalapan Township, Englishtown Borough, Monroe Township, and Jamesburg Borough, en route to Monmouth Junction in South Brunswick Township. Its former right-of-way, along with a portion of the Farmingdale and Squan Village Railroad's right-of-way, has become the Edgar Felix Bikeway and the Freehold right-of-way between Route 537 and Big Brook Park in Marlboro Township has become the Henry Hudson Trail. The section of right of way from Route 537 parallel to Jackson Street and behind the former Karagheusian Rug Mill to the former Central Railroad of New Jersey depot on Jackson Street at Mechanic Street in Freehold Borough has not as of yet been improved to be part of the trail. It is not clear whether this part of the right of way is still owned by New Jersey Transit which owns the rest of the line north into Matawan. The latter has been ‘railbanked’ which means it can be reactivated

<span class="mw-page-title-main">Willowbrook Mall (New Jersey)</span> Shopping mall in New Jersey, United States

Willowbrook Mall is a one-level shopping center with a partial second floor located in Wayne, New Jersey, United States. It is near the intersection of New Jersey Route 23, U.S. Route 46, and Interstate 80 in the New York metropolitan area and is situated close to both Essex and Morris counties near the Passaic River.

Steinbach was a department store chain based in Asbury Park, New Jersey with locations throughout the United States northeast. It opened in 1870 and was purchased by Supermarkets General Corporation (SGC) in the 1960s, and was shuttered in early 1999.

Herman’s World of Sporting Goods was a sporting goods retailer in the United States. It was founded by Herman Steinlauf in 1916 as a music store. Founded in 1916 by Herman and Eddie Steinlauf as a music store in lower Manhattan. The first store was at 110 Nassau Street, in Lower Manhattan. Later, the chain expanded to East 42nd Street and East 34th Street, then to Paramus, New Jersey. The chain kept growing as time went on, in the New York metropolitan area and later other areas. Herman's later became a sporting goods outlet and was sold as a four-store group in 1970 to W. R. Grace and Company Eddie Steinlauf's son Leonard expanded into a fourth store in Paramus, creating the first sporting goods superstore. This drew the attention of conglomerate W.R. Grace, who made a play for the company. Leonard Steinlauf fought the sale, citing his vision of creating a national chain of sporting goods superstores. He believed that Herman's should stay a family company. Herman Steinlauf and Leonard Steinlauf's sister pressured Leonard into selling his 25% of the company, a decision he would later regret. Leonard Steinlauf became Herman's CEO but lasted less than ten years under a strained relationship with W.R. Grace.

The 2005 Princeton Tigers football team was an American football team that represented Princeton University during the 2005 NCAA Division I-AA football season. Princeton tied for second in the Ivy League.

The 2003 Princeton Tigers football team was an American football team that represented Princeton University during the 2003 NCAA Division I-AA football season. Princeton finished second-to-last in the Ivy League.

Stephenville is an unincorporated community and residential neighborhood located within Edison Township in Middlesex County, New Jersey, United States. The community is centered around Park Avenue, which borders the south and west ends of the community, Stephenville Parkway, a median strip-street which runs east–west in the center of the community, and Plainfield Road, which borders the east end of the community. An eastern addition to Stephenville was planned in the early 1950s, east of Plainfield Road, but after years of political, residential and township issues, it was ultimately abandoned and portions were sectioned off into different communities during the late 1950s and early 1960s. Stephenville is located between Sutton Hollow to the north, the Oak Tree-Stephenville Park to the northeast, Hampshire Gardens, Carriage Hill and Arrowhead Park to the east, Woodbrook Corners to the south, and Park Gate and New Petrograd to the west.

The Perth Amboy Pacers were a minor league baseball team based in Perth Amboy, New Jersey. In 1914, the Pacers played as members of the Class D level Atlantic League, placing 5th in the standings in their only season of play.

References

  1. 1 2 3 Kling, Jack (Feb 5, 1978). "President of Reynolds Brothers Believes Now Is the Time for Expansion of Chain". Asbury Park Press. Asburh Park, New Jersey. p. 35. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  2. 1 2 3 4 "Reynolds Bros. success tied to growth, service". Asbury Park Press. Asbury Park, New Jersey. Mar 23, 1987. p. 22. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  3. 1 2 3 4 5 6 "Retail dynasty's reign ends". The Central New Jersey Home News. New Brunswick, New Jersey. Aug 16, 1996. p. 33. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  4. 1 2 3 "Reynolds Brothers Fashion Center Sets Opening Today in Toms Rivers". Asbury Park Press. Asbury Park, New Jersey. Aug 13, 1964. p. 10. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  5. ↑ "Citizen's Company Now Lighting Many Stores". Perth Amboy Evening News. Dec 18, 1906. p. 3. Retrieved August 21, 2020– via newspapers.com. Lock-green.svg
  6. ↑ "Reynold's New Store Opens Friday, Nov. 14". Matawan Journal. Nov 14, 1930. p. 2. Retrieved August 21, 2020– via newspapers.com. Lock-green.svg
  7. ↑ "Four Stores Wrecked in Perth Amboy Fire". The Central New Jersey Home News. New Brunswick, New Jersey. Jan 8, 1951. p. 1. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  8. ↑ "Reynolds Employees Are Made Partners in Perth Amboy Business". The Central New Jersey Home News. New Brunswick, New Jersey. Jul 6, 1923. p. 5. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  9. 1 2 "George F. Reynolds, 101; Department Store Owner". The Courier-News. Bridgewater, New Jersey. Jan 17, 1967. p. 3. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  10. ↑ "To Note Birthday". The Courier-News. Bridgewater, New Jersey. Apr 8, 1965. p. 11. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  11. ↑ "Bank Names Area Men". The Courier-News. Bridgewater, New Jersey. Jan 27, 1955. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  12. 1 2 3 "Obituaries". The Ocean Star. Point Pleasant Beach, New Jersey. Dec 1, 2000. p. 24. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  13. 1 2 3 "Reynolds to open in Woodbridge". The Courier-News. Bridgewater, New Jersey. Nov 14, 1972. p. 32. Retrieved July 18, 2020.
  14. 1 2 3 "Reynolds' stores moved south, up". Asbury Park Press. Asbury Park, New Jersey. Dec 23, 1984. p. 22. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  15. ↑ "Reynolds Plans Somerset Store". The Central New Jersey Home News. New Brunswick, New Jersey. Feb 16, 1966. p. 11. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  16. ↑ "New Reynolds Store Opening". The Central New Jersey Home News. New Brunswick, New Jersey. Oct 26, 1966. p. 29. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  17. ↑ "Woodbridge Shopping Center home of new Reynolds store". The Central New Jersey Home News. New Brunswick, New Jersey. Nov 17, 1972. p. 7. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  18. ↑ "A New Reynolds". The Daily Register. Red Bank, New Jersey. Nov 17, 1972. p. 15. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  19. ↑ "Loan Aids Project in Ocean". Asbury Park Press. Asbury Park, New Jersey. June 19, 1975. p. 4. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  20. ↑ "Clothes". Asbury Park Press. Asbury Park, New Jersey. Dec 28, 1975. p. 56. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  21. 1 2 "Off-price Retailer Drawn to Morristown". Daily Record. Morristown, New Jersey. Jan 6, 1985. p. 61. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  22. ↑ "Reynolds Renovating". The Courier-News. Bridgewater, New Jersey. Aug 12, 1986. p. 12. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  23. ↑ "6th store opens". Asbury Park Press. Asbury Park, New Jersey. Sep 20, 1987. p. 71. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  24. ↑ "New Reynolds Store". The Central New Jersey Home News. New Brunswick, New Jersey. Dec 12, 1990. p. 5. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  25. ↑ "Mantoloking". Asbury Park Press. Asbury Park, New Jersey. Apr 11, 1986. p. 6. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  26. ↑ "Rafters announces biggest branch yet". The Courier-News. Bridgewater, New Jersey. March 5, 1993. p. 28. Retrieved August 19, 2020– via newspapers.com. Lock-green.svg
  27. ↑ Kusterbeck, Staci (Oct 1, 2006). "Supply Chain: U.S. How Reynolds Managed Inventory Amid Crisis". Retail Info Systems. Retrieved August 21, 2020.
  28. ↑ "Elizabeth Reynolds, great-grandmother of 37". New Jersey Hills. Jan 4, 2001. Retrieved July 18, 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.