The topic of this article may not meet Wikipedia's notability guidelines for companies and organizations .(January 2023) |
Company type | Subsidiary |
---|---|
Industry | Retail |
Founded | 2002 |
Headquarters | New York, New York, United States, U.S. |
Number of locations | 45 (2023) |
Products | Sunglasses, sunglass accessories |
Parent | Safilo Group (2002-2019) Fairway LLC (2019-present) |
Website | solsticesunglasses |
Solstice Sunglasses (also known as Solstice Sunglass Boutique or simply Solstice) is a retailer of sunglasses and sunglass accessories founded in Secaucus, New Jersey in 2002.
Safilo acquired Solstice in 2002 [1] and sold it to Fairway LLC in 2019 for $9 million. [2]
On February 18, 2021, Solstice, amongst its retail operator, Solstice Marketing Concepts, LLC, filed for Chapter 11 bankruptcy in the United States. During the filing, it had plans to shutter some of its retail footprint. [3]
On August 5, 2021, Solstice exited from Chapter 11 bankruptcy after they got a $6.5 million lifeline from financial institution Second Avenue Capital Partners. [4]
On December 15, 2022, non-bank capital lender GemCap Solutions provided a $7 million line of credit to Solstice. As of 2023, Solstice currently operates 45+ stores in the United States. [5]
In 2020, Solstice was sued by the owner of the Palisades Center mall and its guarantors for refusal to pay rent for almost a year. The lawsuit states that Solstice owes the mall nearly $100,000, and that they have not paid rent since March 1, 2020. Their lease at this location was set to terminate on January 31, 2021. [6]
Mervyn's was an American middle-scale department store chain based in Hayward, California, and founded by Mervin G. Morris (1920–2021). It carried national brands of clothing, footwear, bedding, bath products, furniture, jewelry, beauty products, electronics, toys, and housewares. Many of the company's stores were opened in shopping malls; however, some locations were operated independently. Based on 2005 revenue, Mervyn's was the 83rd largest retailer in the United States.
Bed Bath & Beyond, currently legally known as 20230930-DK-Butterfly-1, Inc., was an American big-box retail chain specializing in housewares, furniture, and specialty items. Headquartered in Union, New Jersey, the chain operated stores in the United States and Canada, and was once counted among the Fortune 500 and the Forbes Global 2000. The chain filed for Chapter 11 bankruptcy in April 2023 and liquidated all of its remaining stores, with the last closing on July 30, 2023. Following the retail chain's liquidation, its name was adopted by online retailer Overstock.com, which acquired the company's trademarks in a bankruptcy auction. The name is also still used by the chain's former Mexican division, which is now independent.
Sunglass Hut is an international retailer of sunglasses and sunglass accessories founded in Miami, Florida, United States, in 1971. Sunglass Hut is part of the Italian-based Luxottica Group, the world’s largest eyewear company.
Boston Market Corporation, known as Boston Chicken until 1995, is an American fast casual restaurant chain headquartered in Golden, Colorado. Since 2020, it has been owned by the Rohan Group.
Circuit City Corporation, Inc., formerly Circuit City Stores, Inc., was an American consumer electronics retail company, which was founded in 1949 by Samuel Wurtzel as the Wards Company, operated stores across the United States, and pioneered the electronics superstore format in the 1970s. After multiple purchases and a successful run on the NYSE, it changed its name to Circuit City Stores Inc.
Aéropostale Inc., is an American shopping mall–based retailer of casual apparel and accessories, principally aimed at young adults and teenagers. Aéropostale maintains control over its proprietary brands by designing, sourcing, marketing, and selling all of its own merchandise. The company sells via Aéropostale stores in the United States and through its e-commerce site.
Belk, Inc. is an American department store chain founded in 1888 by William Henry Belk in Monroe, North Carolina, with nearly 300 locations in 16 states. Belk stores and Belk.com offer apparel, shoes, accessories, cosmetics, home furnishings, and a wedding registry.
Payless ShoeSource Worldwide, LLC, is an international discount footwear chain. Established in 1956 by cousins Louis and Shaol Pozez, Payless was a privately held company owned by Blum Capital, and Golden Gate Capital. In 1961, it became a public company as the Volume Shoe Corporation, which merged with The May Department Stores Company in 1979. In the 1980s, Payless was widely known in the U.S. for its Pro Wings line of discount sneakers, which often had Velcro straps instead of laces. In 1996, Payless became an independent publicly held company. In 2004, Payless announced it would exit the Parade chain and would close 100 Payless Shoe outlets. On August 17, 2007, the company acquired the Stride Rite Corporation and changed its name to Collective Brands, Inc. The company had a total revenue for 2011 of US$3.4 billion. The company also has a stunt premium banner, Palessi Shoes. Payless is currently owned by a group of investors led by Alden Global Capital and Axar Capital Management.
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.
K·B Toys was an American chain of mall-based retail toy stores. The company was founded in 1922 as Kaufman Brothers, a wholesale candy store. The company opened a wholesale toy store in 1946, and ended its candy wholesales two years later to emphasize its toy products. Retail sales began during the 1970s, using the name Kay-Bee Toy & Hobby.
Brookstone is a chain of retail stores in the United States and China. It was founded as a mail-order business in 1965, when it started selling items, such as dental clamps and other specialty tools. Its first physical location opened in 1973 in Peterborough, New Hampshire. The company's headquarters are currently located in Merrimack, New Hampshire.
Eyewear is a term used to refer to all devices worn over both of a person's eyes, or occasionally a single eye, for one or more of a variety of purposes. Though historically used for vision improvement and correction, eyewear has also evolved into eye protection, for fashion and aesthetic purposes, and starting in the late 20th century, computers and virtual reality.
Ashtabula Towne Square, formerly Ashtabula Mall, is an enclosed shopping mall serving the city of Ashtabula, Ohio, United States. It has the capacity for 70 stores as well as a food court. The mall does not have an open anchor store.
Plaza del Norte is a 698,581 sq ft (64,900.3 m2) shopping center located in Hatillo, Puerto Rico currently owned and managed by DDR Corp. It is the largest shopping center in northwestern Puerto Rico, with over 130 stores and fast food restaurants.
The Shops at Nanuet is a lifestyle center located in Nanuet, New York. It is located at the intersection of New York State Route 59 and Middletown Road and is also accessible via exit 14 of the New York State Thruway. Built on the site of the former Nanuet Mall, the Shops at Nanuet debuted in 2013. As of 2022, The mall currently maintains traditional tenants At Home, Stop & Shop, as well as a Regal Cinemas.
Polaroid Eyewear manufactures polarized sunglasses and polarized lenses, as well as optical frames, reading glasses, and clip-on lenses.
Christopher & Banks is an American retail company. Originally headquartered in the Minneapolis suburb of Plymouth, Minnesota, the chain specializes in women's clothing for the age 40-60 demographic.
Safilo Group S.p.A. is an Italian company that designs, produces, and distributes prescription frames, sunglasses, sports eyewear, ski goggles and helmets, and cycling helmets under its own five house brands and 32 licensed brands, including Smith Optics which manufactures military grade eyewear.
Sierra Vista Mall is an enclosed shopping mall in Clovis, California. Opened in 1988, the mall features Kohl's, and Target, plus a go-kart track, indoor Laser Tag park, and 16-screen movie theater. Two empty anchors were formerly occupied by Sears, and United Artists Theaters.
The COVID-19 pandemic has taken a sharp economic toll on the retail industry worldwide as many retailers and shopping centers were forced to shut down for months due to mandated stay-at-home orders. As a result of these closures, online retailers received a major boost in sales as customers looked for alternative ways to shop and the effects of the retail apocalypse were exacerbated. A number of notable retailers filed for bankruptcy including Ascena Retail Group, Debenhams, Arcadia Group, Brooks Brothers, GNC, J. C. Penney, Lord & Taylor and Neiman Marcus.