Jamesway - Citizendia

Jamesway Corporation

Type	Department store
Founded	1961
Headquarters	Secaucus, New Jersey
Industry	Retail
Products	Clothing, footwear, bedding, furniture, jewelry, beauty products, electronics and housewares. A department store is a Retail establishment which specializes in selling a wide range of products without a single predominant merchandise line. Secaucus is a town in Hudson County, New Jersey, USA. As of the United States 2000 Census, the town population was 15931 For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need

Jamesway was a chain of discount department stores founded in Jamestown, New York, in 1961. A department store is a Retail establishment which specializes in selling a wide range of products without a single predominant merchandise line. Jamestown is a City in Chautauqua County, New York in the United States. At its peak in 1991, the company operated 138 stores throughout the mid-Atlantic region of the United States and employed nearly 6,000. The United States of America —commonly referred to as the The company had locations in NY, NJ, PA, MD, OH, VA, DE and other states. New York ( is a state in the Mid-Atlantic and Northeastern regions of the United States and is the nation's third most populous New Jersey ( is a state in the Mid-Atlantic and Northeastern regions of the United States. The name Jamesway is derived the town in which the first store was located. Their headquarters was in Secaucus, NJ. Secaucus is a town in Hudson County, New Jersey, USA. As of the United States 2000 Census, the town population was 15931 Throughout the 70s and 80s, Jamesway expanded from more than 100 stores in 1988 to 136 stores in 1990. By 1991, Jamesway had grown to 138 stores and had sales of $855 million.

Bankruptcy

Peter Hollis, former president and CEO of Ames, joined Jamesway in 1991 and was named president in February 1991. A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator Ames was a chain of Discount stores based in Rocky Hill Connecticut in the United States. In April 1991, in an effort to strengthen its financial position, the company secured a $40 million refinancing agreement and closed 11 unprofitable stores. In January 1993, Jamesway rolled out a new store format and planned to completely remodel the 127-store chain within the following three years. The remodel would include completely redoing 30 stores in 1993. The remodeling efforts included better lighting, store layouts, and signage improvements throughout the store.

In June 1993, Joseph Ettore, most recently chairman of Stuarts, rejoined the company as president. On July 19, 1993 the company filed Chapter 11 bankruptcy protection. Events 711 - Muslim forces under Tariq ibn Ziyad defeat the Visigoths led by their king Roderic. Year 1993 ( MCMXCIII) was a Common year starting on Friday (link will display full 1993 Gregorian calendar) Before the filing, the chain had sales of $1. 05 billion and 7,400 employees. In August 1993, the discounter said it cut 70 headquarters jobs and implemented a management realignment. "We want to stay in business," emphasized Joseph Ettore, President and CEO. Back then, Jamesway operated 127 stores. In 1993 and 1994 Jamesway was forced to do a round of closings. By early 1995, Jamesway had about 95 stores left open. Jamesway faced competition from other large chains such as Ames, Bradlees, Caldor and Hills, which started to open new stores in areas were Jamesway stores were already located. Ames was a chain of Discount stores based in Rocky Hill Connecticut in the United States. Bradlees was a chain of Discount department stores which operated primarily in the Northeastern United States. Caldor was a chain of Discount department stores based in Norwalk Connecticut. Hills Department Store was a Canton Massachusetts -based discount Department store chain

In 1995, the chain emerged from bankruptcy, only to be hit hard once again by competition, this time from Wal-Mart, which began opening stores in many Jamesway trade areas. Wal-Mart Stores Inc (or Walmart as written in its new logo is an American public corporation that runs a chain of large discount department stores Unable to compete, Jamesway was once again forced into bankruptcy in October 1995. Jamesway closed its doors in December 1995. Some stores were sold to Ames, but that chain declared bankruptcy and closed in 2002.

External links

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