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Encyclopedia > Caldor
This article does not cite any references or sources. (August 2006)
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Caldor
Fate Bankruptcy
Founded 1951 (Port Chester, New York)
Defunct 1999
Location Norwalk, Connecticut
Industry Retail
Products Clothing, giftware, photography, garden/seasonal, sporting goods, large appliances, records, hardware, footwear, bedding, furniture, jewelry, beauty products, electronics and housewares.

Caldor was a chain of discount department stores based in the Norwalk, CT. The chain declared bankruptcy in 1995 and closed all of its stores on May 15, 1999. Image File history File links Caldor_logo. ... Notice of closure stuck on the door of a computer store the day after its parent company, Granville Technology Group Ltd, declared bankruptcy (strictly, put into administration—see text) in the United Kingdom. ... Year 1951 (MCMLI) was a common year starting on Monday (link will display the full calendar) of the Gregorian calendar. ... Port Chester is a village in Westchester County, New York, United States. ... This article is about the year. ... Motto: The Right Place, The Right Time Location in Fairfield County, Connecticut Coordinates: NECTA Bridgeport-Stamford Region South Western Region Incorporated 1651 Consolidated 1913 Government type Mayor-council Mayor Dick Moccia Area    - City 36. ... Drawing of a self-service store. ... The interior of a typical Macys department store. ... City nickname: County Fairfield County, Connecticut Area  - Total  - Water 59. ... Notice of closure stuck on the door of a computer store the day after its parent company, Granville Technology Group Ltd, declared bankruptcy (strictly, put into administration—see text) in the United Kingdom. ... Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ... is the 135th day of the year (136th in leap years) in the Gregorian calendar. ... This article is about the year. ...

Contents

History

Beginning

The first store was opened by Carl and Dorothy Bennett in Port Chester, New York, in 1951; the name was taken from parts of the couple's first names. Caldor had expanded to several locations by the mid 1960s, and by the 1980s, had locations across the East Coast, stretching from New Hampshire to Virginia. As of late 1998, Caldor had 145 stores in ten states. Port Chester is a village in Westchester County, New York, United States. ... Year 1951 (MCMLI) was a common year starting on Monday (link will display the full calendar) of the Gregorian calendar. ... The 1960s decade refers to the years from 1960 to 1969, inclusive. ... The 1980s refers to the years from 1980 to 1989. ... East Coast can refer to: East Coast of the United States East Coast hip hop East Coast Park East-coast liberal East Coast Railway East Coast Akalat East Coast bias East Coast Music Awards East Coast Bays East Coast Main Line East Coast Greenway East Coast Parkway East Coast Swing... Official language(s) English Capital Concord Largest city Manchester Area  Ranked 46th  - Total 9,350 sq mi (24,217 km²)  - Width 68 miles (110 km)  - Length 190 miles (305 km)  - % water 4. ... This article is about the U.S. state. ... Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ...

Classic Caldor rainbow logo

The Bennetts sold the company to Associated Dry Goods Corporation (ADG) in 1981. ADG would merge with May Department Stores in 1986. May sold the chain in November 1990 in a leveraged buyout. In 1991, Caldor went public and earned over $2.5 billion in revenue that year, becoming the fourth largest retailer in the United States behind Kmart, Target, and Wal-Mart. That same year Caldor came out with a new red logo and in 1992 introduced a new format for their stores. Throughout the early 1990s, Caldor expanded and renovated many of their older stores. By 1994, Caldor had 166 stores in 10 states. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... This article or section does not cite any references or sources. ... Year 1981 (MCMLXXXI) was a common year starting on Thursday (link displays the 1981 Gregorian calendar). ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Year 1986 (MCMLXXXVI) was a common year starting on Wednesday (link displays 1986 Gregorian calendar). ... Look up November in Wiktionary, the free dictionary. ... Year 1990 (MCMXC) was a common year starting on Monday (link displays the 1990 Gregorian calendar). ... A leveraged buyout (or LBO, or highly-leveraged transaction (HLT), or bootstrap transaction) occurs when a financial sponsor gains control of a majority of a target companys equity through the use of borrowed money or debt. ... Year 1991 (MCMXCI) was a common year starting on Tuesday (link will display the 1991 Gregorian calendar). ... This article does not cite any references or sources. ... This article is about the United States retail company. ... Wal-Mart Stores, Inc. ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... For the band, see 1990s (band). ... Year 1994 (MCMXCIV) The year 1994 was designated as the International Year of the Family and the International Year of the Sport and the Olympic Ideal by the United Nations. ...


Slogan

The company used many different slogans. The first slogan was "Where shopping is always a pleasure", and was used up until the mid-1980s. The next slogan was "You'll Never Not Find It At Caldor" and was used from the mid up to the late 1980s. The next slogan was "Caldor, your everyday discount store", and was used from the very late 1980s to the early 1990s. The third and final slogan used was "Bring home the difference", and was used from the early 1990s until it closed. Caldor also used a special holiday slogan. This slogan was "Caldor for the holidays", and was used on all the chain's commercials for holiday specials and sales. The 1980s refers to the years from 1980 to 1989. ... The 1980s refers to the years from 1980 to 1989. ... The 1980s refers to the years from 1980 to 1989. ... For the band, see 1990s (band). ... For the band, see 1990s (band). ... From the earliest days of the medium, television has been used as a vehicle for advertising in some countries. ...


Bankruptcy

A vacant Caldor store in Newington, Connecticut

In 1995, Caldor filed for Chapter 11 bankruptcy protection. The chain found itself unable to compete with the lower prices and wider selection of such stores as Wal-Mart (which had acquired several former Caldor stores), causing a dramatic loss in sales. Image File history File links Size of this preview: 800 × 581 pixelsFull resolution (1024 × 744 pixel, file size: 92 KB, MIME type: image/jpeg) Source: http://thecaldorrainbow. ... Image File history File links Size of this preview: 800 × 581 pixelsFull resolution (1024 × 744 pixel, file size: 92 KB, MIME type: image/jpeg) Source: http://thecaldorrainbow. ... Newington is a town in Hartford County, Connecticut. ... Year 1995 (MCMXCV) was a common year starting on Sunday (link will display full 1995 Gregorian calendar). ... Chapter 11 of the Bankruptcy Code governs the process of reorganization under the bankruptcy laws of the United States. ... Wal-Mart Stores, Inc. ...


Caldor also had trouble meeting its financial goals. Especially critical was its inability to meet its earnings before interest, taxes, depreciation, amortization and restructuring numbers. Shortly before filing for bankruptcy, Caldor had $1.2 billion in assets and $883 million in liabilities, the lowest amount of assets and the highest amount of liabilities the company had since it was sold by May Department Stores in 1990. After the bankruptcy, Caldor closed 10 underperforming stores in 1996. For other senses of this word, see interest (disambiguation). ... -1... Declining-balance depreciation of a $50,000 asset with $6,500 salvage value over 20 years. ... Amortization may refer to: Amortization (business), the allocation of a lump sum amount to different time periods. ... Restructuring is the corporate management term for the act of partially dismantling or otherwise reorganizing a company for the purpose of making it more efficient and therefore more profitable. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Year 1990 (MCMXC) was a common year starting on Monday (link displays the 1990 Gregorian calendar). ... Year 1996 (MCMXCVI) was a leap year starting on Monday (link will display full 1996 Gregorian calendar). ...


Closure

In January 1998, Caldor included $1.2 billion in liabilities and $949 million in assets, the worst deficit the company has ever had. A few months later, Caldor closed 12 underperfoming stores located mostly around Washington, DC. This along with the slow financial progress of the chain caused its secured creditors to force the chain into liquidation, feeling that their shareholders would benefit more from the liquidation of the company than if they allowed it to remain in business. In an attempt to prevent the creditors from liquidating the chain, Caldor executives brought in a mediator in an attempt to come up with an agreement that would keep the chain open, but no agreement could be reached, and Caldor was out of options. On January 22, 1999, Caldor announced it was liquidating its remaining merchandise and closing all of its 145 stores. This article or section does not cite its references or sources. ... Year 1998 (MCMXCVIII) was a common year starting on Thursday (link will display full 1998 Gregorian calendar). ... Aerial photo (looking NW) of the Washington Monument and the White House in Washington, DC. Washington, D.C., officially the District of Columbia (also known as D.C.; Washington; the Nations Capital; the District; and, historically, the Federal City) is the capital city and administrative district of the United... Liquidation, or winding up, refers to a business whose assets are converted to money in order to pay off debt. ... is the 22nd day of the year in the Gregorian calendar. ... This article is about the year. ...


The last Caldor stores closed permanently on Saturday, May 15, 1999. At the time the chain closed, it had 22,000 employees and 145 stores in nine East Coast states. is the 135th day of the year (136th in leap years) in the Gregorian calendar. ... This article is about the year. ...


The chain sold $2.5 billion in sales in its last full year open.


Locations

This list is incomplete; you can help by expanding it.
Locations  

Location in the Commonwealth of Virginia Coordinates: Country United States State Virginia County Independent City Founded 1805 Government  - Mayor Robert Lederer Area  - City  6. ... Sears, Roebuck and Company is an American mid-range chain of international department stores, founded by Richard Sears and Alvah Roebuck in the late 19th century. ... Coordinates: , State Virginia County Fairfax County, Virginia Settled 1858 Area  - City 4. ...

See also

This article does not cite any references or sources. ... This article does not cite any references or sources. ...

External links

  • Article from findarticles.com about the last days of Caldor
  • A capture of the last Caldor web advertisement, including a history of the company

  Results from FactBites:
 
law.com - Decision (6670 words)
Caldor solicited bids for the right to purchase the inventory and chose to sell its Merchandise to the Joint Liquidators, who had formed a joint venture.
Caldor answered the Joint Liquidators' complaint by stating various affirmative defenses and counterclaims for, among other things, reformation of the contract based on mutual mistake and fraud in the inducement.
With regard to FRCP 24(a)(2), the bankruptcy court reasoned that Caldor, as a debtor-in-possession, was a fiduciary of its creditors and that in liquidating its assets, Caldor was obligated to act in the best interests of its creditors.
About Caldor (477 words)
I know that Caldor was a neat store chain, they had about 145 stores in 9 states of the east coast at the end.
When it entered Chapter 11 in september 1995, the move was widely viewed as strategic, a way to deal with vendors and factors that had grown nervous concerning Northeastern discount chains in the wake of Bradlees' bankruptcy filing, and to ensure adequate stocks for the Christmas season.
Yet here, once again, as Caldor was gearing up for a 1999 turnaround and perhaps anticipated celebrating a half-century of retailing in 2001, the same old story is being told about a retailer once hailed for its success and innovation that fought like a champion to survive.
  More results at FactBites »


 
 

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