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The first major Bradlees store closings came in 1988, when it exited the Southern United States. Bradlees remained profitable into the early 1990s. In 1992, a year after its parent company becoming public once again, Stop & Shop Inc. sold Bradlees to an investment group, and the chain continued as a separate company.
This, along with the company's refusal to abandon city-centers for (by-then) popular malls, forced the company to file for Chapter 11 bankruptcy protection. They were subsequently bought by Bradlees, who closed most of the Almy stores. By the turn of the century Bradlees was driven into bankruptcy and closed.
In May, 1996, then anchor Bradlees announced its store would be closing. [36] Bradlees' closing was completed in November, 1996. [37] Montgomery Wards closed its store at the end of 1997. [37] [38] By early 1998, after Wards' closing, the mall was only 50% occupied. [39]
Timeline of former nameplates merging into Macy's. Many United States department store chains and local department stores, some with long and proud histories, went out of business or lost their identities between 1986 and 2006 as the result of a complex series of corporate mergers and acquisitions that involved Federated Department Stores and The May Department Stores Company with many stores ...
The Internal Revenue Service (IRS) ruled that employees at an unnamed company can designate a portion of their employer match to student debt repayments or health reimbursement accounts, in ...
For 2025, the IRS has adjusted income tax brackets to accommodate rising wages. The 37% top tax rate applies to singles earning over $626,350 and married couples earning over $751,600 (an increase ...
Incidentally, Home Depot opened a store on the same plot of land Two Guys occupied in the mid-1990s (after Two Guys went out of business, the Totowa store was subdivided and redeveloped into a shopping center anchored by Bradlees; Bradlees later moved to a newly built store, and the part of the old Two Guys building it had occupied was ...
When former President Donald Trump was in office, he signed the Tax Cuts and Jobs Act (TCJA) into law in 2018. This law changed the tax code to cut taxes for shareholders and individual taxpayers ...