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Rainbow Shops was founded in 1935 [2] in New York City by Irving Arthur Swarzman, [3] an Austrian native who was raised in Brooklyn. Swarzman chose the name “Rainbow” to reflect the vibrant and diverse range of affordable fashion options sold at the store.
In 1970 (55 years ago) (), Edison Brothers Stores purchased the 5-7-9 chain, making it one of numerous clothing and shoe chains the company expanded nationwide. [2] In May 1999 (25 years ago) (), Edison Brothers, which had gone bankrupt and was being liquidated, sold the 5-7-9 stores to a newly formed subsidiary of A.I.J.J. Enterprises, Inc., owner of Rainbow Shops.
The stores joined nine other Rainbow supermarkets that were shut down in July, 2014, after Rainbow's owner Roundys left the Twin Cities market. After the closures the brand only had four remaining stores. [9] The two Rainbow Foods stores on Lake Street and on Robert Street were said to close by November 9, 2014. After the closures there were ...
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Rainbow's first substantial expansion, in 1978, was the opening of a general store (selling vitamins, dry goods, housewares, books, clothing etc.). It was located a few doors down from the grocery store. The general store initially ran at a considerable loss and became a significant financial drain on the grocery store.
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