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At Ben Franklin's peak, the chain had 2,500 stores nationwide. Ben Franklin Stores purchased Texas retailer Duke & Ayres in the early 1970s. [ 3 ] Duke & Ayres was a chain of 5 and 10 cent stores based in Dallas, Texas , with stores that were located throughout the state from approximately 1910 to 1990.
In 1973, businessman Michael J. Dupey founded Michaels in Dallas, Texas when he converted a money-losing Ben Franklin five and dime store into an arts and crafts store. [4] [5] In 1982, Dallas businessman Sam Wyly bought a controlling interest in the company, which by then had 11 outlets with annual revenues around $10 million. [8]
Michael Dupey got his start in 1968 when he worked for City Product Corporation (Ben Franklin Stores). He converted one of these stores into an arts and crafts outlet after his father, James Dupey, purchased it for $72,000 from City Product Corporation. The buyout stated that Michael Dupey had to pay his father back $1.2 million after taxes ...
Apr. 30—When most entrepreneurs and companies first approach Ben Franklin Technology Partners of Northeastern Pennsylvania, they are looking for capital. But ultimately they receive so much more ...
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Below is a list of notable defunct retailers of the United States.. Across the United States, a large number of local stores and store chains that started between the 1920s and 1950s have become defunct since the late 1960s, when many chains were either consolidated or liquidated.