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Ira A. Watson Co., more commonly known as Watson's was a department store chain based in Knoxville, Tennessee, United States. It was founded in 1907 and grew to many locations throughout the Southeastern United States. The company was purchased for $4.45 million (~$7.76 million in 2023) by Peebles with the transaction closing June 29, 1998. [1]
All of its stores were closed at the end of the year, except for its RoomStore-branded locations, which remained open. In 2005, RoomStore, the only part of Heilig-Meyers remaining, emerged from Chapter 11 bankruptcy after receiving $35,000,000 (~$52.5 million in 2023) to pay off its debts; [ 5 ] RoomStore would be liquidated seven years later.
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Moreover, Goldblatt's did not open any new outlets after the acquisition, or relocate any stores into the new regional malls that ringed the city. After suffering large losses, Goldblatt's sold the downtown store and the other property around Monument Circle to Melvin Simon and Associates for $2.25 million (~$7.62 million in 2023) in December ...
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