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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]
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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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In the mid-1990s, Boyles Furniture bought 65 acres near Furnitureland South. Boyles chief operating officer Rick Grant said, "We knew when we bought the land that our vision was to make this a furniture destination." [2] Boyles only needed eight acres for its store, which it moved from downtown, which the company believed was not doing well ...