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This is a digitized version of an article from The Timess print archive, before the start of online publication in 1996. But let's be real, we can't guarantee that everything we sell is 100% accurate, reliable, or suitable for your needs. Purity Supreme Many of Caldor's competitors, including Korvette, were pushed out of the market or absorbed into larger retail chains during the late 1970s. So, if you decide to take a chance on us (even though we don't recommend it), just know that you're taking a risk, and it's all on you. ''In some ways the Island has acted as if there's been no national recession,'' Mr. Koppelman said. Caldor's New York stores have been confined to Westchester County and the Hudson Valley, but now the 32-year-old enterprise is about to move onto Long Island. Taking over the Caldor leases is a logical move ''and allows us to enter the New York metropolitan area with a critical mass of stores,'' he said. This place just screams of 1987. My mother's favorite! Comic books. Levin intends to repeat that plan at its 400,000-square-foot Watchung Center, which is anchored by a 138,000-square-foot Caldor store. ''It is way for growing companies to get into a tight market in a much quicker and less expensive way '' said Mr. Schultz. Caldor store This place just screams of 1987. Discount stores, in particular, benefitted, as consumers began to recognize the cost benefits associated with economies of scale. ''History has shown that retailers have a limited life span, but as long as the location is viable and the economics are sound, life for the real estate goes on,'' Mr. Farber said. Real Estate; Caldor's Expansion Onto L.I WebCaldor, California. Caldor, California - Wikipedia We see them around but we don't know what goes on behind the scenes. They also stepped up their efforts to offer increasingly profitable soft lines, boosting sales of those items from 27 percent of revenues before the leveraged buyout to about 31 percent by 1990. Clarke and Balmuth used those proceeds to launch an ambitious store remodeling plan that they had started in 1989, as well as to begin expanding the chain again. The traditional mom-and-pop shop located in the town square was rapidly becoming a memory. CALDOR: Employee Reviews ''Long Island is great for our upscale discount market,'' Mr. Kuller declared. Caldor A key reason why analysts are optimistic is that the closing of Caldor stores, which average about 84,000 square feet, come at a time when the state's economy and retail market continue to be strong. Caldor is aware of demographic statistics that define Nassau and Suffolk Counties on Long Island as among the most affluent in the metropolitan area. The 27-year-old Kirby knew that he was taking a huge risk by leaving his safe job--the chain was owned by Kirby's relatives--but he had a good feeling about Bennett and the new discount store concept. Attracted to the company's growth potential and low debt, Associated Dry Goods (ADG) made a bid for Caldor in 1981. ''Because of the booming economy along with the fact that many Caldor stores are in prime locations, very few are expected to be hurt,'' said Ted Kraus, who heads TKO Real Estate Advisory Group, a retail consulting firm in Mercerville. "CCaldor Opens Stores in Hamilton, Bristol," Trentonian, January 28, 1993. Cooper, Jeanne Dugan, "Attn: K Mart Execs: Caldor Opens New Long Island Store," Newsday, July 27, 1990, p. We want to make it crystal clear that we're not Caldor, Inc. or any other big-shot company trying to sell you stuff. The 1,400-square-foot addition was manned by a small, hard-working staff supervised by Carl. Last year Filene's of Boston opened three of its Filene's Basement stores on Long Island, and it plans to open one in Queens soon. In 1992, in fact, Caldor outbid other retailers to take control of six New York City stores that were being dumped by Alexander's, another retailer. WHEN Caldor, the discount-store chain, announced in January that it was closing its 145 stores, including 28 in New Jersey, William A. Farber was struck by a sense of deja vu. ''We've been expanding into the mid-Atlantic region over the last two years,'' said Gary Vasques, executive vice president of marketing at Kohl's. In contrast to some of its debt-laden peers, however, Caldor was buoyed both by its regional dominance and by its healthy balance sheet, both of which reflected Bennett's management style. From 1956 to 1990, Zayre's offered clothing, footwear, bedding, furniture, jewelry, beauty products, kitchen spices, electronics, toys, and housewares. To obtain road distance you can select route planner. Brighton Mills Shopping Center, 370 Western Ave, Brighton, MA, Earlier orders covered communities between Highway 50 and Highway 88, including Sly Park, Grizzly Flats, Happy Valley, Leoni Meadows and Caldor. Landlords with stores in less than prime spots ''will have to become creative and come up with adaptive reuses,'' he added. Below is shown the table of main cities with the corresponding distances[1] of the main cities from Caldor Shopping Center (MA) measured both in kilometers and in miles. Caldor, he added, is considering leasing more Long Island stores as well. More. By 1981, Bennett and his team had built Caldor into a major regional discount retail powerhouse on the East Coast. 6. It that the big "H" next to the big "Q" bright green color not orange like Home Depot. In cases where the Caldor stores in his company's centers are taken over by a new retailer at a rent that ''is out-of step with today's market,'' he said, there is room to renegotiate certain aspects of the lease that pertain, for example, to rents based on sales volume. Caldor Inc. is a leading retailer of upscale discount goods in the northeastern United States. The 1960s and 1970s were good years for Caldor. Despite hefty capital expenditures, improved earnings allowed Caldor to steadily shave its long term debt load from about $350 million in 1989 to $272 million by 1993. Help us be the best! Anyone can read what you share. Many of the home-improvement chain's 53 stores, 40 of them in New Jersey, were taken over by Staples, the office-supply store, said Mr. Schnurr, whose firm handled the disposition of the Rickel stores. Named after a ship that was lost somewhere off Block Island in RI in 1806, Ann & Hope became quite a popular like a modern day Kohl's in '70s and '80s. MR. FARBER said that was the plan at the Paramus center, a 270,000-square-foot community shopping strip anchored by a 130,000-square-foot Caldor store. Caldor is not the only quality discounter attracted by Long Island's affluent population. In fact, rapid expansion, the absence of a defined growth strategy for the chain, and ADG's general lack of expertise in discount retailing had resulted in mediocre profitability by the mid-1980s. Heres the Best Time for Corn on the Cob in Massachusetts, Submit Your Photo Now for Live 95.9s Mother and Child Look-A-Like Contest 2023, The Berkshires is Home to 2 of the Most Picturesque Towns in Massachusetts, The Tallest Waterfall in Massachusetts is Right Here in the Berkshires, Five of the Most Delicious Celebrity-Owned Restaurants in Massachusetts. As the Woolco stores on Long Island were turned back to their landlords, Caldor quickly signed them up, according to Alan Kuller, its vice president for real estate development. Clarke and Balmuth remained focused on improving the performance of the chain and remodeling existing outlets. That year, ADG acquired Caldor, and, although Caldor lost its independence, Bennett was retained under a five-year management contract, as were several other executives, including Kirby. Search and view in Google Maps points of interest such as: museums, churches, hospitals, railway stations, restaurants, petrol stations, post offices, pharmacies ) located near Caldor Shopping Center (MA): The text of the current page is available under the license {cc by-sa/3.0}, for the maps refer to the license {OpenStreetMap.org}, attention! Furthermore, Caldor's inventory and sales tracking systems had become obsolete compared to many of its technically advanced rivals. Let's make this a fun and wonderful place to shop, buy some gifts, and enjoy the ride. WebCaldor is out of business Manager (Former Employee) - Norwalk, CT - October 31, 2018 Caldor filed for chapter 11 on January 22nd, 1999. ''It's in our backyard,'' he said. WebList of current Caldor locations Edit Contents 1 New Jersey 2 New York 3 Pennsylvania 4 Mr. Farber is chief operating officer at Levin Management Corporation of North Plainfield, which owns and manages 66 shopping centers, 45 of them, totaling nearly 4 million square feet, in New Jersey. Doc Martens. Caldor - Your Favorite Store is Back! The chain consisted of 63 stores, all of them much larger than the original 1,000-plus square foot outlets, and Caldor's revenues were approaching $700 million annually. There are 74 Caldor outlets in Connecticut, New Hampshire, Massachusetts and New York. Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares it what Steiger's was known for. Late last month Kohl's received approval from the bankruptcy court to buy for $142 million the leases of 33 Caldor stores. In fact, Korvette had served as an impetus for the Bennetts and even helped to pave the way for other discount retailers. How well do you know the logos of 50 of the world's most famous companies? Korvettes. This veteran store was one of the first stores in the Northeast in 1978 and survived a wave of Boston-area closures in 2006. [1]The distances indicated are measured in a straight line, the road distances can be appreciably different. List of current Caldor locations - USA Store Fanon Wikia They were the first to offer credit in the form of a charge account, as well. https://www.nytimes.com/1983/03/09/business/real-estate-caldor-s-expansion-onto-li.html. A major U.S. retail powerhouse headquartered in the Midwest, May Department Stores had a reputation as an aggressive, profitable retailer. Not out-of-business, but not a business . The future of the stores in those centers will signal what impact, if any, Caldor's bankruptcy will have on the state's retail market, and on landlords like Levin. ''We've done very well in the Westchester County-Hudson Valley area. There is a public Facebook group, Caldor store #69 Taunton, ma, where Stanley Schuckman of the Schuckman Realty Company in Jericho, L.I., helped Caldor lease the Riverhead, Rocky Point and Ronkonkoma stores. Can You Get Arrested For Speeding In Massachusetts? Finally, we can read about how these great companies came about with Company Histories.. The center is in the process of a $5 million rehabilitation, which Levin is undertaking with Federal Realty Investment Trust, based in Washington, D.C. That, together with Kohl's arrival, ''gives the center a shot in the arm to remain competitive,'' he said. Clarke planned to step up expansion with the addition of 100 new stores by 1999, as well as to complete the renovation of all of its existing outlets. Which location? It now operates under the name Curtain & Bath Outlet and has five Despite the recession, revenues jumped more than five percent in both 1990 and 1991 before rising more than ten percent during 1992. As consumers, we often take for granted all the hard work that goes into building a great company. He concluded, ''It showed that even a loser could do well on the Island.''. Take I-93 S toward Manchester/Boston to exit 37B and merge onto I-95 S. Take exit 25 toward Interstate While Caldor's growth during the early 1980s seemed impressive, ADG failed to profit from the acquisition as it had hoped, and Caldor became a drag on its bottom line. Caldor Did you ever shop at Caldor? All of the stores, ranging from 80,000 to 112,000 square feet, were previously leased by the faltering Woolco discount chain. Lechmere. It remained focused on the East Coast, opening outlets in New York, Connecticut, Massachusetts, and New Jersey, among other states. ''We're starting with a sound retail market and good real estate locations, where land for new construction is scarce, so even though one retailer couldn't make it, another one will,'' he said. When Caldor closed in 1995, Bradlees took over a few of its locations. During the same period, ADG continued to expand through other retail holdings, such as Loehmann's, a department store retail chain. In 1951, while shopping at an E. J. Korvette store in New York City, newlyweds Carl and Dorothy Bennett were inspired to open their own discount store that would be different from the average postwar discount retailer. It's funny to walk down memory lane, though! There's a fun fact for ya. ''We had been looking at the Long island market for some years, and the opportunity presented itself to take a package of stores and enter the community in a coherent fashion.'' Long Island's 19 Caldor locations, from Garden City east to Bridgehampton, WebThe Caldor Shopping Center is located in Hampshire County, Massachusetts, United In addition, retailers who may not want to get involved with the bidding process -- waiting instead for the leases to go back to landlords -- are said to be eyeing the stores. Caldor T Defunct businesses of yesteryear - Boston.com Still, Caldor's problems proved greater than May had anticipated, and income growth was slower than expected. As the number of Caldor stores escalated to nearly 100 by 1986, sales surged to about $1.4 billion, or nearly double revenues before the ADG buyout. They don't taste as good as you remember. Sunglasses. The centers are in Paramus, West Orange, Woodbridge, Watchung and North Brunswick. Now it is faced with the same situation because Caldor anchors five of the company's centers, having replaced Korvettes in the 80's.