MJ Designs
Encyclopedia
MJ Designs was an arts and crafts retail store in the Dallas/Fort Worth and Washington, D.C.
, areas. The company filed Chapter 11 Bankruptcy on December 13, 2002, and went out of business in May 2003.
products, floral products and arrangements, scrapbooking, custom framing, bisque
, and hobby supplies such as dollhouse merchandise, miniature train sets, and decorations.
In 1983 his father sold out the contracts to Sam Wyly. James Dupey sold his son's contracts for the stores that were not paid for 100%, along with Michael's cash deposits and his name (Michael's Arts & Crafts). James Dupey told Michael that the store name was registered under Dupey Management Corporation (Michael Dupey's Corporation), however, it was not James Dupey had registered it in his corporation, Dupey Enterprises, Inc.
Michael worked with the new owner Sam Wyly. Sam was a fair and honest businessman. He gave Michael the two Michaels Arts & Craft Stores in the Dallas / Fort Worth area in return for Michael to help him build public company.
Sam operated Michaels from 1983 till 1990 when it became involved in financial difficulty. Michael Dupey, who at the time was operating his 24-unit MJDesigns chain, was brought in as a special consultant, marking the return of the "merchandising genius," and purchasing was dramatically streamlined. Quickly, the public company was moving forward on all fronts with positive momentum. The Michaels chain comprised 140 stores by the end of 1990, with sales reaching $362 million and debt down from $34 million to $9 million after one year. Michael worked as a consultant for Michael’s public company till 1999.
MJ Designs was formerly a part of Michaels
, operating as Michael's MJ Designs, before the company split in the mid 1980s. The company started out as a father and son type setting. The chain was named after the son Mike Dupey. The company split was caused by major disagreements between the father and son. Part of the court ruling was Mike will get the stores in the DFW area and the East coast and rename them MJ Designs. James Dupey held the Austin and Houston areas, the court ruling stated they stay out of each other's territory for 7 years, allowing both companies to grow without competition. In 1997 after the court ruling expired. MJ Designs first filed for Chapter 11 Bankruptcy in 1999, They closed all their stores in the Northeast region, which were in Maryland, New York,Georgia, Virginia, and several other states. Several other locations were shut down in DFW about this time. The remaining 9 stores were bought out by Cardnell Investors, who reopened the Dallas/Fort Worth stores. MJ Designs filed for Chapter 11 Bankruptcy again on 13 December 2002 and closed its doors the following May.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
, areas. The company filed Chapter 11 Bankruptcy on December 13, 2002, and went out of business in May 2003.
Products
MJ Designs sold a variety of arts and craftsArts and crafts
Arts and crafts comprise a whole host of activities and hobbies that are related to making things with one's hands and skill. These can be sub-divided into handicrafts or "traditional crafts" and "the rest"...
products, floral products and arrangements, scrapbooking, custom framing, bisque
Bisque (pottery)
Bisque porcelain is unglazed, white ceramic ware Examples include bisque dolls.Bisque also refers to "pottery that has been fired but not yet glazed...
, and hobby supplies such as dollhouse merchandise, miniature train sets, and decorations.
History
Michael Dupey, a hard working young, enterprising businessman whom retail analysts would later hail as a "merchandising genius." He got his start in 1968 when he worked for City Product Corporation (Ben Franklin Stores). He converted one of the Ben Franklin Stores into arts and crafts. His father, James Dupey, purchased the Ben Franklin store for $72,000 from City Product Corporation. His father put Michael on a buyout contract to purchase the Ben Franklin store. The buyout stated that Michael had to pay his father back 1.2 million after 8 years, after taxes. In that period of time he changed the name to Michaels Arts & Crafts and paid his father back in 8 years.In 1983 his father sold out the contracts to Sam Wyly. James Dupey sold his son's contracts for the stores that were not paid for 100%, along with Michael's cash deposits and his name (Michael's Arts & Crafts). James Dupey told Michael that the store name was registered under Dupey Management Corporation (Michael Dupey's Corporation), however, it was not James Dupey had registered it in his corporation, Dupey Enterprises, Inc.
Michael worked with the new owner Sam Wyly. Sam was a fair and honest businessman. He gave Michael the two Michaels Arts & Craft Stores in the Dallas / Fort Worth area in return for Michael to help him build public company.
Sam operated Michaels from 1983 till 1990 when it became involved in financial difficulty. Michael Dupey, who at the time was operating his 24-unit MJDesigns chain, was brought in as a special consultant, marking the return of the "merchandising genius," and purchasing was dramatically streamlined. Quickly, the public company was moving forward on all fronts with positive momentum. The Michaels chain comprised 140 stores by the end of 1990, with sales reaching $362 million and debt down from $34 million to $9 million after one year. Michael worked as a consultant for Michael’s public company till 1999.
MJ Designs was formerly a part of Michaels
Michaels
Michaels is an arts and crafts retail chain. It currently operates more than 1040 Michaels Arts and Crafts Stores located in 49 U.S. states and in Canada. The company owns and operates the Aaron Brothers retail chain which consists of more than 140 stores...
, operating as Michael's MJ Designs, before the company split in the mid 1980s. The company started out as a father and son type setting. The chain was named after the son Mike Dupey. The company split was caused by major disagreements between the father and son. Part of the court ruling was Mike will get the stores in the DFW area and the East coast and rename them MJ Designs. James Dupey held the Austin and Houston areas, the court ruling stated they stay out of each other's territory for 7 years, allowing both companies to grow without competition. In 1997 after the court ruling expired. MJ Designs first filed for Chapter 11 Bankruptcy in 1999, They closed all their stores in the Northeast region, which were in Maryland, New York,Georgia, Virginia, and several other states. Several other locations were shut down in DFW about this time. The remaining 9 stores were bought out by Cardnell Investors, who reopened the Dallas/Fort Worth stores. MJ Designs filed for Chapter 11 Bankruptcy again on 13 December 2002 and closed its doors the following May.