Sears plc
Encyclopedia
Sears plc was a large British
-based conglomerate
. The Company was listed on the London Stock Exchange
and was once a constituent of the FTSE 100 Index
but it was acquired by Sir Philip Green
in 1999.
and William Sears in 1891 and initially traded as bootmakers under the name of Trueform. It had acquired Freeman, Hardy and Willis
by 1929. The business was acquired by Charles Clore
in 1953. He renamed it Sears Holdings in 1955 and it went on to buy the Manfield and Dolcis
shoe shop chains in 1956. In the late 1950's Clore consolidated all the shoe brands Sears had acquired under the name British Shoe Corporation under which name it also bought Saxone, Lilley & Skinner, another shoe shop chain, in 1962.
Sears decided to invest in department stores in 1965 acquiring Lewis's
Investment Trust which itself controlled Selfridges
. In 1966, Selfridges launched the Miss Selfridge
department, which subsequently expanded to a store chain in its own right.
In 1971 the Company diversified again buying William Hill
, a chain of bookmakers.
It bought Wallis
in 1980 and Foster Brothers Clothing, which owned Adams Childrenswear
, in 1985.
The Company was renamed Sears plc in 1985.
It acquired Richard Shops
in 1992. In 1996 the Company sold most of its shoe shops to Stylo plc
.
Sears plc was acquired by January Investments on behalf of Sir Philip Green
in January 1999. The womenswear business (comprising Warehouse, Richards, Wallis and Miss Selfridge) was subsequently transferred to Arcadia Group
. Philip Green later purchased the Arcadia Group, regaining control of Wallis and Miss Selfridge alongside Arcadia's other brands (Arcadia having closed Richards, and sold Warehouse to Rubicon Retail
)
, or close them. Dolcis was not included in the original sale of shoe stores to Stylo and traded independently until 1998 when it was purchased by fashion retail group Alexon. The chain split off from Alexon in 2006, but collapsed into administration in 2008, with the rump of the chain purchased by Stylo.
Adams Childrenswear
- now trading as 'Adams Kids' - remains on the high street, though it has had some difficulties over the years, and has collapsed into administration twice since 2006; on both occasions John Shannon has purchased a portion of the chain's outlets and the Adams brand.(now defunct)
William Hill plc is now owned by private equity firms Cinven and CVC Capital Partners. It remains one of the UK's leading betting and gaming organisations.
Selfridges
is today owned by Canadian firm Galen Weston
and has expanded beyond London with branches in Manchester
and Birmingham
.
Richard Shops
were closed down by Arcadia Group
shortly after the firm took the chain over from Sears. Miss Selfridge
and Wallis
remain part of Arcadia, and the firm has also continued to develop and evolve the Outfit out-of-town fashion store format initially developed by Sears. Arcadia sold Warehouse as part of the deal which created Rubicon Retail
in 2002; subsequently Rubicon merged with Mosaic Fashions
, and following the collapse of Mosaic, Warehouse is in the hands of the new firm, Aurora Fashions, which took on many of Mosaic's brands.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
-based conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
. The Company was listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and was once a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
but it was acquired by Sir Philip Green
Philip Green
Sir Philip Green is a British businessman. Green was born into a Jewish family in 1952, beginning as a businessman at the age of 15. The first and last quoted company Green took lead of was "Amber Day", from which he stepped down as CEO and Chairman in 1992...
in 1999.
History
The business was founded by JohnJohn George Sears
John George Sears was a shoe manufacturer and the founder of Sears plc, which was one of the United Kingdom's largest retail businesses.-Career:...
and William Sears in 1891 and initially traded as bootmakers under the name of Trueform. It had acquired Freeman, Hardy and Willis
Freeman, Hardy and Willis
Freeman, Hardy and Willis was a major chain of footwear retailers in the United Kingdom.-History:The shoe retailer was established in 1875 and was named after three employees of the company. For many years, there was a branch in nearly every town in the United Kingdom. In 1929 the company was...
by 1929. The business was acquired by Charles Clore
Charles Clore
Sir Charles Clore was a British financier, retail and property magnate and philanthropist.-Career:Charles Clore owned, through Sears Holdings, the British Shoe Corporation and Selfridges department store, as well as investing heavily in property.He owned Jowett Cars Ltd from 1945-1947 where he was...
in 1953. He renamed it Sears Holdings in 1955 and it went on to buy the Manfield and Dolcis
Dolcis Shoes
-History:The company began life on a street barrow in 1863 when John Upson started to sell his shoes on Woolwich Town Market. Business grew, and from the barrow he graduated to his first store in Woolwich called the Great Boot Provider....
shoe shop chains in 1956. In the late 1950's Clore consolidated all the shoe brands Sears had acquired under the name British Shoe Corporation under which name it also bought Saxone, Lilley & Skinner, another shoe shop chain, in 1962.
Sears decided to invest in department stores in 1965 acquiring Lewis's
Lewis's
Lewis's was a large department store in Liverpool city centre. It was formerly the flagship of a chain of department stores under the Lewis's name, that operated from 1856 to 1991, when the company went into administration. Several stores in the chain were bought by the company Owen Owen and...
Investment Trust which itself controlled Selfridges
Selfridges
Selfridges, AKA Selfridges & Co, is a chain of high end department stores in the United Kingdom. It was founded by Harry Gordon Selfridge. The flagship store in London's Oxford Street is the second largest shop in the UK and was opened on 15 March 1909.More recently, three other stores have been...
. In 1966, Selfridges launched the Miss Selfridge
Miss Selfridge
Miss Selfridge is a nationwide UK high street store which began as the young fashion section of Selfridges department store in London in 1966. Miss Selfridge got its name when Charles Clore, the owner of Selfridges at the time, saw a window display in the Bonwit Teller store in New York which...
department, which subsequently expanded to a store chain in its own right.
In 1971 the Company diversified again buying William Hill
William Hill (bookmaker)
William Hill plc is one of the largest bookmakers in the United Kingdom. Its headquarters is in the north London suburb of Wood Green and in Leeds, West Yorkshire. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.-History:...
, a chain of bookmakers.
It bought Wallis
Wallis (retailer)
Wallis is a British women's clothing retailer. The brand operates from 134 stores and 126 concessions across the UK and Republic of Ireland. Wallis is a subsidiary of the Arcadia Group and one of the many companies under ownership of Philip Green, a British retailing icon.-History:The first store...
in 1980 and Foster Brothers Clothing, which owned Adams Childrenswear
Adams Childrenswear
JS Childrenswear Ltd is a children's clothing retailer, based in Nuneaton, Warwickshire in the United Kingdom.- History :...
, in 1985.
The Company was renamed Sears plc in 1985.
It acquired Richard Shops
Richard Shops
-History:Richard Shops was originally part of the clothes-selling empire United Drapery Stores, created in 1927 by the controversial Leeds-born businessman and philanthropist Jack Lyons...
in 1992. In 1996 the Company sold most of its shoe shops to Stylo plc
Stylo
Stylo plc is a UK based PLC engaged in footwear retailing based in Bradford. It operates under more than 1 brand including Barratts, Priceless and Shutopia and supplies shoes to Dorothy Perkins...
.
Sears plc was acquired by January Investments on behalf of Sir Philip Green
Philip Green
Sir Philip Green is a British businessman. Green was born into a Jewish family in 1952, beginning as a businessman at the age of 15. The first and last quoted company Green took lead of was "Amber Day", from which he stepped down as CEO and Chairman in 1992...
in January 1999. The womenswear business (comprising Warehouse, Richards, Wallis and Miss Selfridge) was subsequently transferred to Arcadia Group
Arcadia Group
The Arcadia Group Limited a British company that owns the high street clothing retailers Burton, Dorothy Perkins, Evans, Miss Selfridge, Topman, Topshop, Wallis and BHS, and the out of town chain Outfit, which sells lines from the other group chains...
. Philip Green later purchased the Arcadia Group, regaining control of Wallis and Miss Selfridge alongside Arcadia's other brands (Arcadia having closed Richards, and sold Warehouse to Rubicon Retail
Rubicon Retail
Rubicon Retail was a British retail group which traded between 2002 and 2006.The firm was formed in 2002 when a management buyout of several firms then owned by Arcadia Group took place. This resulted in high street chains Warehouse and Principles, and catalogue retailers Hawkshead and Racing...
)
The brands today
After taking on a raft of footwear brands, Stylo subsequently decided to consolidate the stores under their Barratts and PriceLess Shoes branding; as such, many of the other brands (Lilley & Skinner, Trueform, Saxone, FHW) were axed. The deal meant Stylo had a surfeit of retail space in many locations, and so decided to sell off un-needed stores to other operators, including Shoe ZoneShoe Zone
Shoe Zone is a footwear retailer in the United Kingdom and Ireland which sells shoes at low prices. It has over 800 stores in different cities and towns throughout the UK and Ireland and around 5,750 employees. The company has an annual turnover of 239 million...
, or close them. Dolcis was not included in the original sale of shoe stores to Stylo and traded independently until 1998 when it was purchased by fashion retail group Alexon. The chain split off from Alexon in 2006, but collapsed into administration in 2008, with the rump of the chain purchased by Stylo.
Adams Childrenswear
Adams Childrenswear
JS Childrenswear Ltd is a children's clothing retailer, based in Nuneaton, Warwickshire in the United Kingdom.- History :...
- now trading as 'Adams Kids' - remains on the high street, though it has had some difficulties over the years, and has collapsed into administration twice since 2006; on both occasions John Shannon has purchased a portion of the chain's outlets and the Adams brand.(now defunct)
William Hill plc is now owned by private equity firms Cinven and CVC Capital Partners. It remains one of the UK's leading betting and gaming organisations.
Selfridges
Selfridges
Selfridges, AKA Selfridges & Co, is a chain of high end department stores in the United Kingdom. It was founded by Harry Gordon Selfridge. The flagship store in London's Oxford Street is the second largest shop in the UK and was opened on 15 March 1909.More recently, three other stores have been...
is today owned by Canadian firm Galen Weston
Galen Weston
Willard Gordon Galen Weston, OC, OOnt , is a Canadian businessman and philanthropist. He is the Chairman and President of George Weston Limited...
and has expanded beyond London with branches in Manchester
Manchester
Manchester is a city and metropolitan borough in Greater Manchester, England. According to the Office for National Statistics, the 2010 mid-year population estimate for Manchester was 498,800. Manchester lies within one of the UK's largest metropolitan areas, the metropolitan county of Greater...
and Birmingham
Birmingham
Birmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...
.
Richard Shops
Richard Shops
-History:Richard Shops was originally part of the clothes-selling empire United Drapery Stores, created in 1927 by the controversial Leeds-born businessman and philanthropist Jack Lyons...
were closed down by Arcadia Group
Arcadia Group
The Arcadia Group Limited a British company that owns the high street clothing retailers Burton, Dorothy Perkins, Evans, Miss Selfridge, Topman, Topshop, Wallis and BHS, and the out of town chain Outfit, which sells lines from the other group chains...
shortly after the firm took the chain over from Sears. Miss Selfridge
Miss Selfridge
Miss Selfridge is a nationwide UK high street store which began as the young fashion section of Selfridges department store in London in 1966. Miss Selfridge got its name when Charles Clore, the owner of Selfridges at the time, saw a window display in the Bonwit Teller store in New York which...
and Wallis
Wallis (retailer)
Wallis is a British women's clothing retailer. The brand operates from 134 stores and 126 concessions across the UK and Republic of Ireland. Wallis is a subsidiary of the Arcadia Group and one of the many companies under ownership of Philip Green, a British retailing icon.-History:The first store...
remain part of Arcadia, and the firm has also continued to develop and evolve the Outfit out-of-town fashion store format initially developed by Sears. Arcadia sold Warehouse as part of the deal which created Rubicon Retail
Rubicon Retail
Rubicon Retail was a British retail group which traded between 2002 and 2006.The firm was formed in 2002 when a management buyout of several firms then owned by Arcadia Group took place. This resulted in high street chains Warehouse and Principles, and catalogue retailers Hawkshead and Racing...
in 2002; subsequently Rubicon merged with Mosaic Fashions
Mosaic Fashions
Mosaic Fashions hf was the parent company of several fashion brands. The company has 1,760 stores and concessions in the UK, Ireland, Europe and the USA, 234 Franchise stores in 44 countries and 93 joint venture stores including 84 concessions in China....
, and following the collapse of Mosaic, Warehouse is in the hands of the new firm, Aurora Fashions, which took on many of Mosaic's brands.