Waldenbooks
Encyclopedia
Waldenbooks operated by the Walden Book Company, Inc., was an American shopping mall
-based bookstore chain and a subsidiary of Borders Group
. The chain also ran a video game and software chain under the name Waldensoftware as well as a children's edutainment
chain under Walden Kids. In 2011 the chain was liquidated in bankruptcy.
. Within fifteen years it had grown to over 250 locations. In 1962 he decided to open a bookstore, and in 1981 it became the first bookstore to have stores in every state. In 1969 it was purchased by the Broadway Hale Stores, a California chain of department stores.http://books.google.com/books?id=KxbZz3FPcH0C&pg=PA45&dq=%22Lawrence+Hoyt%22+waldenbooks&hl=en&ei=z6eCTvisE43G0AGwnKm4AQ&sa=X&oi=book_result&ct=result&resnum=1&ved=0CEIQ6AEwAA#v=onepage&q=%22Lawrence%20Hoyt%22%20waldenbooks&f=false. For a time it was owned by the retail conglomerate
Carter Hawley Hale
.
In 1984, Waldenbooks acquired the Brentano's
chain, and later that year was itself acquired by Kmart
. In 1994, Kmart merged Waldenbooks and Borders
, another chain it had acquired, forming the Borders-Walden Group. In 1995 the renamed Borders Group was able to buy back its stock
and it was listed independently on the New York Stock Exchange
.
After 2004, many Waldenbooks locations were re-branded as "Borders Express" stores. Borders Group also announced that it was downsizing the Waldenbooks chain to respond to the current competitive environment. As of January 2010, 182 stores had been closed.
On July 18, 2011, Borders Group filed for liquidation to close all of its remaining Waldenbooks and other stores. Liquidation commenced on July 22, 2011.
Shopping mall
A shopping mall, shopping centre, shopping arcade, shopping precinct or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to easily walk from unit to unit, along with a parking area — a modern, indoor version...
-based bookstore chain and a subsidiary of Borders Group
Borders Group
Borders Group, Inc. was an international book and music retailer based in Ann Arbor, Michigan. The company employed approximately 19,500 throughout the U.S., primarily in its Borders and Waldenbooks stores....
. The chain also ran a video game and software chain under the name Waldensoftware as well as a children's edutainment
Edutainment
Edutainment is a form of entertainment designed to educate as well as to amuse.-Overview:...
chain under Walden Kids. In 2011 the chain was liquidated in bankruptcy.
History
On March 4, 1933, Lawrence Hoyt (1902-1983), a former sales manager for Simon and Schuster, opened a rental library in Bridgeport, ConnecticutBridgeport, Connecticut
Bridgeport is the most populous city in the U.S. state of Connecticut. Located in Fairfield County, the city had an estimated population of 144,229 at the 2010 United States Census and is the core of the Greater Bridgeport area...
. Within fifteen years it had grown to over 250 locations. In 1962 he decided to open a bookstore, and in 1981 it became the first bookstore to have stores in every state. In 1969 it was purchased by the Broadway Hale Stores, a California chain of department stores.http://books.google.com/books?id=KxbZz3FPcH0C&pg=PA45&dq=%22Lawrence+Hoyt%22+waldenbooks&hl=en&ei=z6eCTvisE43G0AGwnKm4AQ&sa=X&oi=book_result&ct=result&resnum=1&ved=0CEIQ6AEwAA#v=onepage&q=%22Lawrence%20Hoyt%22%20waldenbooks&f=false. For a time it was owned by the retail 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...
Carter Hawley Hale
Carter Hawley Hale Stores
Broadway Stores, Inc. was an American retailer based in Southern California. Known through its history as Carter Hawley Hale Stores and Broadway Hale Stores over time, it acquired other retail store chains in regions outside its California home base and became in certain retail sectors a regional...
.
In 1984, Waldenbooks acquired the Brentano's
Brentano's
Brentano's was an American bookstore. In addition to the numerous locations in the United States, there was a Brentano's on Avenue de l'Opéra in Paris, at the same location for 114 years....
chain, and later that year was itself acquired by Kmart
Kmart
Kmart, sometimes styled as "K-Mart," is a chain of discount department stores. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Wal-Mart and...
. In 1994, Kmart merged Waldenbooks and Borders
Borders Group
Borders Group, Inc. was an international book and music retailer based in Ann Arbor, Michigan. The company employed approximately 19,500 throughout the U.S., primarily in its Borders and Waldenbooks stores....
, another chain it had acquired, forming the Borders-Walden Group. In 1995 the renamed Borders Group was able to buy back its stock
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
and it was listed independently on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
.
After 2004, many Waldenbooks locations were re-branded as "Borders Express" stores. Borders Group also announced that it was downsizing the Waldenbooks chain to respond to the current competitive environment. As of January 2010, 182 stores had been closed.
On July 18, 2011, Borders Group filed for liquidation to close all of its remaining Waldenbooks and other stores. Liquidation commenced on July 22, 2011.