Deb Shops
Encyclopedia
Deb Shops is a specialty retail chain store
in the United States
that sells women's clothing and accessories under its own private labels as well other well-known labels. The company is based in Philadelphia, Pennsylvania and principally serves women in their early-teens through their late-twenties. Deb Shops operates 337 stores across 42 states.
The company parent DSI Holdings filed for bankruptcy on June 27, 2011.
The company expanded in the Philadelphia area in the 1950s. Company Co-Founder Philip Rounick's son, Marvin Rounick, became more involved in the management of the company joining in 1961. Co-Founder Aaron Weiner's son, Warren Weiner, followed suit in 1965. During this time, the company observed the new phenomenon of suburban growth and construction of shopping malls. They responded by opening stores in several locations making them larger and offering more merchandise.
In the 1970s, Marvin Rounick and Warren Weiner closed most of the neighborhood stores and focused on opening larger stores in shopping mall
s. The chain was also renamed Deb Shops and re-focused on women's and girls' clothing.
The company was listed on the NASDAQ Exchange under the ticker symbol DEBS. However, it was removed from the exchange after being acquired in 2007 by the investment firm of Lee Equity Partners
for $395 million, or $28.45 per share.
Chain store
Chain stores are retail outlets that share a brand and central management, and usually have standardized business methods and practices. These characteristics also apply to chain restaurants and some service-oriented chain businesses. In retail, dining and many service categories, chain businesses...
in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
that sells women's clothing and accessories under its own private labels as well other well-known labels. The company is based in Philadelphia, Pennsylvania and principally serves women in their early-teens through their late-twenties. Deb Shops operates 337 stores across 42 states.
The company parent DSI Holdings filed for bankruptcy on June 27, 2011.
History
The company was founded by Philip Rounick and Emma Weiner opened their first store under the name JOY Hosiery in Philadelphia, Pennsylvania in 1932. JOY Hosiery initially sold reasonably priced hosiery, lingerie, and foundations in a wide variety of styles. In 1939, it added nylon stockings to its inventory when those became available.The company expanded in the Philadelphia area in the 1950s. Company Co-Founder Philip Rounick's son, Marvin Rounick, became more involved in the management of the company joining in 1961. Co-Founder Aaron Weiner's son, Warren Weiner, followed suit in 1965. During this time, the company observed the new phenomenon of suburban growth and construction of shopping malls. They responded by opening stores in several locations making them larger and offering more merchandise.
In the 1970s, Marvin Rounick and Warren Weiner closed most of the neighborhood stores and focused on opening larger stores in shopping mall
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...
s. The chain was also renamed Deb Shops and re-focused on women's and girls' clothing.
The company was listed on the NASDAQ Exchange under the ticker symbol DEBS. However, it was removed from the exchange after being acquired in 2007 by the investment firm of Lee Equity Partners
Lee Equity Partners
Lee Equity Partners is a private equity firm focused on growth capital investments in middle-market companies across a range of industries.The firm, which is based in New York City, was founded in 2006 by Thomas H. Lee, the notable private equity investor who previously founded Thomas H...
for $395 million, or $28.45 per share.