Pic 'N' Save
Encyclopedia
Pic 'N' Save was, at one time, the second-largest closeout
retail chain in the United States
. Financial troubles caused the chain to close many of the markets in the late-1990s and early-2000s.
. By 1985, it operated 90 stores in California
and six other Western
U.S. state
s. In 1991, the company changed its name to MacFrugals. It later expanded to the Southwest
and the South
, and left both markets in the late 1990s. In 2002, Big Lots
(formerly Consolidated Stores Corporation) bought out the remaining 'MacFrugals' stores for $995 million in stock and converted them into the Big Lots
brand.
Closeout
A closeout or clearance is the final sale of an item or items to zero inventory. It may be a given model of item that is not selling well, or in the case of the final closure of a retailer because of a relocation, a fire , or especially because of a bankruptcy. In the latter case, it is usually...
retail chain in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Financial troubles caused the chain to close many of the markets in the late-1990s and early-2000s.
History
William Zimmerman founded Pic 'N' Save Corporation in 1950 in Culver City, CaliforniaCulver City, California
Culver City is a city in western Los Angeles County, California. As of the 2010 census, the city had a population of 38,883, up from 38,816 at the 2000 census. It is mostly surrounded by the city of Los Angeles, but also shares a border with unincorporated areas of Los Angeles County. Culver...
. By 1985, it operated 90 stores in California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
and six other Western
Western United States
.The Western United States, commonly referred to as the American West or simply "the West," traditionally refers to the region comprising the westernmost states of the United States. Because the U.S. expanded westward after its founding, the meaning of the West has evolved over time...
U.S. state
U.S. state
A U.S. state is any one of the 50 federated states of the United States of America that share sovereignty with the federal government. Because of this shared sovereignty, an American is a citizen both of the federal entity and of his or her state of domicile. Four states use the official title of...
s. In 1991, the company changed its name to MacFrugals. It later expanded to the Southwest
Southwestern United States
The Southwestern United States is a region defined in different ways by different sources. Broad definitions include nearly a quarter of the United States, including Arizona, California, Colorado, Nevada, New Mexico, Oklahoma, Texas and Utah...
and the South
Southern United States
The Southern United States—commonly referred to as the American South, Dixie, or simply the South—constitutes a large distinctive area in the southeastern and south-central United States...
, and left both markets in the late 1990s. In 2002, Big Lots
Big Lots
Big Lots, Inc. is a Fortune 500 retail corporation with annual revenues well over $4 billion.Its department stores focus mainly on selling closeout and overstock merchandise. The company is based in Columbus, Ohio, USA and currently operates over 1,400 stores in 47 states...
(formerly Consolidated Stores Corporation) bought out the remaining 'MacFrugals' stores for $995 million in stock and converted them into the Big Lots
Big Lots
Big Lots, Inc. is a Fortune 500 retail corporation with annual revenues well over $4 billion.Its department stores focus mainly on selling closeout and overstock merchandise. The company is based in Columbus, Ohio, USA and currently operates over 1,400 stores in 47 states...
brand.