- Deb Shops
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Deb Shops, Inc. 
Type Privately held Industry Apparel, Retail Founded 1932 Founder(s) Philip Rounick and Aaron Weiner Headquarters Philadelphia, Pennsylvania, USA Products Clothing, Accessories Employees 2,600 Website www.debshops.com 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[1].
The company parent DSI Holdings filed for bankruptcy on June 27, 2011.[2]
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.
DEB shop, Westland, Michigan
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 malls. The chain was also renamed Deb Shops and re-focused on women's and girls' clothing.[3]
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[1].
References
- ^ a b "Deb Shops Checks Out of Nasdaq". http://www.bloggingstocks.com/2007/07/27/deb-shops-checks-out-of-nasdaq/. Retrieved 2008-11-24.
- ^ http://amlawdaily.typepad.com/amlawdaily/2011/06/bankruptcy-files.html
- ^ "Deb Shops". http://www.fundinguniverse.com/company-histories/Deb-Shops-Inc-Company-History.html. Retrieved 2008-11-24.
External links
Categories:- Clothing retailers of the United States
- Clothing companies of the United States
- Companies based in Philadelphia, Pennsylvania
- Companies established in 1932
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