Watson's (United States)

Infobox_Company
company_name = Ira A. Watson
company_
company_type = Private
foundation = 1907
location = Knoxville, Tennessee, United States
key_people =
industry = Retail
products = apparel, home furnishings
revenue =
num_employees =
homepage =

Ira A. Watson Co., more commonly known as Watson's, was a department store chain based in Knoxville, Tennessee, United States. It was founded in 1907 and grew to several locations throughout the Southeastern United States before it was purchased in 1998 by Peebles.

History

Expanding from the original operation, the company opened a group of downtown stores in county seat towns. As shopping centers and malls developed, Watson's opened substantially larger stores in those locations. Operations grew from a single location in Knoxville, Tennessee to numerous locations in Alabama, Kentucky, Tennessee, Virginia, West Virginia, South Carolina, North Carolina, Missouri, Indiana, and Illinois. The merchandise was purchased and distributed to all of the Watson's stores from the centralized warehouse locatated in Knoxville, which was also home to the corporate office.

The company hit hard times in the late 1980s and eventually filed for Chapter 11 Bankruptcy in February 1992 when they were unable to renew bank financing. At the time of the filing, the company operated 31 stores in nine states. The courts approved a reorganization plan for the company to emerge from Chapter 11 in 6 years. Profitability improved and Watson's emerged from Chapter 11 in about half of the anticipated time. Even after emerging from bankruptcy, the company never fully recovered.

Watson's was purchased in June 1998 by Peebles, a then privately held retailer based in South Hill, Virginia; all Watson's stores were converted to Peebles a year later. The former Watson's Knoxville Distribution Center at 200 Hayfield Road continues to serve as one of two warehouses for the Peebles chain. Peebles was purchased by Houston Texas based Specialty Retailers in 2003.

Watson's Locations

All locations are currently operating as Peebles unless noted otherwise.

Alabama

*Cullman

Indiana

*Jasper - later Peebles, now closed
*Madison

Kansas

*Olathe

Kentucky

*Danville
*Glasgow
*Hazard
*Madisonville - now Big Lots
*Paintsville
*Pikeville
*South Williamson - South Side Mall
*Somerset
*Winchester

Missouri

*Crystal City

North Carolina

*Concord - later Peebles, now closed

outh Carolina

*Rock Hill - later Peebles, closed February 2005

Tennessee

*Elizabethton
*Knoxville:*Downtown - closed 1997:*West - closed early 1998
*Oak Ridge - later Peebles, now closed
*Tullahoma

Virginia

*Harrisonburg - Valley Mall - later Peebles, closed 2006
*Martinsville - Patrick Henry Mall
*Vansant
*Wise

West Virginia

*Fairmont-Middletown Mall, in former Grant's location,closed mid-1980's,replaced by Hess's
*Logan
*St. Albans - St. Albans Mall
*Welch - McDowell Street - closed early 1990s

External links

* [http://peebles.com/ Peebles Department Stores ]
* [http://stagestores.com Stage Stores ]