Broadway Southwest Commercial 1984

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 and national retailer in the 1970s and 1980s. The company was able to survive takeover attempts in 1984 and 1986, and also a Chapter 11 bankruptcy filing in 1991 by selling off most of its assets until August 1995 when its banks refusing to advance enough additional credit to pay off suppliers. At that point, the company sold itself to Federated Department Stores for $1.6 Billion with the acquisition being completed on October 12, 1995. The Broadway division was the largest department store division within the company. The division could trace its roots to the Broadway Department Store that was founded in Los Angeles by Arthur Letts, Sr. in 1896. By 1992, the division expanded throughout Southern California and started expanded outside of California. In 1979, the division was split into the Phoenix-based Broadway Southwest to handle the out-of-state stores and the Los Angeles-based Broadway Southern California to handle the stores within California. The two separate divisions were consolidated in 1992 after many of the non-Californian stores were closed. At the time of its parent acquisition by Federated, Broadway had 52 stores. https://en.wikipedia.org/wiki/Broadwa... 12 Action News KPNX-TV Phoenix, Mesa