Woodward & Lothrop [SEP] dissolved or abolished
of the Cold War, leading to a loss of consumer confidence.
Woodward & Lothrop, Inc., filed for Chapter 11 bankruptcy protection on January 18, 1994, with $608 million in total assets and $659 million in total liabilities. Drastic cost-cutting and increased sales figures did not return the firm to profitability, however, and the chain, including its John Wanamaker subsidiary, was liquidated. On June 21, 1995, seven of the remaining Woodward & Lothrop locations were sold to J. C. Penney and the
's in 1990)
- Woodward & Lothrop
- I. Magnin, owned by Federated 1965-1988 and R.H. Macy Co. 1988-1994; most stores closed 1988-1993, remainder of stores converted to Macy's West and Bullock's or sold to Saks Fifth Avenue. Union Square, San Francisco location eventually incorporated into adjacent Macy's.
- John Wanamaker or Wanamaker's (Philadelphia and New York City flagship stores), sold to Carter Hawley Hale in 1979, then Washington DC-based Woodward & Lothrop owned