Vintage Woodward & Lothrop Department Store Gift Box 12x12x3” Washington DC

Description

Vintage Woodward & Lothrop Department Store Gift Box 12x12x3” White/Gold
Colors: White/Gold
Measures 12” x 12” x 3” Collapsible
Story History:
Woodward & Lothrop was a department store chain headquartered in Washington, D.C. Woodward & Lothrop was the capital's first department store, opening in 1887. Woodies, as it was often nicknamed, maintained stores in the Mid-Atlantic United States. Its flagship store was a fixture of Washington, D.C.'s downtown shopping district, with Garfinckel's.
Samuel Walter Woodward (1848 – August 2, 1917) and Alvin Mason Lothrop (1847–1912) opened a dry goods store in Chelsea, Massachusetts, in 1873, and maintained several stores in the Boston area. In partnership with Charles E. Cochrane, on February 8, 1880 they moved to Washington.
Woodies expanded into suburban shopping malls after World War II, but the owning families resisted expansion by amalgamation, and the chain grew slowly. It became a target of takeover attempts in the 1980s, resisting a leveraged buyout by Ronald Baron in February 1984 but accepting a 7 million bid later that year from Detroit shopping center mogul A. Alfred Taubman.
Woodward & Lothrop, Inc., filed for Chapter 11 bankruptcy protection on January 18, 1994. 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 rest plus the Wanamaker's locations were sold to May Department Stores Company.
By
November 1995
, all Woodies stores had completed liquidation sales and were permanently closed.
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