In a move to create a strong department store brand to add to Pay 'n Saves roster of brands, the stores were all converted to the Lamonts name in 1970. The new chain was named for and by M. Lamont Bean, the head of Pay 'n Save Corp. at the time.
In an effort to create a strong department store brand, Pay 'n Saves's stores were rebranded as Lamonts in 1970. This was done by M. Lamont Bean, the head of Pay 'n Save Corp., who named the new chain after himself.