McCrory Stores his last name so he would not have to pay for extra letters on his store signs. McCrory died in 1923 having built McCrory Stores Corporation into a success. However, in 1933 the company declared bankruptcy and was dissolved, but it was eventually re-established as McCrory Stores and resumed operations. One of the early investors was Sebastian Spering Kresge, who later founded the S.S. Kresge chain, which became Kmart. In 1899, Kresge traded his interest in the McCrory's Memphis, Tennessee store for McCrory's interest in the Detroit, Michigan, store, giving him control there. In 1987, the Kmart Corporation sold its
Chase-Newark Chase-Newark Chase-Newark was a short lived, upper middle-market Department Store based in Newark, New Jersey. The company also operated 2 suburban stores during its three-year history. Chase-Newark was founded early in 1964 when David Chase purchased the Kresge-Newark Department stores from the Kresge Foundation, and leased back 5 floors of the downtown Newark location [1]. When Sebastian Kresge (the founder of Kresge-Newark) died a foundation was set up to run the stores that bore his name. David Chase could have used the Kresge name but instead re-branded the stores Chase-Newark, as he planned to refocus the stores to be (like