321:
303:, a competitor. The Belks quickly sold their stake as well, although Belk would later purchase the stores back as part of its later acquisition of the entire Proffitt's chain. When Proffitt's made an offer for the Leggett family's stake, which included 42 stores comprising about 20 percent of Belk's revenue, John and Tom Belk were forced to respond by forming a new company in 1996 that bought the Leggetts out. This move accelerated the slow trend of consolidating the store's ownership under the Belks.
1860:
396:
1871:
279:, the Belk company grew by investing in various partnerships with local merchandisers in nearby markets. Belk's growth out of the Southeast was pushed by Earl Jones Sr and the Belk-Jones brand that opened the first Belk west of the Mississippi in 1947. The Jones family and the Belk-Jones brand continued to grow Belk's westward expansion. This complex story is chronicled in a book published by Belk –
597:
236:
40:
536:
restructuring, Belk received $ 225 million of new capital, reduced its debt by approximately $ 450 million, and extended maturities on all term loans until July 2025. The plan received nearly unanimous support from existing lenders, supply providers, and landlords to be paid in full as normal operations continue at all store locations. as well as on Belk's e-commerce platform.
163:
1848:
383:
446:
287:
421:, Belk introduced the new logo, its first since 1967. The chain embarked on a $ 70 million marketing campaign that replaced the old slogan "All for You!" with a new slogan, "Modern. Southern. Style." Sixty stores got new signs in the first phase, with the remainder getting new signs throughout 2011. Advertisements for Belk & Co.
306:
In April 1997 Belk closed its smallest store located in the smallest town with a Belk—Chesterfield, South
Carolina—with a population of less than 1,500. In 1998, the company formed a new entity (Belk, Inc.) that merged the 112 remaining Belk companies, swapping the existing partners' local interests
482:
on its website, and those websites acquired and redirected to Belk.com. Home furnishings such as bedding, small kitchen appliances, crystal, dinnerware, and china have been offered for several years to online shoppers as a part of the chain's online bridal and gift registry. The chain revamped its
428:
By 2014, the chain operated 293 stores in 16 states, generating $ 4 billion in sales in 2014. The state of North
Carolina leads in the number of Belk stores with 65 stores followed by Georgia and South Carolina with 45 and 35 stores respectively. Its typical store covers 100,000 to 180,000 square
298:
This structure allowed Belk to expand quickly and permitted local variation, but resulted in a diluted brand identity since most stores were co-branded. By the 1990s, the system had become increasingly untenable: stores were held by over 350 separate legal entities, Belk family members disagreed
519:
On
January 26, 2021, it was announced that Belk would file for Chapter 11 bankruptcy, continuing to operate normally through the bankruptcy process, which Sycamore expected to exit by the end of February 2021. Sycamore would retain majority control of Belk, while private equity firms KKR and
564:
of the Belk Board of
Directors. It was not disclosed what prompted the leadership change. Along with the CEO change, Belk also announced that Don Hendricks will be promoted from Chief Operating Officer to president. The company also hired Chris Kolbe as EVP, Chief Merchandising Officer.
531:
to cede a large stake in the company to its lenders while maintaining control of the company. If the bankruptcy plan were approved it would give Belk new capital while cutting its debt load by about $ 450 million, reducing its total debt to about $ 1.46 billion, according to the company.
535:
On
February 24, 2021, just one day after filing for Chapter 11 Bankruptcy the company announced that it had successfully completed its financial restructuring, finalizing an expedited pre-packaged, one-day reorganization and emerging well-positioned for long-term growth. As part of the
651:, houses a flagship store built in 1997 as a Parisian store and one of the lifestyle center's original anchors. Its intended conversion to a Belk flagship was announced on April 25, 2007, with the reorganization complete by September 2007. It had been Parisian's flagship store.
267:
By 1909, the company had moved its headquarters to
Charlotte and built a huge flagship store on Trade and Tryon Streets in downtown Charlotte, which would remain the company's headquarters until it was closed in 1988 to make way for the construction of what is now
661:, where Hudson Belk built an elaborate 236,000-square-foot (21,900 m) store in 1972 (subsequently expanded to 305,000 square feet (28,300 m) in 2007, with separate locations for menswear and in-mall cosmetics counters) in North Carolina's high-tech
611:
The chain has multiple "flagship" locations—larger locations in urban and metropolitan centers, and a wider array of merchandise and services including in-store salons. As of 2014, the chain claimed 18 flagship locations, and plans to upgrade more locations.
494:
out of bankruptcy. Under the terms of the plan, two hundred fifty JCPenney stores would have been rebranded as Belk in an effort to compete directly with Macy's, while the remaining JCPenney stores would be liquidated. JCPenney was ultimately acquired by
1336:
520:
Blackstone would receive a minority stake in the company following its emergence from bankruptcy. The plan would liquidate about $ 450 million of debt and raise $ 225 million in new capital, with no employee layoffs or store closures anticipated.
515:
and other major lenders were in talks with Belk to prevent the chain from declaring bankruptcy, having proposed a deal under which a portion of Belk's $ 2.6 billion debt would be converted to equity and
Sycamore would retain an ownership stake.
299:
about whether to maintain or sweep away the structure, and some local partners threatened stability by selling their stakes. For example, the heirs of John G. Parks, majority owners of the Parks-Belk chain, sold their interests to
679:
anchor location adding 50,000-square-foot (4,600 m) to the already over 150,000-square-foot (14,000 m) store in 2015, creating separate location for men's wear department, in one of South
Carolinas biggest
588:(SEC). On November 20, 2019, Belk announced that it would no longer be the title sponsor for the bowl game following the 2019 playing. Overall, Belk was the title sponsor for nine editions of the bowl (2011–2019).
475:(which is another Sycamore Partners-owned company), would replace Tim Belk as CEO of Belk. This would be the first time since the founding of the company that a non-Belk family member would head the company.
311:
locations in exchange for nine of theirs so that each could build on regional strengths. Slowly, Belk eliminated the dual brands, completing the process with a chain-wide Belk rebranding in the fall of 2010.
623:, houses the chain's largest store, with more than 336,414 square feet (31,253.9 m). The store was built in 1970 as one of the mall's original anchor stores. The mall was co-developed by the Belk and
1675:
1936:
1455:
344:
department stores from Saks on
October 2, 2006. Although most Parisian stores were downgraded to the Belk nameplate since September 12, 2007, some duplicate Parisian stores were closed, as at
1926:
690:, opened in September 2016, a 237,000-square-foot (22,000 m) that replaced a former Sears. In order to do that, Belk closed two stores that were across from each other: the former
1359:"Belk Successfully Completes Pre-Packaged, One-Day Financial Restructuring with Backing of Majority Owner Sycamore Partners and Lenders Including KKR Credit and Blackstone Credit"
1337:"Belk Successfully Completes Pre-Packaged, One-Day Financial Restructuring with Backing of Majority Owner Sycamore Partners and Lenders Including KKR Credit and Blackstone Credit"
340:, primarily in Tennessee and Mississippi. Belk downgraded the 39 Proffitt's and McRae's stores to the Belk nameplate on March 8, 2006. Just over a year later, Belk purchased 38
1896:
1901:
1030:
487:
for a ladies apparel and accessories collection which debuted in fall 2008 in 125 store locations and online. However, that product line was discontinued in late 2009.
1911:
1906:
1875:
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1921:
1916:
1827:
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307:
for shares in the combined entity; for example, the Hudson family in
Raleigh received almost 5% of the shares. The same year, Belk made a deal to acquire seven
1459:
222:, with nearly 300 locations in 16 states. Belk stores and Belk.com offer apparel, shoes, accessories, cosmetics, home furnishings, and a wedding registry.
937:
580:
beginning in 2011. The sponsorship would continue for three years. On July 18, 2013, Belk announced a six-year extension of the bowl partnership with the
1941:
616:
418:
371:
During the fourth quarter of 2005, Belk completed the sale of its private-label credit card division, Belk National Bank, to GE MoneyBank, a division of
1165:
357:
568:
In May 2023, it was reported that Belk was expanding a new store format, Belk Outlet. There were 16 locations, 10 of which had just recently opened.
375:. Consumers were issued new Belk credit cards replacing the old ones issued by BNB. All new Belk cards are now issued by GE MoneyBank, now known as
324:
One of the earliest prototype 1960s-era stores to feature the trademark Belk arches, Southgate Mall, Elizabeth City, North Carolina, as shown in 2015
320:
576:
In December 2010, Belk announced that it would become the title sponsor for the former Meineke Car Care Bowl (played in Charlotte), renamed as the
1408:
368:. Integrating the larger, more upscale Parisian stores proved a challenge for Belk, and spurred the creation of the company's flagship strategy.
1139:
1931:
1507:
1481:
464:
On August 24, 2015, Belk announced that it had entered into a definitive merger agreement to be acquired by New York–based private equity firm
272:. The business grew steadily, relying on "bargain sales" and advertising to grow the business and increase its influence throughout the South.
1311:
1633:
1112:
1188:
1668:
1430:
1214:
1533:
490:
In July 2020, it was announced that Sycamore Partners had made a $ 1.75 billion offer to acquire department store chain and competitor
483:
website and registry on September 15, 2008. Celebrity-branded product lines are another pursuit, including a partnership with actress
364:. Four Parisian stores in Indiana, Michigan, and Ohio, plus a store under construction at the time in Michigan, were sold by Belk to
1237:
461:
On April 3, 2015, news reports revealed that Belk was exploring "strategic alternatives," including a possible sale of the company.
341:
255:, after Belk made his brother, physician John Belk, his partner. Belk bought in volume to pass savings on and sold at fixed prices,
918:
1817:
1166:"Private-equity firm Sycamore poised to buy J.C. Penney, merge it with North Carolina chain Belks; Penney brand likely to vanish"
269:
637:, houses a flagship store, made official after a recent renovation brings it up to par with the mall's rival lifestyle center,
1040:
349:
1001:
1812:
1358:
1746:
496:
1581:
691:
553:
549:
1063:
772:
820:
1606:
960:
454:
1189:"The New York Times: J.C. Penney to sell retail business to Simon Property Group and Brookfield Property Partners"
620:
601:
581:
434:
291:
118:
941:
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873:
672:
896:
24:
1404:
658:
644:
638:
585:
557:
545:
512:
345:
142:
1215:"Belk's top lenders, including KKR, looking to avoid taking department store through bankruptcy, WSJ says"
1035:
1006:
683:
276:
244:
219:
99:
67:
1381:
1288:
430:
20:
955:
386:
Former Belk logo used from 1968 to 2010. The "All for you!" slogan was used from the late 1990s onward.
1090:
1864:
1802:
654:
500:
1582:"Store openings, construction, negotiations on summer agenda at Bridge Street Town Centre (photos)"
715:
648:
630:
605:
479:
372:
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790:
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1711:
668:
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528:
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353:
337:
177:
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1706:
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584:(ACC), beginning in 2014. Under the agreement, the bowl featured teams from the ACC and the
256:
215:
1607:"Belk plans makeover for Riverchase Galleria store, other new investments across the chain"
724:
1781:
719:
699:
687:
634:
404:
400:
1653:
1263:"After nearly 190 years, department store chain Belk will file for Chapter 11 bankruptcy"
750:
922:
395:
1807:
376:
361:
1890:
1756:
1555:
1382:"Belk bankruptcy plan approved by judge. Iconic retailer gets the lifeline it sought"
484:
329:
300:
523:
On February 23, 2021, it was announced that Belk had filed Chapter 11 bankruptcy in
429:
feet. 50% of its stores are in regional malls, another 40% in open-air community or
1832:
1405:"Belk names new CEO months after the iconic department store chain left bankruptcy"
450:
1721:
846:
596:
471:
On June 29, 2016, Belk announced that effective as of July 5, Lisa Harper, CEO of
308:
153:
Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.
1716:
1289:"Belk files Chapter 11 bankruptcy in Houston, giving the retail icon a lifeline"
1238:"Belk to file bankruptcy. Retailer, hit hard by pandemic and debt, to stay open"
561:
675:, is home to one of Belk flagship stores, where Belk expanded into the former
235:
695:
478:
Even as Belk has made its recent acquisitions, the chain has operated limited
333:
975:
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577:
472:
39:
1751:
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624:
382:
776:
1786:
1736:
824:
773:"Belk Inc (Belk, Inc) - Charlotte, North Carolina (NC) | Company Profile"
491:
1140:"Tim Belk To Step Down As Belk CEO, Hot Topic's Lisa Harper To Step In"
527:, the first step in an organization plan that would allow Belk's owner
524:
445:
422:
365:
286:
77:
544:
On July 6, 2021, Belk announced that Nir Patel has been promoted to
797:. N.C. Department of Natural & Cultural Resources. May 29, 2016
1776:
676:
444:
394:
381:
319:
285:
234:
1508:"Belk out as sponsor of college football bowl game in Charlotte"
1482:"Belk out as sponsor of college football bowl game in Charlotte"
1241:
417:
reported that Belk planned to update its logo. On October 12 at
1657:
166:
1236:
Weinstein, Austin; Muccigrosso, Catherine (January 26, 2021).
1431:"Belk bulks up with more stores under its new outlet format"
728:
1312:"Sycamore's Belk Files Bankruptcy to Tame Debt, Raise Cash"
1634:"Belk plans $ 6.1M investment in Columbia flagship store"
712:
556:. Patel replaces Lisa Harper who has been the company's
198:
239:
The first Belk, established as New York Racket, in 1902
1937:
Companies that filed for Chapter 11 bankruptcy in 2021
1113:"Sycamore Partners Completes Acquisition Of Belk, Inc"
468:. The acquisition was completed on December 10, 2015.
281:
Belk, Inc.: The Company and the Family That Built It
1795:
1689:
328:On July 5, 2005, Belk completed the purchase of 47
275:Beginning in 1921 with the Leggett Bros. stores of
193:
183:
173:
157:
149:
135:
125:
114:
106:
83:
73:
63:
46:
243:Belk was founded in 1888 by William Henry Belk in
1927:Privately held companies based in North Carolina
1876:Category: Department stores of the United States
745:
743:
247:, outside Charlotte. The store was first called
1091:"Belk exploring possibility of selling company"
218:chain founded in 1888 by William Henry Belk in
1002:"NC-based Belk department stores get new logo"
1669:
425:continue to use a variation of the old logo.
8:
1897:Companies based in Charlotte, North Carolina
32:
1310:Ronalds-Hannon, Eliza (February 23, 2021).
1064:"Form 10-K Annual Report, Fiscal Year 2014"
511:On January 20, 2021, it was announced that
1676:
1662:
1654:
897:"Hudson role appears vital to Belk future"
38:
31:
1902:Economy of the Southeastern United States
956:"Belk to sell credit-card business to GE"
352:(then known as Midtown at Forest Acres),
1031:"Belk unveils its new logo at SouthPark"
940:. No. November 2008. Archived from
814:
812:
595:
1409:The Herald-Sun (Durham, North Carolina)
1070:. US Securities and Exchange Commission
874:"Belk making small moves to fight foes"
739:
560:since July 2016, but will now serve as
1912:American companies established in 1888
1907:Department stores of the United States
1684:Department stores in the United States
1138:Butler-Young, Sheena (June 29, 2016).
895:Mildenberg, David (January 12, 1998).
283:– about the evolution of the company.
1922:1888 establishments in North Carolina
1632:Thomas, Jennifer (January 24, 2014).
1534:"Belk opens flagship store in Dallas"
7:
1917:Retail companies established in 1888
1506:Spanberg, Erik (November 20, 2019).
1187:Ayers, Rebecca (September 9, 2020).
1089:Peralta, Katherine (April 2, 2015).
1164:Fickenscher, Lisa (July 28, 2020).
1029:Valle, Kirsten (October 12, 2010).
1532:Thomas, Jennifer (April 9, 2014).
1213:Thomas, Laura (January 20, 2021).
795:This Day in North Carolina History
257:then a relatively unusual practice
14:
1942:Kohlberg Kravis Roberts companies
694:store in the mall and the former
356:in Columbia, South Carolina, and
1870:
1869:
1858:
1846:
1429:Marks, Jennifer (May 18, 2023).
698:across the street in the former
441:Acquisition by Sycamore Partners
270:Bank of America Corporate Center
162:
161:
872:Bull, Becky (October 7, 1996).
819:Womick, Chip (December 2010).
548:from his previous position of
1:
1932:2015 mergers and acquisitions
1556:"Customer Service - Belk.com"
1636:. Charlotte Business Journal
1580:Lucy Berry (June 29, 2013).
1536:. Charlotte Business Journal
876:. Charlotte Business Journal
497:Brookfield Property Partners
899:. Triangle Business Journal
823:. Our State. Archived from
554:chief merchandising officer
346:The Mall at Barnes Crossing
53:New York Racket (1888–1898)
1960:
961:Charlotte Business Journal
938:"What's in store for Belk"
455:Greenville, South Carolina
18:
1841:
791:"Belk's Rooted in Monroe"
621:Charlotte, North Carolina
602:Bridge Street Town Centre
582:Atlantic Coast Conference
292:Charlotte, North Carolina
119:Charlotte, North Carolina
89: (136 years ago)
56:Belk Brothers (1898–1909)
37:
1865:United States portal
1403:Muccigrosso, Catherine.
1384:. The Charlotte Observer
1291:. The Charlotte Observer
673:Columbia, South Carolina
507:2021: One-day bankruptcy
411:On October 3, 2010, the
348:in Tupelo, Mississippi,
659:Raleigh, North Carolina
586:Southeastern Conference
366:The Bon-Ton Stores, Inc
336:department stores from
1036:The Charlotte Observer
1007:The Charlotte Observer
919:"Kingsport Times-News"
821:"Main Street Merchant"
779:on September 19, 2010.
718:March 4, 2020, at the
684:The Shoppes at Bel Air
608:
458:
433:, and 10% in open-air
408:
387:
325:
295:
277:South Boston, Virginia
245:Monroe, North Carolina
240:
220:Monroe, North Carolina
100:Monroe, North Carolina
599:
448:
398:
385:
323:
289:
238:
169:3.7 billion (FY 2017)
25:Bełk (disambiguation)
21:Belk (disambiguation)
16:American retail chain
1853:Companies portal
1803:Associated Dry Goods
1560:Belk Salons and Spas
1462:on December 18, 2013
1093:. Charlotte Observer
964:. November 21, 2005.
655:Crabtree Valley Mall
600:A flagship store at
501:Simon Property Group
290:Belk Bros. store in
19:For other uses, see
1486:www.bizjournals.com
1435:Home Textiles Today
1380:Weinstein, Austin.
1287:Weinstein, Austin.
1193:www.bizjournals.com
944:on January 3, 2015.
729:UNCC Atkins Library
649:Birmingham, Alabama
631:Riverchase Galleria
606:Huntsville, Alabama
480:electronic commerce
414:News & Observer
373:GE Consumer Finance
185:Number of employees
127:Number of locations
34:
725:John M Belk Papers
609:
592:Flagship locations
459:
409:
388:
326:
296:
241:
110:William Henry Belk
1884:
1883:
1818:Georg Jensen Inc.
1772:Saks Fifth Avenue
1767:Reynolds Brothers
1010:. October 3, 2010
982:. January 1, 1970
976:"View All Stores"
925:on March 3, 2016.
853:. January 1, 1970
751:"Store Directory"
669:Columbiana Centre
663:Research Triangle
529:Sycamore Partners
466:Sycamore Partners
435:lifestyle centers
354:Columbiana Centre
338:Saks Incorporated
209:
208:
178:Sycamore Partners
1949:
1873:
1872:
1863:
1862:
1861:
1851:
1850:
1849:
1707:Bergdorf Goodman
1697:Bealls (Florida)
1678:
1671:
1664:
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1641:
1629:
1623:
1622:
1620:
1618:
1613:. March 11, 2013
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1497:
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1471:
1469:
1467:
1458:. Archived from
1452:
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1426:
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1144:Footwearnews.com
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1080:
1079:
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1059:
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1050:
1048:
1039:. Archived from
1026:
1020:
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998:
992:
991:
989:
987:
972:
966:
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952:
946:
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921:. Archived from
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886:
885:
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869:
863:
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858:
843:
837:
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832:
827:on April 2, 2015
816:
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804:
802:
787:
781:
780:
775:. Archived from
769:
763:
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758:
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216:department store
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1782:Stanley Korshak
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1362:
1361:. Yahoo Finance
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1119:(Press release)
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1043:on July 8, 2011
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688:Mobile, Alabama
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401:Mall of Georgia
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1833:Stage Stores
1828:Palais Royal
1701:
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1460:the original
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610:
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572:Sponsorships
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451:Haywood Mall
431:retail parks
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370:
358:Citadel Mall
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211:
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115:Headquarters
64:Company type
29:
1617:October 27,
1591:October 27,
1512:bizjournals
1466:December 5,
1456:"Belk Bowl"
1272:January 27,
1247:January 27,
1221:January 22,
1062:Belk, Inc.
1047:October 13,
1014:October 15,
986:October 27,
857:October 27,
1891:Categories
1813:Century 21
1172:August 18,
757:August 18,
735:References
645:The Summit
639:The Summit
540:New Growth
330:Proffitt's
301:Proffitt's
212:Belk, Inc.
137:Key people
131:293 (2019)
33:Belk, Inc.
1762:Nordstrom
1727:Gus Mayer
1722:Dillard's
1540:March 29,
1517:March 24,
1316:Bloomberg
1267:USA Today
1074:March 29,
903:March 29,
880:March 29,
847:"History"
831:March 29,
713:Belk Bowl
627:families.
578:Belk Bowl
550:president
503:instead.
473:Hot Topic
309:Dillard's
294:, c. 1910
251:and then
1787:Von Maur
1737:JCPenney
1717:Boscov's
1565:April 4,
1149:July 26,
1097:April 3,
980:Belk.com
851:Belk.com
727: :
716:Archived
707:See also
692:Parisian
492:JCPenney
342:Parisian
150:Products
74:Industry
47:Formerly
1823:Goody's
1796:Defunct
1690:Current
1640:June 5,
1414:July 7,
1068:Sec.gov
801:May 29,
696:McRae's
525:Houston
423:jewelry
334:McRae's
226:History
194:Website
158:Revenue
107:Founder
92: (
84:Founded
68:Private
1874:
1752:Macy's
1747:Loeb's
1742:Kohl's
1611:AL.com
1586:AL.com
1339:. Belk
1217:. CNBC
753:. belk
680:malls.
457:(2016)
407:(2019)
78:Retail
1777:Sears
1732:Halls
686:, in
677:Sears
647:, in
633:, in
619:, in
391:2010s
316:2000s
263:1900s
201:.belk
174:Owner
1702:Belk
1642:2020
1619:2016
1593:2016
1567:2015
1542:2015
1519:2021
1493:2019
1468:2013
1442:2024
1416:2021
1390:2021
1367:2021
1345:2021
1323:2021
1297:2021
1274:2021
1249:2021
1242:WBTV
1223:2021
1200:2020
1174:2020
1151:2016
1125:2015
1099:2015
1076:2015
1049:2010
1016:2010
988:2016
905:2015
882:2015
859:2016
833:2015
803:2019
759:2020
625:Ivey
552:and
499:and
332:and
203:.com
167:US$
94:1888
87:1888
23:and
671:in
657:in
604:in
558:CEO
546:CEO
513:KKR
453:in
403:in
199:www
143:CEO
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