What happened to Gemco

[GaryED44]

Hi

I've always been somewhat unclear what actually happened to Gemco I know they were on somewhat shaky financial ground their last years but the speed which they vanished left me wondering what happened.

Does anyone know?

Gary

[Groceteria]

http://www.groceteria.com/lucky/index.html:

Lucky also operated a chain of department stores called Gemco throughout the 1960s and 1970s, Memco (a Gemco clone on the east coast which was liquidated in 1983), Hancock Fabrics, and Grand Auto Supply at various periods during the 1970s. In reaction to a 1986 hostile takeover bid by Asher Edelman, Gemco and the specialty stores were sold or closed. Most of California's Gemco stores were sold to Target, giving the discounter ts first foothold in California; many of these stores are still operating as Target branches today.

[J-Mac]

What happened to Gemco is an interesting story in that Gemco itself was not a failed store concept when it was taken out of business, but rather a closing and sell-off to avoid a leveraged buyout of its parent company - Lucky Stores. There were some problems with slumping sales at Gemco in the early 80s, but the general economy wasn't all that great at that point either. The company was actually growing at the time of closing, new computer systems being installed, new stores being built and remodelings taking place, in part to spur sales. The cash to thwart the LBO was needed at the moment, and I'm not sure anyone wanted to buy the chain intact as it was (I don't know this, speculation on my part.)

Some would say "too bad." After all, the Gemco-sized stores in a hypermarket format were really leaders in the concept - years ahead of competition in the region. In fact, today's majors (Super Target, Walmart Supercenter) have yet to seriously penetrate Southern California.

Dayton-Hudson (Target Stores) purchased the largest chunk of Gemco real estate and began reopening stores a year later (in part to avoid unionized labor.)

There are some good links out there... Try:

http://en.wikipedia.org/wiki/Gemco/
http://www.royhooper.com/gemco.htm
http://www.groceteria.com/lucky

Some relics of the chain still exist, 20 years after closing:

A former Gemco free-standing sign from Downey, CA.
For a larger image, see: http://home.earthlink.net/~it345/gemcotripod-2.jpg

[dth1971]

The Wikipedia Gemco entry even shows a Memco logo!

[Dean]

http://en.wikipedia.org/wiki/Gemco/
http://www.royhooper.com/gemco.htm
http://www.groceteria.com/lucky

Some relics of the chain still exist, 20 years after closing:

A former Gemco free-standing sign from Downey, CA.
For a larger image, see: http://home.earthlink.net/~it345/gemcotripod-2.jpg

Is this Downey site off the 605? Vacant, correct?

The Rowland Heights CA GEMCO was on Nogales. It was barely open, and then became an Asian 99 Ranch Market. Still is today.

The Duarte CA GEMCO (off the 210). It was barely open, and then became TARGET. Still is today.

[J-Mac]

Is this Downey site off the 605? Vacant, correct?

The Rowland Heights CA GEMCO was on Nogales. It was barely open, and then became an Asian 99 Ranch Market. Still is today.

The Duarte CA GEMCO (off the 210). It was barely open, and then became TARGET. Still is today.

See my new thread about the Downey site on the Commercial Archaeology Forum: http://www.groceteria.com/board/viewtopic.php?t=1046

The site is no longer vacant, and I have pictures.

[GaryED44]

Thanks Guys

That cleared up a lot.

Gary