CSS Industries

City Stores Company, 1923–1985

City Stores was a holding company, incorporated in the state of Delaware, that owned directly or indirectly all or a substantial majority of the stocks of several department and specialty stores in six states. It eventually controlled 39 stores in 19 states. The stores were serviced by a New York resident buying corporation, City Stores Mercantile

Company, Inc., a subsidiary wholly owned by City Stores. In the 1950s, City Stores merged with Specialty Stores Co becoming City Specialty Stores.

City Stores started in 1923 with the acquisition of three department stores: B. Lowenstein, Inc., of Memphis, Tennessee; Maison Blanche Co., of New Orleans, Louisiana; and Loveman, Joseph & Loeb, of Birmingham, Alabama. The following year City Stores purchased Kaufman-Straus Co. of Louisville, Kentucky. In 1928, the company acquired a majority interest in Lit Brothers of Philadelphia, Pennsylvania, later merging it into City Stores' operations in 1951. After going into receivership in 1931, City Stores Company could no longer meet its financial obligation to Bankers Securities Corporation (B.S.C.), the owner of Lit Brothers. Albert M. Greenfield was then appointed as chairman of the board, a position he would hold for over 20 years.

In 1944, City Stores acquired control of R.H. White, a Boston, Massachusetts, department store. In 1946, the company acquired Richards of Miami, Florida. City Stores purchased a majority interest in two New York based women's specialty clothing stores, Oppenheim, Collins & Co. in 1945 and Franklin Simon & Co. in 1949. The two companies were later merged as Franklin Simon & Co. The company expanded its holdings of department stores with the acquisition in 1948, of Wise, Smith & Co. of Hartford, Connecticut, and Lansburgh's of Washington, D.C., in 1951.

In 1961, City Stores acquired the W. & J. Sloane chain of 30 furniture stores in California, New York, Connecticut, New Jersey, and other states along the east coast. W. & J. Sloane purchased a 280,000-square-foot (26,000 m2) building at a prime location on Fifth Avenue in New York City from Franklin Simon. In 1966, City Stores acquired Wolf & Dessauer Co. of Fort Wayne, Indiana, but sold the company in 1969, along with Kaufman-Straus to L. S. Ayres.

The 1970s brought the company a large decline in sales and the need to liquidate assets. The company discontinued operations at Lansburgh's in 1973, and Lit Brothers in 1977. After several years of low profits or net losses, City Stores filed for Chapter 11 bankruptcy in July 1979. Under the reorganization plan, City Stores closed 42 Franklin Simon & Co. stores, Hearns Department Store, and the eight Richards stores. In 1980, Loveman, Joseph & Loeb and R.H. White department stores closed and B. Lowenstein Bros. stores were consolidated with Maison Blanche.

City Stores was dismantled completely through the bankruptcy process after acquisition by Philadelphia Industries Inc. (PII). Jack Farber, president of PII, became chairman of City Stores and was elected CEO in February 1980. Farber closed or discontinued the remaining department store operations in 1982, and by 1985 liquidated the remaining assets of W. & J. Sloane.

CSS Industries, Inc. 1985–present

CSS Industries was established by Farber in 1985, with a new name to reflect a diversified strategy. CSS completed its first acquisition in January 1985 with the purchase of Rapidforms, Inc. of Thorofare, New Jersey. designed and manufactured a variety of business forms. It was sold in December 1997. In 1986, CSS acquired Ellisco Co., a manufacturer of metal containers in standard and customized formats. Ellisco's manufacturing locations included sites in Pennsylvania, Maryland, Ohio, and West Virginia. CSS sold the subsidiary to U.S. Can in 1994..