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United Drapery Stores

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United Drapery Stores (UDS)
Company typePrivate
IndustryRetail
Founded1927
Defunct1983
FateDormant company
SuccessorHanson plc / Allders
HeadquartersLondon, UK
Key people
Sir Arthur Wheeler, 1st Baronet
Joseph Collier
Jack Lyons
Bernard Lyons
ProductsRetailers
SubsidiariesAllders
Richard Shops
John Collier
William Timpson
Whiteleys
Arding & Hobbs

United Drapery Stores, or UDS, was a British retail group that dominated the British high street from the 1950s to the early 1980s.

Early history

[edit]

In 1925, Charterhouse Bank set up Charterhouse Investment Trust.[1] The trust started buying up department stores: Hinds & Co, John Blundell, Shinners, S. Young & Son and Hawes Brothers, as well as retailers Walker & Penistans and Joseph Carton and Co,[2] in the London suburbs under the stewardship of Charterhouse chairman Sir Arthur Wheeler, 1st Baronet.[3][4] In 1927, the trust floated United Drapery Stores as the holding company for these businesses.[5][6] In 1928, Henry Glave, a department store in New Oxford Street acquired the business under the management of Sir Arthur Wheeler, 1st Baronet, who had recently resigned from Charterhouse.[7][8][9][10][4] The company in 1930 reported profits of £102,413.[11] By 1931, this had grown to 112 retail outlets, however Wheeler was declared bankrupt and Martin Price of Viney, Price and Goodyear were instructed to resolve the affairs of Henry Glave, with United Drapery Stores sold to help pay Wheeler's debts.[12][13] It had transpired that funds from United Drapery Stores had been moved to M.I.G. Trust, a company used in connection with Wheeler's investments.[14] The business was purchased by Eagle Star Insurance Company.[13] In 1932, it acquired the business of Stewart's Clothiers Ltd, bringing its number of outlets to 232.[15] Control of the John Anstee group of large drapery outlets and department stores, including Arding & Hobbs in Battersea and Owles & Beaumont, drapers in Brompton Road[16] London, was secured in 1948.[17] They purchased the Richard Shops chain of ladieswear stores in 1949 from Charles Clore for £800,000.[18][19] A further thirty-seven shops were added to the business in 1950 when it took over the Scottish clothes chain Claude Alexander,[20] while Reading department store Heelas was bought from Charles Clore, but sold three years later to the John Lewis Partnership.[21] 1953 saw its biggest expansion through the acquisition of Prices Tailors Limited, a Leeds multiple tailoring firm. Prices had been founded in 1907 by Henry Price, and traded under the Fifty Shilling Tailors brand, with 404 stores and 12 factories across the country.[22] After the takeover by UDS, the chain was gradually renamed John Collier.[20]

Later acquisitions

[edit]

In 1954 UDS acquired Alexandre Limited, a Leeds-based multiple tailor with over 88 stores owned by Bernard[23] and Jack Lyons and their families.[24][25] Joseph Collier, the United Drapery Stores chairman, was struggling to turn around Prices Tailors and saw the Lyons as the men to turn it around.[26] Bernard Lyons took control of the menswear operations and later became group chairman and chief executive, while Jack moved to London and took on a variety of group roles. A notable takeover by the UDS group came in 1958 when Joseph Collier negotiated a takeover of the Allders department store in Croydon,[27] followed by Newcastle upon Tyne department store John Farnon.[28] The Lyons would eventually start to rebrand United Drapery Stores department store businesses under the Allders name during the 1970s and 80s.[29]

In 1959 the business failed in a takeover of rival department store group Harrods, rivalling Debenhams and eventual winner House of Fraser, after Joseph Collier sold the shares owned by United Drapery Stores to Hugh Fraser.[30][31] UDS continued the policy of expansion through acquisitions, purchasing Cardiff department store Mackross and Alexander Sloan, an Irish clothing and household retailer in 1959, Portsmouth department store Landport Drapery Bazaar in 1960,[27] credit drapers Lawsons[32] and the Worldwide and Atlas Agency mail order businesses in 1965,[33] with the twenty-seven shops of Brooks Brothers joining the forty-five stores of the Peter Pell clothing chain in 1967.[20] It was reported that in 1966 alone UDS sold over 1,119,000 men's suits in Britain,[23] making it one of the biggest clothing retailers in Britain at that time, rivalled only by the likes of Burtons and Hepworths.[34]

Whiteleys of Bayswater, the now struggling giant department store, was purchased in 1961.[35] In 1968, United Drapery Stores asked Joseph Kaplan from London and County Securities Group to manage the bank they inherited when purchasing Whiteleys, which saw branches opened in other department stores.[36] The fur and leather retailer Swears and Wells was added to the business in 1969.[37] The mail order catalogue business of John Myers was purchased in 1971,[38] however they were beaten by Great Universal Stores to A & S Henry & Co group, owners of mail order catalogue John Noble in 1971.[39] In 1972, UDS made an offer to purchase Debenhams, along with interest from Sears plc and Tesco, but were fought off by chairman Sir Anthony Burney.[40][41] Although its bid for Debenhams failed, the company purchased Telstar Colour Television and footwear retailer John Farmer in 1972.[42] In 1973, the business officially changed its name from United Drapery Stores to UDS and acquired the shoe repair business of Timpson for £28.6 million.[43][44] However the company was dragged into the collapse of London and County Securities bank in the same year.[45] In 1975 the company's subsidiaries were:[46]

  • Alexandre (menswear)
  • Alexander Sloan, Dublin (clothing and household goods)[47]
  • John Blundell (department stores / credit drapers)
  • Claude Alexander (menswear)
  • John Collier Tailoring (menswear)
  • The Household Supplies Co
  • James Grant (furniture retailer)[48]
  • Lawsons (credit drapers)
  • Ocean Trading Group (shipping company)[49]
  • Richard Shops (ladieswear)
  • Masters Stores
  • Swears and Wells (fur retailer)
  • John Myers Group (mail order catalogue)[50]
  • Telstar Colour-vision (TV Rental)
  • John Farmer (footwear retailer)
  • William Timpson (footwear retailer)
  • Grange (furniture retailer)
  • Allders (department store)
  • Arding & Hobbs (department store)
  • John Banner (department store)
  • John Farnon (department store)
  • Gorringes (department store)
  • Hawes Brothers (department store)
  • Hinds (department store)
  • Hurst & Sandler (department stores)
  • Landports (department store)
  • Lingards (department store)
  • Mackross (department store)
  • Medhursts (department store)
  • James Page (department store)
  • Shinners (department store)
  • Whiteleys (department store)
  • Youngs (department store)

Final days

[edit]

However, for the UDS menswear business the main rival was the Burton Group, and there were several attempts by UDS to take over Burton's, most notably in 1967. This attempt was blocked by the British Government's Monopolies and Mergers Commission as being against the public interest.[34] At this time UDS had £24.5 million of sales, compared to Burton's £47 million, and 584 menswear stores including:[51]

  • 51 Brook Brothers
  • 52 Peter Pell
  • 25 Claude Alexander

However by 1980, the business was starting to struggle with the growing diversification of the business, large amounts of borrowing, high interest rates and inflation and falling sales.[52] The Alexandre and Claude Alexander stores were rebranded under the John Collier chain, with a loss of 100 stores and 500 jobs.[53] The credit operations were sold to Citibank,[52] John Myers was sold to Great Universal Stores[54] while plans were made to sell John Collier to Burtons, although a management buyout was attempted but rebuffed.[55]

In 1983 the group was acquired after a takeover battle by Hanson Trust, beating Gerald Ronson's Heron International[56] with a bid of £264 million and was largely broken up. John Collier was sold to the management in a £47.5 million buyout in September 1983,[57] (before being sold onto the Burton Group in 1985).[58] Richard Shops was sold to Sir Terence Conran's Habitat Mothercare Group plc after a failed management buyout.[55][59] Along with the sales of William Timpson and Orbit, the total return of £152 million was raised.[45]

References

[edit]
  1. ^ Dennett. Laurie (1979). The Charterhouse Group, 1925-1979: A History.
  2. ^ The Times. 27 May 1927. {{cite news}}: Missing or empty |title= (help)
  3. ^ Corina, Maurice (1978). Fine Silks and Oak Counters: Debenhams, 1778-1978. p. 94. ISBN 9780091349103.
  4. ^ a b "Retail". The Producer: With which is Incorporated "The Consumer.". Vol. 15–16. 1932.
  5. ^ Daily Consular and Trade Reports. 9 January 1928. p. 81.
  6. ^ Swinson. C (2019). Share Trading, Fraud and the Crash of 1929: A Biography of Clarence Hatry. ISBN 9780429648922.
  7. ^ The Labour Year Book. 1928. p. 150.
  8. ^ The Balance of International Payments of the United States. 1930. p. 8.
  9. ^ "Henry Glave Ltd". The Nation and Athenæum. Vol. 45. 1929.
  10. ^ "United Drapery Stores". The Saturday Review of Politics, Literature, Science and Art. 149: 405. 1930.
  11. ^ "Financial Results of Certain Branch Systems". Trade Information Bulletin. Vol. 676–700. 1930.
  12. ^ "Sir Arthur Wheeler and Co". The Accountant. 85: 29. 1931.
  13. ^ a b Aris, Stephen (1971). But There are No Jews in England. p. 108. ISBN 9780812813982.
  14. ^ "Sir Arthur Wheeler and Co". The Accountant. 84: 488. 1931.
  15. ^ Thorburn. George (2012). Remembering the High Street: A Nostalgic Look at Famous Names. ISBN 9781844689248.
  16. ^ Kelly's Post Office London Directory. 1891. p. 1234.
  17. ^ Saint. Andrew (2013). @Survey of London: 1, Public, Commercial and Cultural. Battersea. p. 401. ISBN 9780300196160.
  18. ^ Timpson, John (2015). High Street Heroes: The Story of British Retail in 50 People. ISBN 9781848319172.
  19. ^ Lovelock, Derek (1990). Gorb, Peter (ed.). Design Management: Papers from the London Business School. pp. 151–156. ISBN 9780442303631.
  20. ^ a b c Thorburn. Gordon (2012). Remembering the High Street: A Nostalgic Look at Famous Names. ISBN 9781844689248.
  21. ^ Stuart Hylton (2016). Reading in 50 Buildings. ISBN 9781445659350.
  22. ^ International Co-operative Alliance (1951). Cartel. Vol. 2–4.
  23. ^ a b "Bernard Lyons. Chairman of United Drapery Stores who oversaw the emergence of one of the pre-eminent British retail empires". The Times. 22 April 2008.
  24. ^ See Obituary: Jack Lyons, in The Independent (London newspaper), 20 February 2008.
  25. ^ Lawrence and Wihart (1962). Takeover: The Growth of Monopoly in Britain, 1951-61. p. 63.
  26. ^ Goldman, Lawrence (2013). Oxford Dictionary of National Biography 2005-2008. p. 709. ISBN 978-0-19-967154-0.
  27. ^ a b William Mennell (1962). "Takeover: The Growth of Monopoly in Britain, 1951-61". p. 63.
  28. ^ "Newcastle upon Tyne Drapery Business Sold". The Estates Gazette. Vol. 172. 1958. p. 183.
  29. ^ Thomas Derdak, Tina Grant (2001). International Directory of Company Histories. Vol. 37. p. 6. ISBN 9781558624429.
  30. ^ Co-operative Press (1961). Agenda: Co-operative Management Magazine. Vol. 9–10. p. 72.
  31. ^ Callery, Sean (1991). Harrods, Knightsbridge: The Story of Society's Favourite Store. p. 18. ISBN 9780852239896.
  32. ^ "Investment". The Statist: A Journal of Practical Finance and Trade. Vol. 188. 1965. p. 2.
  33. ^ Alliance, David (2015). A Bazaar Life: The Autobiography of David Alliance. ISBN 9781849548786.
  34. ^ a b Monopolies & Mergers Commission report[usurped]
  35. ^ Mitzi Szereto (2021). The Best New True Crime Stories: Crimes of Passion, Obsession & Revenge. ISBN 9781642506495.
  36. ^ Caplan, Joseph (2018). "13". The Money Man: A True Life Story of One Man's Unbridled Ambition, Downfall, and Redemption. ISBN 9781683507680.
  37. ^ "Retail Groups". Investors' Chronicle and Stock Exchange Gazette. Vol. 14. 1970. p. 1120.
  38. ^ "Calendar of Economic Events: July—September 1971". National Institute Economic Review. Vol. 58. 1971. pp. 76–79. doi:10.1177/002795017105800107.
  39. ^ "Henry Battle". Investor Chronicle and Stock Exchange Gazette. Vol. 18. 1971. p. 332.
  40. ^ A.P. Jacquemin, H.W. de Jong (2012). Welfare aspects of industrial markets. p. 66. ISBN 9781461342311.
  41. ^ Raghubir Dayal; Peter Zachariah; Kireet Rajpal (1996). Advertising and Promotion Management. p. 70. ISBN 9788170996422.
  42. ^ "UNITED DRAPERY STORES LIMITED". The Guardian. 11 October 1972. p. 17.
  43. ^ David Teather (3 April 2009). "John Timpson, the cobbler who is showing his rivals a clean pair of heels". The Guardian. Retrieved 4 June 2012.
  44. ^ "Meet The Timpsons". www.timpson.co.uk. Retrieved 18 January 2016.
  45. ^ a b George G. Blakey (2011). A History of the London Stock Market 1945-2009. ISBN 9780857191151.
  46. ^ Lionel Faraday Gray, Jonathan Love (1975). Jane's Major Companies of Europe. p. B-162. ISBN 9780354005142.
  47. ^ Hollander, Stanley Charles (1970). Multinational Retailing. p. 46. ISBN 9780877441007.
  48. ^ "United Drapery Stores". The Economist. Vol. 211. 1964. p. 1526.
  49. ^ Agenda: Co-operative Management Magazine. Vol. 9–10. 1961. p. 73.
  50. ^ "John Myers & Co, mail order catalogue business". National Archives. Retrieved 4 December 2021.
  51. ^ Eric M. Sigsworth (1990). Montague Burton: The Tailor of Taste. p. 149. ISBN 9780719023644.
  52. ^ a b Dean F. Berry, Sebastian Green (2016). Cultural, Structural and Strategic Change in Management Buyouts. p. 161. ISBN 9781349215591.
  53. ^ Investors Chronicle. Vol. 56. 1981. p. 887.
  54. ^ The Monopolies and Mergers Commission (January 1983). "The Great Universal Stores PLC" (PDF). The Great Universal Stores PLC and Empire Stores (Bradford) PLC: a report on the existing and proposed mergers. The Competition Commission. Archived from the original on 25 October 2007. Retrieved 25 October 2011.{{cite web}}: CS1 maint: unfit URL (link)
  55. ^ a b Dean F. Berry, Sebastian Green (2016). Cultural, Structural and Strategic Change in Management Buyouts. pp. 163–164. ISBN 9781349215591.
  56. ^ Gerald Ronson, Jeffrey Robinson (2010). Gerald Ronson: Leading from the Front: My Story. p. 114. ISBN 9781907195204.
  57. ^ Sebastian Green; Dean F. Berry (1991). "The John Collier Story". Cultural, Structural and Strategic Change in Management Buyouts. pp. 149–175. doi:10.1007/978-1-349-21559-1_7. ISBN 9781349215614.
  58. ^ Retail Week's Top 500: 2004
  59. ^ "Habitat steps in on Richard Shops Deal". The Financial Times. 1 October 1983. p. 1.
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