Pergament Home Centers
American retail chain From Wikipedia, the free encyclopedia
Pergament Home Centers was a home improvement store chain with stores in New York, New Jersey, and Connecticut.[1] It specialized in the sale of flooring, paint, and wallpaper and was one of the first in the area to sell acrylic paint.[2][3] At its zenith, the chain had 42 stores and sales of $375 million.[2]
| Industry | Home improvement |
|---|---|
| Founded | 1935 in Franklin Square, New York, United States |
| Founder | Louis Pergament |
| Defunct | 2001 |
| Fate | Bankruptcy |
| Parent | Mancuso & Co. |
In 2001, after facing stiff competition from The Home Depot and Lowe's, the company filed bankruptcy and shut down.[1]
History
The company had its roots in a store opened in 1935 by Louis Pergament in Franklin Square, New York.[1][3]
In 1989, Mancuso & Co., owned by Robert F. Mancuso, and Equitable Capital Management acquired the company from the founding family for as much as $175 million (~$374 million in 2023) via a leveraged buyout.[2] Equitable Capital Management invested over $11 million in the acquisition.[4] Michael H. Lurie became president and chief operating officer.[5]
In 1992, the company was restructured, including layoffs and store closings.[1][2] Control of the company wound up in the hands of its lender, Westdeutsche Landesbank.[2]
In 1998, the company closed its last store in Connecticut.[6]
In 2001, after facing stiff competition from The Home Depot and Lowe's, the company filed bankruptcy and shut down.[1]
In 2013, Bob Pergament, the son of the founder, told his memoirs about the chain.[3]
References
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