Ames

Ames was a chain of discount department stores which operated from 1958 until 2002. At its peak, the chain was the fourth-largest discount retailer in the United States, with over 600 locations.

Early history and acquisitions
Ames was founded in 1958 by Milton and Irving Gilman as a discount department store in Southbridge, Massachusetts in the former Ames Worsted Textile Company mill. The store generated approximately $1 million its first year, causing a third brother, Herbert, to join the company in 1959. A second location was opened in St. Johnsbury, Vermont in October 1959, followed by a third in Rutland, Vermont in 1960.

Ames continued to expand throughout the Northeast, with its primary market being rural communities not served by other major retailers. This model proved to be profitable, and Ames became a successful chain store, going public in 1962. By 1970, there were 23 Ames locations. The 1972 acquisitions of the Joseph Leavitt Corporation and K&R Warehouse Corporation were the company's first major purchases.

Neisner Brothers was acquired by Ames in 1978, with the chain's 32 Big N discount stores being renamed Ames. King's and Murphy Mart were later acquired by Ames in 1984 and 1985, respectively. Ames' formula of acquiring struggling companies and turning around their operations proved to be successful.

Zayre acquisition and first bankruptcy
In October 1988, Zayre Corporation sold all 392 Zayre stores to Ames for $434.1 million. Ames was largely unable to recover Zayre's lost customer base, and the acquisition was unsuccessful for the company. Ames filed for Chapter 11 bankruptcy on April 25, 1990. During the bankruptcy, Ames closed over half of its stores, including the G.C. Murphy and Bargain World variety store chains, which were sold to McCrory Stores.

Bankruptcy recovery and Hills acquisition
On December 30, 1992, Ames completed its reorganization plan and emerged from bankruptcy. The company received $210 million to rebuild its profitability and become successful again. They did so for the 1993 year, and continued to improve, peaking at a net income of $17.3 million in 1996. The same year, Ames acquired 10 former Jamesway stores.

On November 12, 1998, Ames acquired Hills, a competing department store chain based in Canton, Massachusetts. The acquisition brought Ames' store count up to 456 stores and made it the nation's fourth-largest discount retailer, with only Walmart, Kmart, and Target having more stores. Most former Hills stores had been renamed Ames by the end of 1999.

Second bankruptcy and liquidation
Ames closed 8 stores in March 1999. Thirty-two more locations were shut down in November 2000, 31 of which were newly-acquired Hills (the weakest in the chain). On August 20, 2001, Ames announced that it had filed for Chapter 11 bankruptcy again. Forty-seven stores were closed. Another 16 locations and a distribution center were shuttered in November 2001, followed by an additional 54 in December. Another six stores shut down in June 2002, leaving the chain with 327 locations.

On August 14, 2002, Ames announced it would be liquidating the remaining locations and permanently shutting down operations. Competition with Walmart and Target was primarily blamed for the closure. Longtime rivals Ann & Hope, Bradlees, and Caldor had also recently closed down for similar reasons. By October 19, 2002, every store had closed.

Potential return
In November 2022, the amesstores.com domain was quietly revived with a message stating that Ames would be making a return in the spring of 2023. According to a LinkedIn profile linked to the website, the project was being run by Molyneux Group, which also owns the assets of Bradlees. That December, news outlets began picking up the story, with many believing it to be a hoax. On December 18, 2022, a contact email for press inquiries was added to the website.

On December 26, 2022, Providence, Rhode Island-based CBS affiliate WPRI reached out to the email, and received a message from Shannon de Molyneux, the president of Cross Moline Ventures, a U.S. subsidiary of Molyneux Group, and future chairwoman for Ames. de Molyneux said seven stores were planned for 2023, with the first one likely being in Connecticut. New York and Pennsylvania were also listed as locations. She explained that the stores would sell general merchandise and groceries, and some locations would have in-store cafes. She refused to divulge specific locations, but said Ames planned to do so in February 2023.