Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Interstate Department Stores, Inc. Deal - Lehman Brothers Collection

Interstate Department Stores, Inc.

Company Dealoffering of 500,000 shares of common stock
Transaction TypeCommon Stock
Deal DescriptionInterstate Department Stores, Inc., used the net proceeds from this transaction in connection with its expansion program. A portion of the proceeds was used to repay bank borrowings, which were incurred in March 1969 to provide funds for the acquisition of the stock of Steel City Department Stores, Inc., and affiliated corporations. These companies operated eight Children's Bargaintown, U.S.A. toy supermarts. The balance of the proceeds was added to the company's general funds and was made available for the purchase of inventories and fixtures for the company's proposed new stores.
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