Belk buys Parisian

[Easyrider]

Belk buys Parisian in $285 million deal

Belk Inc. has purchased Birmingham retail chain Parisian from Saks Inc. for $285 million.

The purchase includes the company’s 125,000-square-foot Birmingham headquarters and distribution facility off Lakeshore Parkway along with 38 stores in nine states and a separate 180,000-square-foot distribution center in Steele.

Birmingham has served as the headquarters for Saks since Parisian's former parent company Profitt's bought the luxury retailer in 1998. It plans to consolidate its operations in its Saks Fifth Avenue headquarters in New York.

The deal calls for Parisian store employees to become Belk employees. Some of the 125 workers at Saks' Birmingham headquarters will be offered jobs at other Saks locations while the remainder will lose their jobs.

Saks also agreed to enter into fee-for-services deal with Belk to provide Parisian with support and back office operations for a limited period of time.

[shells]

The deal calls for Parisian store employees to become Belk employees. Some of the 125 workers at Saks' Birmingham headquarters will be offered jobs at other Saks locations while the remainder will lose their jobs.

You know what? That just stinks...retail is such an unpredictable occupation. This is very sad for the people losing their jobs.:(

[MsD]

wait a minute!! this is my fave place 2 shop.....esp after Gayfers closed/bought out by that other store i cant remember.....dillards. (still call it gayfers!) maybe catch some kewl sales????

[usetobe]

I can't believe that. I saw that there was a Belk in B'ham when we came home this summer. We have Belks here and I have never found much. Hubby says it's "cheap" looking.

[dillybar]

OH NO! This BETTER NOT Mess up my February Boot Sale!

[roosterbridge]

I can't believe that. I saw that there was a Belk in B'ham when we came home this summer. We have Belks here and I have never found much. Hubby says it's "cheap" looking.

Living here in B'ham, I hate to see the change. Being a man, I don't care much for shopping but Parisian has always been one of my favorites. There merchandise has always been high quality and I always buy off the "clearance" or "reduced" racks. Haven't paid full price for anything in years!

[N8RPX]

Then why is McRae's in Meridian now Belk? Really, I don't care. Went there Sunday after my mother told me about it. Wife and I paid $103.?? for several things and the ticket said we saved $129.?? over the regular prices. I don't care who they are - as long as it's cheap. For instance, I got a pair of Chaps cargo shorts, regular $38 for $15. Many items were 50% off and then 40% off of that. If something was $50 >> $25 >> $15. Not bad at all!

[nurse L]

I hated to see this happen especially for the people losing their jobs. I LOVE Parisians.

[Roxanne]

This bothers me too. I love Parisian. I'm still not over losing Gayfers! Parisian has great quality. I'm afraid Belk may not.

[itsme1]

I don't care for Belks very much. First they take over McRays and now Parisians......Where will we shop?

[demopolite]

McRae's simply went out of business (I think they might have declared bankruptcy and gotten out of their leases in a liquidation, but I'm not sure), and other stores moved into the space.

The retail employees will probably be fine because those stores never stay closed for long, and the changeover will likely be smooth. However, the employees at headquarters have a rather tough choice if they have any choice at all: move to NY or have no job.

[bigdaddysgirl69]

This must explain why I saw that McRaes in Selma is now Belk! I was like "Wow what happened?"

[demopolite]

Ah HA!!!

On March 8, 2006, the Proffitt's and McRae's stores were converted into Belk stores. Belk acquired the two chains in July 2005 from Saks Incorporated.

So now, Belk has just bought another trade name/subsidiary (not sure how it's set up).

[thegurlnextdoor]

NO!!!!!!!!!....i hope belks holds up the reputation as perisians..............i never thought belks was in the same league as perisians and dillards.........
im not sure im happy about this......