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3 Lessons from the Bankruptcy of Belk Girlfriends in God See All Devotionals 2021 Feb 25 In 1888, William Henry Belk opened a modest store called The New York Racket in Monroe, North Carolina. Three years later, his brother John Belk became a partner and renamed the store Belk Brothers Company. By 1923 they operated 20 stores that generated $10 million in annual sales. In 1955, the sons of William Henry Belk transformed Belk from downtown bargain stores to modern fashion destinations in shopping centers and malls throughout the South. In 1988, a new generation of Belk family members merged all 112 stores into one company. By the time it was sold in 2015 for $3 billion, it had grown to nearly 300 locations in 16 states.

North carolinaUnited statesChapel hillCatherine muccigrossoJames emery whiteWilliam henry belkKatrijn gielensAustin weinsteinBarbara kahnJohn belkNc department store iconUniversity of pennsylvania wharton schoolBelk brothers companyNew york racketCharlotte observerBelk went bankrupt