Hooker agrees to buy controlling interest in the B. Altman department-store chain. The move comes a week after acquiring most of retailer Sakowitz Inc. and six months after buying Bonwit Teller. Forest Fair Mall opens its east wing. Forest Fair Mall opens entirely with almost 200 stores, including Parisian, Elder-Beerman, Bonwit Teller, Bigg's and B. Altman.
Many retail experts say it is doomed.
LJ Hooker puts Forest Fair on the block. George Herscu, the Australian tycoon and owner of LJ Hooker parent Hooker Corp., files for bankruptcy protection. Also filing are B. Altman and Bonwit Teller. Later, Forest Fair and Sakowitz join for protection. Bonwit Teller closes.