GFE Department

GFE Department was an department store chain with over 15 locations. It was founded by former local Sears employee Harold Carr in 1957.
== History ==
Griffin's East opened up its first store in 1958. Following more openings as years goes on, Sears purchased Griffin's East and later renamed the chain GFE Department. A few locations was even converted into Sears after the purchase.
GFE Department open up its 6th location at the new Port City Mall along with Sears in 1961.
Sears later introduced Diehard and other Sears brands products at all GFE Department locations.
In 1981, Interstate Properties, controlled by Steven Roth, took control of the company, seeking to maximize the value of its real estate. The chain later became part of Alexanders chain, until it was liquidated in 1991.
In 1992, the Carr family, acquired a minority steak from Alexanders Inc. and later announced that GFE will be revived as a real estate investment trust company, with Griffin's Shopping Group being dissolved into the new REIT company. GFE Realty Trust was formed in 1993.
Category:Companies based in Richardstown, North Carolina
Category:Companies disestablished in 1991