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GUS (retailer)

August 21, 2023

GUS plc was a FTSE 100 retailing, manufacturing and financial conglomerate based in the United Kingdom. GUS was an abbreviation of Great Universal Stores, the company's name before 2001, while it was also known as the Glorious Gussies amongst stockbrokers.[2] The company started out as Universal Stores, a mail order business created by the Rose family.[3] In 1931, Isaac Wolfson joined the mail order company and would, through a series of takeovers, turn it into a retail, manufacturing and financial conglomerate,[4][5] becoming Europe's biggest mail order firm[6] and with over 2,700 physical stores.[5] His son, Leonard Wolfson, followed him as chairman, to be succeeded by his nephews David Wolfson (1996–2000)[7] and Victor Barnett (2000–2002).[8] During the 1980s, the business divested much of its physical retail and manufacturing subsidiaries under Leonard Wolfson to concentrate on mail order, property and finance.[9][10][11][12] In October 2006, the company was split into two separate companies: Experian which continues to exist, and Home Retail Group which was bought by Sainsbury's in 2016.

GUS plc
IndustryRetail
Founded1900 as Universal Stores
Defunct10 October 2006
FateDemerged
Successors
HeadquartersLondon, England
Key people
Isaac Wolfson,
Leonard Wolfson,
David Wolfson,
Victor Barnett,
Sir Victor Blank (Chairman),
John Peace
ProductsMail order
Clothing
Footwear
Furniture
Revenue £7,262 million (2006)[1]
£654 million (2006)[1]
£595 million (2006)[1]
Subsidiaries

History

Universal Stores was founded in 1900 as a mail-order business in Manchester, England by Abraham, George and Jack Rose. A private company, Universal Stores (Manchester) Ltd, was set up to manage the business and the company was incorporated in 1917.[3] In 1930, the company changed its name to Great Universal Stores Limited. The next year it was listed on the London Stock Exchange. At this stage, it was the leading mail order business in the UK, with a single catalogue, Great Universal. A second catalogue, John England, was launched later in 1933.[3] The company set up a chain of department stores in a joint venture with American businessman Charley Nicholls called New Universal Stores.[13]

In 1931, Isaac Wolfson was invited to join the company as merchandise controller after impressing director George Rose at a trade fair in Manchester, accepting no wages in return of share options.[4] The flotation of the company was not a huge success, and with an ill-advised move to London the share price dropped.[4] Wolfson, using money borrowed from his father in law, purchased a large amount of shares and became the joint managing director a year later with George Rose,[4] who subsequently resigned in 1934 leaving Wolfson in sole charge.[14] In 1933 the company had made a loss of £55,000, but Wolfson's reorganisation turned this around to a profit of £330,000 in 1934.[4] He was chairman from the late 1940s until his retirement in 1987. Wolfson grew GUS by offering 'A' ordinary shares, which had no voting rights,[15][16] or by selling the premises and leasing it back.[17] Through his wealth gained at Great Universal Stores, he established the Wolfson Foundation in 1955.[18] By 1983 the company had expanded its range of operations significantly. Catalogue mail order was by far the company's primary business but the company was also engaged in retailing through shops, the manufacture of clothing and household goods, financial services, property investment and travel.[3] Until 1997, GUS had 48 years of consecutive profit growth.[19]

UK mail order catalogues growth

Great Universal acquired Kay & Company Ltd in 1937, and continued to run its catalogue, Kays, as a separate title. Based in Worcester, Kay & Company began life in the 1880s and was an established mail order company at the time of the GUS takeover.[3] Two further mail order firms were purchased in 1938, Trafford Warehouse and Samuel Driver.[20]

After World War II, the expansion of the mail order business restarted with the purchase of Morses in 1947.[20] This was followed by the purchase of the famous mail order business of Pryce Pryce-Jones, The Royal Welsh Warehouse, which was acquired in 1954.[20][21] The company further expanded the mail order business during the 1960s by buying rivals Bollin House (1961),[20] Dyson and Horsfall (1962)[20] and Chorlton Warehouse (1963).[20]

GUS acquired A & S Henry & Co group in 1971 after a battle with fellow retailing group United Drapery Stores.[22][23] This group was primarily a group of paper pulp and carpet manufacturing businesses and a mail order unit trading as John Noble. This was followed in 1976 by the acquisition of the retail business of S & U Stores Ltd, a 120 chain store holding company which operated catalogues, Greenbank and Meridien;[24][25][26] In 1977 the business of Henry Wigfall & Son Ltd catalogue business of All Yours, Wigfalls at Home and Choice Mail Order were purchased,[24] and in 1981 GUS acquired the John Myers Home Shopping catalogue business from UDS Group plc.[27] All of these mail order businesses became part of the GUS subsidiary, the British Mail Order Corporation Ltd (BMOC) and were run separately from Kay & Company Ltd.[3] However, in 1983 the Monopolies & Mergers Commission vetoed a merger of GUS with rival Empire[28][29] which GUS had already purchased 36% of the shares in.[30] Two thirds of the shares in Empire was sold to a Dutch company, Vendex, with GUS retaining a 12% holding.[31] UK operations were grown in 1997 with the purchase of most of Arcadia Group's catalogue business, which included the catalogues Innovations and McCord.[32][33][34][35]

European mail order catalogues growth

From the 1960s, GUS grew its presence on continental Europe. This started with the purchase of the Wehkamp mail order business based in Holland.[36] This was increased by Swedish catalogue Hallens I. Barrasford which was purchased in 1966[37][38] and the Austrian mail order firm Universal Versand in 1968.[39][40] The last purchase was Verdia in Switzerland, which was purchased in 1982[41] The Wehkamp catalogue was expanded by its parent company, GUS Holland BV, by purchasing smaller Dutch rival Bertels in 1970,[42] moving into the Belgium and Germany markets[43] and offering separate catalogues selling everything from flower bulbs to furniture and holding a third of the mail order market in Holland.[44] GUS expanded Halens catalogue into the Finnish market in 1997.[45]

Furniture business growth

In 1934, Great Universal started to grow its furniture business by purchasing the Midland and Hackney chains.[46] This was followed in 1943 by the purchase of the Jays and Campbell chains for £1.2 million from its owner Sir Julien Cahn,[46] and British and Colonial Furniture Company in 1945, along with its Cavendish, Woodhouse and Dale chains for £1 million[46] and the manufacturing business of Tyne Plywood Works.[47] Smart Brothers furniture chain was added in 1948 for a further £1 million.[46] In 1946, a Working Party report stated its concerns about GUS purchases:[46]

A large group has recently acquired control of several well known multiple house furnishing businesses and now owns 480 stores throughout the country. In addition it has still more recently obtained control of several large manufacturing units and one plywood plant... so it's clear... this organisation will be in a position to exercise very considerable influence on the trade

They continued to buy furniture stores, with Oetzmann & Co. purchased in 1954,[48] Godfrey and James Broderick stores added.[49] The biggest name purchased was Waring & Gillows in 1953, however a large share of the business was sold to rival furniture chain "John Peters", run by Manny Cussins for cash and shares in 1960.[50] During 1955, GUS furniture factories were hit by the UK government's restrictions to hire purchase, with Tyne Furniture Works, one of Europe's biggest furniture factory's, having to go on short time due to the fall in orders.[51] In 1957, GUS funded research by the Furniture Development Council into blooming caused by lacquers used on furniture products.[52] In 1968, GUS purchased the combined furniture and menswear group Times-Willerby, adding The Times Furnishing Company to its furniture retail portfolio,[53] while also purchasing the Welsh-based furniture retailer S. Aston & Sons in 1968.[54] During the same year GUS was taken to Court by Cheltenham department store Cavendish House about using the Cavendish name on the former Dale furniture store.[55] In 1985, GUS combined The Times Furnishing Group, and its remaining furniture businesses that had been consolidated under Cavendish-Woodhouse, and branded them under the Times name.[56] The 375 store business was sold to Harris Queensway in 1986, for an exchange of a 20% shareholding in Harris Queensway.[57][9]

Department stores and Draperies

In 1937, Charley Nicholls, the part owner of New Universal Stores sold his shares to Zellers, the Canadian retailer,[58] who took over management of the chain and renamed it Hills & Steele. The business was making a loss and GUS took over management of the business in 1939, but sold it to British Home Stores in 1944.[59][60] GUS however did not pull out of this market, and went on a purchasing spree. The first bought was Cardiff based store, Leslie Stores and its subsidiaries, John Dyer in Southsea,[61] Ben Evans in Swansea and London House in Newport were purchased in 1940.[62][63] World War II briefly slowed the growth, but after the war Bainbridges of Lincoln, Lincolnshire & Wisbech was purchased in 1949,[20] quickly followed by J Robb & Co of Belfast in 1951.[64] GUS subsidiary, Kays purchased the Kidderminster store Attwoods,[65] while in 1954 Bladons of Hull[49][48] and Jones & Higgins Peckham were acquired.[66][67] The company added Pim Brothers (Dublin)[62][68] and Darling & Co. Edinburgh in 1955,[69] Houndsditch Warehouse, Houndsditch, London in 1958[70] and Beavans in Byker in 1964.[71][72] Other department stores acquired during this time included Butterfield and Massies of Barnsley,[49][73] Webbers of Maidenhead,[74] Wickhams[49] and Pyne Brothers both of London.[62] GUS also purchased during this period smaller Drapery Stores, many of which offered credit to their customers. These included W. Brydson & Co of Perth,[75] Evans and Allen of Newport,[76] Garrett & Co of Woolwich,[76][77] Rees Howell in Glamorgan,[75] R. W. Pritchard in Shephards Bush,[61] the Taylor-Nottidge Group which included the subsidiaries:[61] F. Taylor & Sons (Lambeth), J. T. Nottidge (Islington), Gergels (Gravesend), Beck Jones (Lewisham), John Williams & Co (Rotherhithe), Heywoods (Manor Park). The biggest purchase was Penberthys of Oxford Street in 1955.[20]

However the age of the department store and drapery was starting to falter, and GUS sold, closed down or repurposed the stores. Darling & Co. was sold to House of Fraser in January 1961.[78][79] J Robb & Co was closed in 1973, as was Pim Brothers in 1967, both being rented out by GUS Property before being redeveloped.[64] Jones & Higgins was closed as a department store in 1980, becoming a branch of Houndsditch Warehouse before it eventually closed in 1984,[80] with Houndsditch itself closing in 1986 and being redeveloped by GUS Property as 133 Houndsditch, an office development.[81][82][83] Garrett & Co in Woolwich was closed 1972 and replaced by a Times Furnishing store,[84] while the likes of Bainbridges[85][86] and Butterfield and Massies[87][88] were converted into Thoms discount stores.[88]

Early Do it yourself stores

In 1958, GUS purchased Art Wallpapers, a chain of paint and wall covering stores.[20] The business was grown by adding more stores, as well as purchasing further DIY retailers Great Clowes Discount Warehouse,[89][90][91] and Home Charm.[92] By the 1980s the business had 175 stores, but was sold to Harris Queensway in exchange for shares as part of the same deal that Harris had acquired Times Furniture.[9]

Grocery retail business

In 1962, the business moved into the grocery business by buying William Cussons, a northern based chain,[93][94] which operated a further 40 Carline Supermarkets.[95] These businesses were sold to Associated British Foods grocery business Fine Fare in November 1968.[96]

Clothing retail

After the Second World War, Wolfson expanded GUS into the world of clothing retailing. It purchased the retail chains, Jays of Regent Street in 1946;[97] ladys outfitters Wilsons in 1947[20] followed by Jax in 1949.[20] During 1954, mens tailoring chain John Temple[20] was purchased along with Rego Clothiers.[76] Two high end retailers, Burberry and The Scotch House were added to the company's portfolio in 1955[3] along with national chain Weaver to Weaver.[76] Two years later GUS purchased the multiple retailer Morrisons Associated Companies, which included its subsidiaries,[20][98][75][99] Ashley Russell;[20] Audrey;[75] Cliftons;[98][75] Edgar Allen;[75] Graftons;[20][75] Irene Adair[98] and Paige.[20] It also added in 1957 the men's tailoring stores of Neville Reed.[20] The following year saw GUS expand its clothing empire by buying the men's tailoring chains of Hector Powe and Hope Brothers[20] (which included subsidiary John Maxwell)[100] and ladies outfitters J.Marksmith & Co. with its subsidiary[75] Vogue Fashions.[75] Headrow Clothiers, a manufacturing and clothing retail business was purchased in 1962, with the manufacturing business being sold onto Manny Cussins company, John Peters, but with GUS retaining the 88 Hipp/Tailorfit stores.[101][102] As part of the purchase of Times Willerby, a furniture and men's tailoring business in 1968, the Willerby tailor stores were added to the GUS portfolio.[53] The company expanded into European markets in 1972 by purchasing the French men's retailer 100,000 Chemises.[103][104][105] During the 1970s, the clothing operations management were consolidated under Morrisons Associated Companies, with the company rebranding it's men stores under the Just Pants Plus brand, while the womenswear brands were reduced to Paige, Wilsons and Jax.[106][107] In 1986, the 246 Paige stores were sold to retail group Combined English Stores.[108]

Footwear Retailers

In addition to clothing retailers, Isaac Wolfson expanded GUS retail portfolio into the world of Footwear. The first purchase was in 1956 when they acquired the Flateau Group, which included the subsidiaries[109] Henry Playfair, Metropole Shoes and the Metropolitan Boot Co. This soon added to by the purchase of manufacturer and retailer Greenlees & Sons in 1957, whose subsidiaries included[110] Easiphit; Dicks; J.W. Haylock; Peter of Durham; K. Stanton & Sons and Sandra. In 1973, the business was grown further by the purchase of Lennards.[111][112] The businesses were merged into a new company called Greenlees Lennards Ltd.[113] The combined company was sold to Charterhall during 1988.[114][115]

Electrical retailers

Great Universal Stores expanded into the High Street electrical retail market in 1948 by buying Boyds, a radio and television retailerand rental company.[20][116] This area of the business was further expanded by 1955 with the purchase of W H Barnes,[69] but it was not until 1971 that further expansion occurred with the purchase of J & F Stone Lighting and Radio Ltd.[116][117] The 100 stores of the J & F Stone brand were sold in 1975 to Thorn Electrical Industries who combined them into their existing Rumbelows chain,[118] while Boyds was sold to the Electronics Rental Group in 1974.[119][120]

Other retail and manufacturing growth

GUS developed its manufacturing businesses in the 1950s, with products including clothing, bedding, upholstery, textiles and pottery.[3]

A joint venture started in 1984 between commercial delivery firm Lex Wilkinson and GUS Transport, better known as White Arrow.[121] During the 1980s, Leonard Wolfson divested much of the companies retail and manufacturing business, to concentrate on mail order, Burberry, finance and property sectors.[12] While divesting the retail businesses, GUS kept hold of the freeholds of the properties and added them to their property business GUS Property Management, leasing the properties back to the purchasing businesses.[122][123]

In 1995, Marks and Spencers and GUS discussed a merger but it was eventually blocked by the M & S board.[124] In 1997, Great Universal Stores appointed Rose Marie Bravo as the new CEO of Burberry given the task of improving the company, which had been hit by the Asian crisis.[125] The company acquired Argos in 1998 in a hostile takeover bid[126][19] and the UK's second largest online retailer at the time, Jungle.com, in 2000 for £37 million.[127]

In 2001 the company changed its name to GUS plc using the identifier GUS on the London Stock Exchange. In November 2002, Homebase was acquired by GUS plc for £900 million, where it formed part of the Argos Retail Group. The previous month, GUS had announced that the Jungle.com business was also to be merged into the ARG division of the business and run from Argos' Milton Keynes headquarters.[128] From early in the year the Home Shopping division also embarked on a successful turnaround strategy helped by advisers managed by Rob Wherrett of Zymolysis.[129]

Canadian operations

With the purchase of British & Colonial Furniture in 1945, GUS gained ownership of their first Canadian business, Woodhouse & Co.[130] Great Universal Stores of Canada Limited was expanded with the further purchases of Legare Co., C. W. Lindsay, Forsts and Adams Furniture Co.[130] In 1953, Isaac Wolfson investigated a merger of his Canadian operations with Canadian department store Robert Simpson but withdrew from the deal at the last minute.[130] By 1964, GUS operated 125 furniture and appliance stores across Canada.[131] Charles Wolfson, Isaac's brother was formerly president,[130] became chairman as of 1 January 1963, and John P. Adderley became president and chief executive officer.[132]

The businesses included:

  • Woodhouse & Co (purchased 1945)[130]
  • Legare Co.[130]
  • Adams Furniture Co.[130]
  • C. W. Lindsay and Co.[130]
  • Forst's Ltd. (purchased 1955)[130]

In the early 1990s the Canadian company was fined $45,000 (Canadian) for misleading advertising, the largest total fine during that fiscal year. At that point, the company was doing business under the name of Légaré Woodhouse in Montreal and elsewhere in Quebec.[133] The business was sold at a loss of £1.7 million in 1998, as GUS pulled out of the Canadian retail market.[134]

South African operations

In 1947, Isaac Wolfson visited South Africa on a fact finding mission for investments and purchased shares in the newly public issued furniture retailer Lewis Stores, which operated 8 stores[135] Lewis Stores share holding was grown to take ownership of the business, and further investments were made in manufacturing businesses Workwear, Sweet-our, Lydbrook and Durban Bag Company.[136] By 1956, Lewis Stores had grown to a 45 store chain[130] including the brands Lewis Stores, Baron Furnishings, Excelsior Meubels and a credit clothing store called Universal Stores.[137] By 1964 the retail business had grown to 120 stores.[131] In 1972, Universal Stores were sold to South African rival Edgars, while 50 furniture stores were purchased from Edgar's and renamed Dan Hands, and the business opened stores in Botswana, Namibia and Swaziland.[137] During the 1990s the furniture stores were rebranded under the Lewis brand, and the electrical retailer Best Electricals was started up.[137] The retail business by 2003 had a total of 395 stores under the Lewis and Best Electrical brands.[138]

GUS were put under pressure during the apartheid years regarding their investments,[139][140] including pressure from Wolfson College, Oxford, which had been set up by a grant from the Wolfson Foundation.[141]

In 2003 it was announced the South African business would be partially floated on the Johannesburg market as part of the divestment of non core business.[138] The remaining shares of the business were sold in 2005.[142]

America plans

In 1949, GUS applied to the UK government asking to extend their dollar facilities to £750,000 to invest in the US to increase the sale of British goods.[143][144] In 1954, GUS made an approach to purchase the US mail order and department store group Montgomery Ward with a plan to invest $100 million in the business, however the bid was rejected by Montgomery Ward's board.[145] In December 1964, Isaac Wolfson announced they planned to expand into both the retail and manufacturing trades in the US,[146][147] however no purchases were made. GUS did set up Great Universal Stores Development Company Inc. in 1964[148] to work with two American partners on property development, and in 1968 set up a new subsidiary, BRAMBEC, as a commercial furniture contractor for its manufacturing businesses, working in partnership with Holiday Inn.[149]

Travel & holiday business

In 1956, GUS purchased Global Tours, Europe's biggest coach tour company that had been formed by Harry Rosenthal, Joe and Harry Shuman[150][151][152] adding Overland Tours later that year.[20] GUS added a further business to its Global subsidiary, Sunlight Holidays in 1962.[20] By 1969, the Global business had grown and was delivering 150,000 Tours annually, in the areas of air, coach rail and cruise tours.[153] Great Universal was a large shareholder in British Caledonian Airways,[154] and Global formed a strong partnership with a time charter arrangement.[155][156] By 1977, Global was offering low priced tours leaving from 10 different airports in the British Isles.[157] The company however suffered from a blacklisting from Arab countries due to the company chairman being Lord Mancroft, and the companies links to Israel.[158] In 1985, as part of Leonard Wolfsons divesting plans, Global, along with its brands Overland and Golden Circle were sold to rival tour company Intasun.[159]

GUS Property

GUS Property divisions started out as an investment company developing modern office blocks, including Dale Street in Manchester,[160] Chatworth House,[161] and in partnership with Gerald Ronson.[162] The company also invested in retail developments, including the 1985 development of St Nicholas Centre[163] while redeveloping the former Robb department store in Belfast into the Donegall Arcade.[164] In the 1980s, GUS started selling off its physical retail businesses, but retained the freehold and leaseholds, changing the company to GUS Property Management. The company continued to invest in property by purchasing The Forge shopping centre in Glasgow from Arlington Retail for £35 million in 1993[165] and the Connswater Shopping Centre in Belfast for £23.25m in 1996.[166] In 1997, GUS set up a joint company with British Land to manage the £900 million property portfolio held by GUS Property Management. Called BL Universal, British Land paid £230 million for its half share of the joint company.[167][168] The new business sold or relinquished 894 properties, either reinvesting in new property, such as retail parks,[169] or returning cash to the share holders. In 2003, British Land purchased the remaining 50% shareholding from GUS for £120 million, and paid off a £43 million loan that GUS had provided to BL Universal.[170]

Finance business

GUS purchased Whiteaway, Laidlaw & Co, a British owned department store chain located in the far East in 1957.[20] The business included several finance arms including General Guarantee Corp Ltd, a company dealing in equipment leasing and hire purchase financing. In 1964, Great Universal started selling motor insurance via their catalogues.[171] In 1997 General Guarantee purchased the vehicle leasing company Highway Vehicle Management.[172]

The finance business was sold as part of the company refocus under David Wolfson and Victor Barnett.[173] Highway Vehicle Management was sold to First National, a division of Abbey National for around £170 million in 2000,[172] with K.C Finance, its Channel Island subsidiary of General Guarantee Finance sold for £54 million.[174] The remaining part of General Guarantee Finance was closed down in 2000 with the loss of 600 jobs after failing to find a buyer.[175] The Whiteaway Laidlaw Bank was then transferred to the Home Retail Group, and was sold in 2007 to the Manchester Building Society.[176]

Credit agency and direct marketing business

In the 1970s, the Midland Household stores division of GUS developed a credit referencing system to help against bad debt on credit provided in its furniture stores. It was such a success that it was offered to other parts of the GUS group, and it grew and developed into direct marketing, credit management and store cards.[177] In 1980, GUS sought assistance from IBM, who recommended that they sold its products to others, thus the department became a separate organisation called Commercial Credit (Nottingham) (CCN), which sold its products to organisations outside of the GUS group.[178] During 1984 GUS purchased Manchester Guardian Society for the Protection of Trade.[179] In 1986, CCN bought US business MDS (Management Decision Systems), a specialist company developing credit scoring models.[180]

In November 1996, TRW sold their credit agency unit TRW Information Systems and Services Inc, that operated under the name Experian to Bain Capital and Thomas H. Lee Partners.[181] Just one month later, the two firms sold Experian to Great Universal Stores.[182] GUS merged the business with CCN and renamed the business Experian.[183] In 1997, GUS purchased US direct marketing company Direct Marketing Technology for $246 million.[184]

2000s divestment and demerger

The company started divesting its business by selling its Universal Versand business in April 2001 to the Otto group for £23 million.[185][174] Its luxury brand The Scotch House was put up for sale, but no buyer could be found and so the business was closed down in 2001 and its Knightsbridge store transferred to Burberry.[186] The company expanded into new markets by buying the Reality Group, a Web design, hosting and e-commerce consultancy business it had acquired for £35 million and merging it with its GUS Transport business, known as White Arrow, naming the combined business Reality.[187][188] Later on in 2001, Breathe.com, at the time Britain's 4th largest internet service provider was purchased from near bankruptcy, but was sold just three months later at a profit to Affinity Internet Holdings.[189][190]

In 2004, the company sold its traditional home shopping (catalogues) division in the UK and Scandinavia and its Reality business, which included the White Arrow business to the Barclay twins for £590 million,[191] who later merged the Littlewoods mail order operations into it.[192] This included the iconic Great Universal Stores catalogue, from which the company took its name, and completed the departure of GUS from its original business areas. Around the same time, the Barclays announced the closure of the Littlewoods Index catalogue showroom chain, the principal rival to Argos in the UK, selling around 35 stores to Argos.[193]

Following a reorganization led by Barnett, it was announced in May 2005 that GUS would divest its stake in Burberry by distributing Burberry shares to its own shareholders. In October the Wehkamp business was sold to Swedish investment company Industri Kapital for 390 million euros, selling the last remnant of the companies mail order business.[194] The Burberry demerger was completed in December 2005.[195] GUS plc ranked as the highest-spending online advertiser in the US, according to Nielsen NetRatings, spending over $US659m in 2006.[196] The next-ranked online advertiser, Vonage, had sales of just over $US294m.[196]

On 28 March 2006, it was announced that the company would split into two separate businesses, Home Retail Group and Experian, with both companies listed separately on the London Stock Exchange as of 11 October 2006.[197] GUS plc became a wholly owned subsidiary of Experian plc after the demerger and was renamed Experian Finance plc.[198]

Operations pre 1998

Mail order catalogues in United Kingdom

  • Great Universal[3]
  • John England (1933)[3]
  • Marshall Ward (1936)[20]
  • Kay & Co. Purchased 1937.[3]
  • Trafford Warehouse purchased 1938[20]
  • Samuel Driver purchased 1938[20]
  • Morses purchased 1947[20]
  • The Royal Welsh Warehouse purchased 1954[20]
  • Bollin House purchased 1961[20]
  • Dyson and Horsfall purchased 1962[20]
  • Chorlton Warehouse purchased 1963[20]
  • John Noble purchased 1971[22]
  • Greenbank and Meridien purchased 1976[24]
  • All Yours, Wigfalls at Home and Choice Mail Order purchased 1977[24]
  • John Myers purchased 1981[27]
  • Innovations purchased 1997[32][33][34]

Mail order catalogues in Europe

  • Wehkamp (Holland) purchased 1962.[36]
  • Universal Versand (Austria) purchased 1968[39][40]
  • Hallens I. Barrasford (Sweden)[37] purchased 1966[38]
  • Verdia (Switzerland) purchased 1982[41]
  • Family Album (Republic of Ireland)[199]
  • Celtic Hampers (Republic of Ireland) purchased 1998[199]

Department stores in the United Kingdom and Ireland

Department stores outside the United Kingdom

  • Whiteaway, Laidlaw & Co. purchased 1957.[20] Operating stores in Far East and Kenya.

Drapers

  • W. Brydson & Co (Perth)[75]
  • Evans and Allen (Newport)[76]
  • Garrett & Co (Woolwich)[76][77] Closed 1972 and replaced by a Times Furnishing store.[84]
  • Rees Howell (Glamorgan)[75]
  • John Dyer (Southsea)[61]
  • R. W. Pritchard (Shephards Bush)[61]
  • Taylor-Nottidge Group including subsidiaries:[61]
    • F. Taylor & Sons (Lambeth)
    • J. T. Nottidge (Islington)
    • Gergels (Gravesend)
    • Beck Jones (Lewisham)
    • John Williams & Co (Rotherhithe)
    • Heywoods (Manor Park)
  • Penberthys of Oxford Street purchased 1955[20]

Clothing retailers in the United Kingdom

  • Jays of Regent Street purchased 1946[97]
  • Wilsons purchased 1947[20]
  • Jax purchased 1949[20]
  • John Temple purchased 1954[20]
  • Rego Clothiers purchased 1954[76][201][77]
  • Burberry purchased 1955.[3]
  • Scotch House purchased 1955.[3]
  • Weaver to Weaver purchased 1955.[76]
  • Morrisons (and subsidiaries) purchased 1957[20][98][75]
  • Neville Reed purchased 1957[20]
  • Hector Powe purchased 1958.[20]
  • Hope Brothers purchased 1958.[20]
  • J.Marksmith & Co. purchased 1958 with subsidiary:[75]
  • Headrow Clothiers purchased 1962. Manufacturing business sold to Manny Cussins company, John Peters, but retained the 88 Hipp/Tailorfit stores.[203][102]
  • Willerby purchased 1968[53]

Clothing retailers in Europe

Footwear Retailers

  • Flateau Group purchased 1956. Subsidiaries included:[109]
    • Henry Playfair
    • Metropole Shoes
    • Metropolitan Boot Co.
  • Greenlees & Sons purchased 1957. Subsidiaries included:[110]
    • Easiphit
    • Dicks
    • J.W. Haylock
    • Peter of Durham
    • K. Stanton & Sons
    • Sandra
  • Lennards purchased 1973.[111][112] Sold to Charterhall during the 1988.[114][115]

(Businesses were merged into Greenlees Lennards Ltd.)[113]

Grocery business

  • William Cussons purchased 1962[93]
    • J.C. Carline Supermarkets subsidiary of Cussons[96][95]

Discount retailers

  • Thoms Household Goods[9] purchased 1970[204]

Furniture retailers

  • Hackney and Midland purchased 1934[46]
  • Jays purchased 1943[205][46]
  • Campbells purchased 1943[46]
  • British and Colonial Furniture Company purchased 1945[205] with subsidiaries:
    • Cavendish
    • Woodhouse
  • Baron Furnishers purchased 1947[20]
  • Smart Brothers purchased 1948[205][46]
  • Jackson Stores purchased 1949[205][206]
  • Waring & Gillow purchased 1953[207] Partially sold 1960.
  • Oetzmann & Co. purchased 1954.[48]
  • Godfrey[49]
  • James Broderick[49]
  • Times Furniture purchased 1968.[208][53]
  • S. Aston & Sons purchased 1968.[54]

Furniture contractors

Australian operations

  • Patersons. Australian furniture chain. 70% share bought 1974. Remaining shares bought 1977.[209][105]

Electrical retailers

DIY stores

Travel Agents and Tour Companies

  • Globe Tours purchased 1956[20]
  • Overland Tours purchased 1956[20]
  • Sunlight Holidays purchased 1962[20]

(Brought together under Global name)[211]

Manufacturing

  • Myers & Morris (furniture) purchased 1937[212]
  • Tyne Plywood Works purchased 1945[213]
  • Tyne Furniture Works purchased 1945[213][49]
  • Rylands & Sons purchased 1953[214][215] and subsidiaries:
    • Dacca Mills
    • Lintex
    • Vyse Sons & Co
    • Stapley & Smith
  • Victoria Mill purchased 1954.[216]
  • Burberry purchased 1955.[3]
  • Polikoff (clothing) purchased 1948[217][218]
  • JF Willis (Cinderella Shoes) purchased 1960[219]
  • Universal Furniture Products[49]
  • Gill & Reigate (furniture manufacturers)[49]
  • Joseph Johnstone (furniture manufacturer)[49]
  • Northern Bedding[49]
  • Commercial Plastics Ltd[110]
  • W.C. Grace & Sons (Carpets)[110]
  • John Woodrow & Sons (Silk Goods)[110]
  • Joseph Johnson of Lichwinnoch (Furniture)[110]
  • T.G. Hunt & Sons (Footwear)[110]
  • Munn and Felton (Footwear)[110]
  • Barretts of Staffordshire (Pottery) purchased 1948[110][220]
  • Sherrion (Hosiery and Knitwear)[110]
  • Greenlees & Sons (Footwear)[110]
  • Scottish Textile & Manufacturing Company purchased 1965[221]
  • Bollington Textile Printers[222]
  • David Hollander & Sons Ltd (Silver plated goods) purchased 1970[223]
  • Rank Bush Murphy purchased 1978[224]
  • Hobbies (Dolls furniture maker) closed 1968[225]
  • Pantherella plc purchased 1987 (high end sock brand)[226]

Finance and credit data business

  • All Counties Insurance Company[227]
  • General Guarantee for Finance[228]
  • Highway Vehicle Management purchased 1997[229]
  • Whiteaway Laidlaw Bank[227][230]
  • CCN (Commercial Credit Nottingham)[231]
  • Manchester Guardian Society for the Protection of Trade purchased 1984.[179]
  • TRW Information Systems and Services Inc (Thompson Ramo Woolridge) purchased 1996[231]
  • Direct Marketing Technology[232]
  • Metromail[233] purchased 1998[234]

Printing and Photography business

Property Management and Development

  • Great Universal Stores Development Company Inc.[148]
  • BL Universal[238][239]

Operations 1998 onwards

The company had three main divisions:

  • ARG – The Argos Retail Group, subsequently demerged to become Home Retail Group, which consisted of several subdivisions, including
    • Argos (previously an independent company, once owned by British American Tobacco) – the UK's largest catalogue retailer
    • Homebase (formerly owned and founded by J Sainsbury) – a DIY (home improvement) retailer
    • ARG Financial Services – provider of store card services, such as the Argos Card and Argos insurance products.
  • Reality Group - merger of GUS Transport business, known as White Arrow, and Reality Group, a Web design, hosting and e-commerce consultancy business it had acquired for £35 million.[187][188]
    • Breathe.com - Internet service provider purchased in 2001, selling it three months later.[189]
  • Experian – a credit reporting agency

See also

References

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  237. ^ P. Bonner, L. Aston (1998). Independent Television in Britain: ITV and IBA 1981-92: The Old Relationship Changes. Vol. 5. p. 286. ISBN 9781349396184.
  238. ^ Howarth, Anita (17 November 2003). "British Land Buys out JV Partner for $260M". GlobesSt.com.
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Further reading

  • Great Universal Stores, 25 years of progress: 1932 The Growth and Activities of the Great Universal Stores Limited under the direction of Mr. Isaac Wolfson. London, 1957

August 21, 2023
retailer, ftse, retailing, manufacturing, financial, conglomerate, based, united, kingdom, abbreviation, great, universal, stores, company, name, before, 2001, while, also, known, glorious, gussies, amongst, stockbrokers, company, started, universal, stores, m. GUS plc was a FTSE 100 retailing manufacturing and financial conglomerate based in the United Kingdom GUS was an abbreviation of Great Universal Stores the company s name before 2001 while it was also known as the Glorious Gussies amongst stockbrokers 2 The company started out as Universal Stores a mail order business created by the Rose family 3 In 1931 Isaac Wolfson joined the mail order company and would through a series of takeovers turn it into a retail manufacturing and financial conglomerate 4 5 becoming Europe s biggest mail order firm 6 and with over 2 700 physical stores 5 His son Leonard Wolfson followed him as chairman to be succeeded by his nephews David Wolfson 1996 2000 7 and Victor Barnett 2000 2002 8 During the 1980s the business divested much of its physical retail and manufacturing subsidiaries under Leonard Wolfson to concentrate on mail order property and finance 9 10 11 12 In October 2006 the company was split into two separate companies Experian which continues to exist and Home Retail Group which was bought by Sainsbury s in 2016 GUS plcIndustryRetailFounded1900 as Universal StoresDefunct10 October 2006FateDemergedSuccessorsHome Retail Group Retail 2006 Experian plc Financial services 2006 HeadquartersLondon EnglandKey peopleIsaac Wolfson Leonard Wolfson David Wolfson Victor Barnett Sir Victor Blank Chairman John PeaceProductsMail order Clothing Footwear FurnitureRevenue 7 262 million 2006 1 Operating income 654 million 2006 1 Net income 595 million 2006 1 SubsidiariesArgos Retail GroupHomebaseExperianKays amp CoBurberry Contents 1 History 1 1 UK mail order catalogues growth 1 2 European mail order catalogues growth 1 3 Furniture business growth 1 4 Department stores and Draperies 1 5 Early Do it yourself stores 1 6 Grocery retail business 1 7 Clothing retail 1 8 Footwear Retailers 1 9 Electrical retailers 1 10 Other retail and manufacturing growth 1 11 Canadian operations 1 12 South African operations 1 13 America plans 1 14 Travel amp holiday business 1 15 GUS Property 1 16 Finance business 1 17 Credit agency and direct marketing business 1 18 2000s divestment and demerger 2 Operations pre 1998 2 1 Mail order catalogues in United Kingdom 2 2 Mail order catalogues in Europe 2 3 Department stores in the United Kingdom and Ireland 2 4 Department stores outside the United Kingdom 2 5 Drapers 2 6 Clothing retailers in the United Kingdom 2 7 Clothing retailers in Europe 2 8 Footwear Retailers 2 9 Grocery business 2 10 Discount retailers 2 11 Furniture retailers 2 12 Furniture contractors 2 13 Australian operations 2 14 Electrical retailers 2 15 DIY stores 2 16 Travel Agents and Tour Companies 2 17 Manufacturing 2 18 Finance and credit data business 2 19 Printing and Photography business 2 20 Property Management and Development 3 Operations 1998 onwards 4 See also 5 References 6 Further readingHistory EditUniversal Stores was founded in 1900 as a mail order business in Manchester England by Abraham George and Jack Rose A private company Universal Stores Manchester Ltd was set up to manage the business and the company was incorporated in 1917 3 In 1930 the company changed its name to Great Universal Stores Limited The next year it was listed on the London Stock Exchange At this stage it was the leading mail order business in the UK with a single catalogue Great Universal A second catalogue John England was launched later in 1933 3 The company set up a chain of department stores in a joint venture with American businessman Charley Nicholls called New Universal Stores 13 In 1931 Isaac Wolfson was invited to join the company as merchandise controller after impressing director George Rose at a trade fair in Manchester accepting no wages in return of share options 4 The flotation of the company was not a huge success and with an ill advised move to London the share price dropped 4 Wolfson using money borrowed from his father in law purchased a large amount of shares and became the joint managing director a year later with George Rose 4 who subsequently resigned in 1934 leaving Wolfson in sole charge 14 In 1933 the company had made a loss of 55 000 but Wolfson s reorganisation turned this around to a profit of 330 000 in 1934 4 He was chairman from the late 1940s until his retirement in 1987 Wolfson grew GUS by offering A ordinary shares which had no voting rights 15 16 or by selling the premises and leasing it back 17 Through his wealth gained at Great Universal Stores he established the Wolfson Foundation in 1955 18 By 1983 the company had expanded its range of operations significantly Catalogue mail order was by far the company s primary business but the company was also engaged in retailing through shops the manufacture of clothing and household goods financial services property investment and travel 3 Until 1997 GUS had 48 years of consecutive profit growth 19 UK mail order catalogues growth Edit Great Universal acquired Kay amp Company Ltd in 1937 and continued to run its catalogue Kays as a separate title Based in Worcester Kay amp Company began life in the 1880s and was an established mail order company at the time of the GUS takeover 3 Two further mail order firms were purchased in 1938 Trafford Warehouse and Samuel Driver 20 After World War II the expansion of the mail order business restarted with the purchase of Morses in 1947 20 This was followed by the purchase of the famous mail order business of Pryce Pryce Jones The Royal Welsh Warehouse which was acquired in 1954 20 21 The company further expanded the mail order business during the 1960s by buying rivals Bollin House 1961 20 Dyson and Horsfall 1962 20 and Chorlton Warehouse 1963 20 GUS acquired A amp S Henry amp Co group in 1971 after a battle with fellow retailing group United Drapery Stores 22 23 This group was primarily a group of paper pulp and carpet manufacturing businesses and a mail order unit trading as John Noble This was followed in 1976 by the acquisition of the retail business of S amp U Stores Ltd a 120 chain store holding company which operated catalogues Greenbank and Meridien 24 25 26 In 1977 the business of Henry Wigfall amp Son Ltd catalogue business of All Yours Wigfalls at Home and Choice Mail Order were purchased 24 and in 1981 GUS acquired the John Myers Home Shopping catalogue business from UDS Group plc 27 All of these mail order businesses became part of the GUS subsidiary the British Mail Order Corporation Ltd BMOC and were run separately from Kay amp Company Ltd 3 However in 1983 the Monopolies amp Mergers Commission vetoed a merger of GUS with rival Empire 28 29 which GUS had already purchased 36 of the shares in 30 Two thirds of the shares in Empire was sold to a Dutch company Vendex with GUS retaining a 12 holding 31 UK operations were grown in 1997 with the purchase of most of Arcadia Group s catalogue business which included the catalogues Innovations and McCord 32 33 34 35 European mail order catalogues growth Edit From the 1960s GUS grew its presence on continental Europe This started with the purchase of the Wehkamp mail order business based in Holland 36 This was increased by Swedish catalogue Hallens I Barrasford which was purchased in 1966 37 38 and the Austrian mail order firm Universal Versand in 1968 39 40 The last purchase was Verdia in Switzerland which was purchased in 1982 41 The Wehkamp catalogue was expanded by its parent company GUS Holland BV by purchasing smaller Dutch rival Bertels in 1970 42 moving into the Belgium and Germany markets 43 and offering separate catalogues selling everything from flower bulbs to furniture and holding a third of the mail order market in Holland 44 GUS expanded Halens catalogue into the Finnish market in 1997 45 Furniture business growth EditIn 1934 Great Universal started to grow its furniture business by purchasing the Midland and Hackney chains 46 This was followed in 1943 by the purchase of the Jays and Campbell chains for 1 2 million from its owner Sir Julien Cahn 46 and British and Colonial Furniture Company in 1945 along with its Cavendish Woodhouse and Dale chains for 1 million 46 and the manufacturing business of Tyne Plywood Works 47 Smart Brothers furniture chain was added in 1948 for a further 1 million 46 In 1946 a Working Party report stated its concerns about GUS purchases 46 A large group has recently acquired control of several well known multiple house furnishing businesses and now owns 480 stores throughout the country In addition it has still more recently obtained control of several large manufacturing units and one plywood plant so it s clear this organisation will be in a position to exercise very considerable influence on the trade They continued to buy furniture stores with Oetzmann amp Co purchased in 1954 48 Godfrey and James Broderick stores added 49 The biggest name purchased was Waring amp Gillows in 1953 however a large share of the business was sold to rival furniture chain John Peters run by Manny Cussins for cash and shares in 1960 50 During 1955 GUS furniture factories were hit by the UK government s restrictions to hire purchase with Tyne Furniture Works one of Europe s biggest furniture factory s having to go on short time due to the fall in orders 51 In 1957 GUS funded research by the Furniture Development Council into blooming caused by lacquers used on furniture products 52 In 1968 GUS purchased the combined furniture and menswear group Times Willerby adding The Times Furnishing Company to its furniture retail portfolio 53 while also purchasing the Welsh based furniture retailer S Aston amp Sons in 1968 54 During the same year GUS was taken to Court by Cheltenham department store Cavendish House about using the Cavendish name on the former Dale furniture store 55 In 1985 GUS combined The Times Furnishing Group and its remaining furniture businesses that had been consolidated under Cavendish Woodhouse and branded them under the Times name 56 The 375 store business was sold to Harris Queensway in 1986 for an exchange of a 20 shareholding in Harris Queensway 57 9 Department stores and Draperies Edit In 1937 Charley Nicholls the part owner of New Universal Stores sold his shares to Zellers the Canadian retailer 58 who took over management of the chain and renamed it Hills amp Steele The business was making a loss and GUS took over management of the business in 1939 but sold it to British Home Stores in 1944 59 60 GUS however did not pull out of this market and went on a purchasing spree The first bought was Cardiff based store Leslie Stores and its subsidiaries John Dyer in Southsea 61 Ben Evans in Swansea and London House in Newport were purchased in 1940 62 63 World War II briefly slowed the growth but after the war Bainbridges of Lincoln Lincolnshire amp Wisbech was purchased in 1949 20 quickly followed by J Robb amp Co of Belfast in 1951 64 GUS subsidiary Kays purchased the Kidderminster store Attwoods 65 while in 1954 Bladons of Hull 49 48 and Jones amp Higgins Peckham were acquired 66 67 The company added Pim Brothers Dublin 62 68 and Darling amp Co Edinburgh in 1955 69 Houndsditch Warehouse Houndsditch London in 1958 70 and Beavans in Byker in 1964 71 72 Other department stores acquired during this time included Butterfield and Massies of Barnsley 49 73 Webbers of Maidenhead 74 Wickhams 49 and Pyne Brothers both of London 62 GUS also purchased during this period smaller Drapery Stores many of which offered credit to their customers These included W Brydson amp Co of Perth 75 Evans and Allen of Newport 76 Garrett amp Co of Woolwich 76 77 Rees Howell in Glamorgan 75 R W Pritchard in Shephards Bush 61 the Taylor Nottidge Group which included the subsidiaries 61 F Taylor amp Sons Lambeth J T Nottidge Islington Gergels Gravesend Beck Jones Lewisham John Williams amp Co Rotherhithe Heywoods Manor Park The biggest purchase was Penberthys of Oxford Street in 1955 20 However the age of the department store and drapery was starting to falter and GUS sold closed down or repurposed the stores Darling amp Co was sold to House of Fraser in January 1961 78 79 J Robb amp Co was closed in 1973 as was Pim Brothers in 1967 both being rented out by GUS Property before being redeveloped 64 Jones amp Higgins was closed as a department store in 1980 becoming a branch of Houndsditch Warehouse before it eventually closed in 1984 80 with Houndsditch itself closing in 1986 and being redeveloped by GUS Property as 133 Houndsditch an office development 81 82 83 Garrett amp Co in Woolwich was closed 1972 and replaced by a Times Furnishing store 84 while the likes of Bainbridges 85 86 and Butterfield and Massies 87 88 were converted into Thoms discount stores 88 Early Do it yourself stores Edit In 1958 GUS purchased Art Wallpapers a chain of paint and wall covering stores 20 The business was grown by adding more stores as well as purchasing further DIY retailers Great Clowes Discount Warehouse 89 90 91 and Home Charm 92 By the 1980s the business had 175 stores but was sold to Harris Queensway in exchange for shares as part of the same deal that Harris had acquired Times Furniture 9 Grocery retail business Edit In 1962 the business moved into the grocery business by buying William Cussons a northern based chain 93 94 which operated a further 40 Carline Supermarkets 95 These businesses were sold to Associated British Foods grocery business Fine Fare in November 1968 96 Clothing retail Edit After the Second World War Wolfson expanded GUS into the world of clothing retailing It purchased the retail chains Jays of Regent Street in 1946 97 ladys outfitters Wilsons in 1947 20 followed by Jax in 1949 20 During 1954 mens tailoring chain John Temple 20 was purchased along with Rego Clothiers 76 Two high end retailers Burberry and The Scotch House were added to the company s portfolio in 1955 3 along with national chain Weaver to Weaver 76 Two years later GUS purchased the multiple retailer Morrisons Associated Companies which included its subsidiaries 20 98 75 99 Ashley Russell 20 Audrey 75 Cliftons 98 75 Edgar Allen 75 Graftons 20 75 Irene Adair 98 and Paige 20 It also added in 1957 the men s tailoring stores of Neville Reed 20 The following year saw GUS expand its clothing empire by buying the men s tailoring chains of Hector Powe and Hope Brothers 20 which included subsidiary John Maxwell 100 and ladies outfitters J Marksmith amp Co with its subsidiary 75 Vogue Fashions 75 Headrow Clothiers a manufacturing and clothing retail business was purchased in 1962 with the manufacturing business being sold onto Manny Cussins company John Peters but with GUS retaining the 88 Hipp Tailorfit stores 101 102 As part of the purchase of Times Willerby a furniture and men s tailoring business in 1968 the Willerby tailor stores were added to the GUS portfolio 53 The company expanded into European markets in 1972 by purchasing the French men s retailer 100 000 Chemises 103 104 105 During the 1970s the clothing operations management were consolidated under Morrisons Associated Companies with the company rebranding it s men stores under the Just Pants Plus brand while the womenswear brands were reduced to Paige Wilsons and Jax 106 107 In 1986 the 246 Paige stores were sold to retail group Combined English Stores 108 Footwear Retailers Edit In addition to clothing retailers Isaac Wolfson expanded GUS retail portfolio into the world of Footwear The first purchase was in 1956 when they acquired the Flateau Group which included the subsidiaries 109 Henry Playfair Metropole Shoes and the Metropolitan Boot Co This soon added to by the purchase of manufacturer and retailer Greenlees amp Sons in 1957 whose subsidiaries included 110 Easiphit Dicks J W Haylock Peter of Durham K Stanton amp Sons and Sandra In 1973 the business was grown further by the purchase of Lennards 111 112 The businesses were merged into a new company called Greenlees Lennards Ltd 113 The combined company was sold to Charterhall during 1988 114 115 Electrical retailers Edit Great Universal Stores expanded into the High Street electrical retail market in 1948 by buying Boyds a radio and television retailerand rental company 20 116 This area of the business was further expanded by 1955 with the purchase of W H Barnes 69 but it was not until 1971 that further expansion occurred with the purchase of J amp F Stone Lighting and Radio Ltd 116 117 The 100 stores of the J amp F Stone brand were sold in 1975 to Thorn Electrical Industries who combined them into their existing Rumbelows chain 118 while Boyds was sold to the Electronics Rental Group in 1974 119 120 Other retail and manufacturing growth Edit GUS developed its manufacturing businesses in the 1950s with products including clothing bedding upholstery textiles and pottery 3 A joint venture started in 1984 between commercial delivery firm Lex Wilkinson and GUS Transport better known as White Arrow 121 During the 1980s Leonard Wolfson divested much of the companies retail and manufacturing business to concentrate on mail order Burberry finance and property sectors 12 While divesting the retail businesses GUS kept hold of the freeholds of the properties and added them to their property business GUS Property Management leasing the properties back to the purchasing businesses 122 123 In 1995 Marks and Spencers and GUS discussed a merger but it was eventually blocked by the M amp S board 124 In 1997 Great Universal Stores appointed Rose Marie Bravo as the new CEO of Burberry given the task of improving the company which had been hit by the Asian crisis 125 The company acquired Argos in 1998 in a hostile takeover bid 126 19 and the UK s second largest online retailer at the time Jungle com in 2000 for 37 million 127 In 2001 the company changed its name to GUS plc using the identifier GUS on the London Stock Exchange In November 2002 Homebase was acquired by GUS plc for 900 million where it formed part of the Argos Retail Group The previous month GUS had announced that the Jungle com business was also to be merged into the ARG division of the business and run from Argos Milton Keynes headquarters 128 From early in the year the Home Shopping division also embarked on a successful turnaround strategy helped by advisers managed by Rob Wherrett of Zymolysis 129 Canadian operations Edit With the purchase of British amp Colonial Furniture in 1945 GUS gained ownership of their first Canadian business Woodhouse amp Co 130 Great Universal Stores of Canada Limited was expanded with the further purchases of Legare Co C W Lindsay Forsts and Adams Furniture Co 130 In 1953 Isaac Wolfson investigated a merger of his Canadian operations with Canadian department store Robert Simpson but withdrew from the deal at the last minute 130 By 1964 GUS operated 125 furniture and appliance stores across Canada 131 Charles Wolfson Isaac s brother was formerly president 130 became chairman as of 1 January 1963 and John P Adderley became president and chief executive officer 132 The businesses included Woodhouse amp Co purchased 1945 130 Legare Co 130 Adams Furniture Co 130 C W Lindsay and Co 130 Forst s Ltd purchased 1955 130 In the early 1990s the Canadian company was fined 45 000 Canadian for misleading advertising the largest total fine during that fiscal year At that point the company was doing business under the name of Legare Woodhouse in Montreal and elsewhere in Quebec 133 The business was sold at a loss of 1 7 million in 1998 as GUS pulled out of the Canadian retail market 134 South African operations Edit In 1947 Isaac Wolfson visited South Africa on a fact finding mission for investments and purchased shares in the newly public issued furniture retailer Lewis Stores which operated 8 stores 135 Lewis Stores share holding was grown to take ownership of the business and further investments were made in manufacturing businesses Workwear Sweet our Lydbrook and Durban Bag Company 136 By 1956 Lewis Stores had grown to a 45 store chain 130 including the brands Lewis Stores Baron Furnishings Excelsior Meubels and a credit clothing store called Universal Stores 137 By 1964 the retail business had grown to 120 stores 131 In 1972 Universal Stores were sold to South African rival Edgars while 50 furniture stores were purchased from Edgar s and renamed Dan Hands and the business opened stores in Botswana Namibia and Swaziland 137 During the 1990s the furniture stores were rebranded under the Lewis brand and the electrical retailer Best Electricals was started up 137 The retail business by 2003 had a total of 395 stores under the Lewis and Best Electrical brands 138 GUS were put under pressure during the apartheid years regarding their investments 139 140 including pressure from Wolfson College Oxford which had been set up by a grant from the Wolfson Foundation 141 In 2003 it was announced the South African business would be partially floated on the Johannesburg market as part of the divestment of non core business 138 The remaining shares of the business were sold in 2005 142 America plans Edit In 1949 GUS applied to the UK government asking to extend their dollar facilities to 750 000 to invest in the US to increase the sale of British goods 143 144 In 1954 GUS made an approach to purchase the US mail order and department store group Montgomery Ward with a plan to invest 100 million in the business however the bid was rejected by Montgomery Ward s board 145 In December 1964 Isaac Wolfson announced they planned to expand into both the retail and manufacturing trades in the US 146 147 however no purchases were made GUS did set up Great Universal Stores Development Company Inc in 1964 148 to work with two American partners on property development and in 1968 set up a new subsidiary BRAMBEC as a commercial furniture contractor for its manufacturing businesses working in partnership with Holiday Inn 149 Travel amp holiday business Edit In 1956 GUS purchased Global Tours Europe s biggest coach tour company that had been formed by Harry Rosenthal Joe and Harry Shuman 150 151 152 adding Overland Tours later that year 20 GUS added a further business to its Global subsidiary Sunlight Holidays in 1962 20 By 1969 the Global business had grown and was delivering 150 000 Tours annually in the areas of air coach rail and cruise tours 153 Great Universal was a large shareholder in British Caledonian Airways 154 and Global formed a strong partnership with a time charter arrangement 155 156 By 1977 Global was offering low priced tours leaving from 10 different airports in the British Isles 157 The company however suffered from a blacklisting from Arab countries due to the company chairman being Lord Mancroft and the companies links to Israel 158 In 1985 as part of Leonard Wolfsons divesting plans Global along with its brands Overland and Golden Circle were sold to rival tour company Intasun 159 GUS Property Edit GUS Property divisions started out as an investment company developing modern office blocks including Dale Street in Manchester 160 Chatworth House 161 and in partnership with Gerald Ronson 162 The company also invested in retail developments including the 1985 development of St Nicholas Centre 163 while redeveloping the former Robb department store in Belfast into the Donegall Arcade 164 In the 1980s GUS started selling off its physical retail businesses but retained the freehold and leaseholds changing the company to GUS Property Management The company continued to invest in property by purchasing The Forge shopping centre in Glasgow from Arlington Retail for 35 million in 1993 165 and the Connswater Shopping Centre in Belfast for 23 25m in 1996 166 In 1997 GUS set up a joint company with British Land to manage the 900 million property portfolio held by GUS Property Management Called BL Universal British Land paid 230 million for its half share of the joint company 167 168 The new business sold or relinquished 894 properties either reinvesting in new property such as retail parks 169 or returning cash to the share holders In 2003 British Land purchased the remaining 50 shareholding from GUS for 120 million and paid off a 43 million loan that GUS had provided to BL Universal 170 Finance business Edit GUS purchased Whiteaway Laidlaw amp Co a British owned department store chain located in the far East in 1957 20 The business included several finance arms including General Guarantee Corp Ltd a company dealing in equipment leasing and hire purchase financing In 1964 Great Universal started selling motor insurance via their catalogues 171 In 1997 General Guarantee purchased the vehicle leasing company Highway Vehicle Management 172 The finance business was sold as part of the company refocus under David Wolfson and Victor Barnett 173 Highway Vehicle Management was sold to First National a division of Abbey National for around 170 million in 2000 172 with K C Finance its Channel Island subsidiary of General Guarantee Finance sold for 54 million 174 The remaining part of General Guarantee Finance was closed down in 2000 with the loss of 600 jobs after failing to find a buyer 175 The Whiteaway Laidlaw Bank was then transferred to the Home Retail Group and was sold in 2007 to the Manchester Building Society 176 Credit agency and direct marketing business Edit In the 1970s the Midland Household stores division of GUS developed a credit referencing system to help against bad debt on credit provided in its furniture stores It was such a success that it was offered to other parts of the GUS group and it grew and developed into direct marketing credit management and store cards 177 In 1980 GUS sought assistance from IBM who recommended that they sold its products to others thus the department became a separate organisation called Commercial Credit Nottingham CCN which sold its products to organisations outside of the GUS group 178 During 1984 GUS purchased Manchester Guardian Society for the Protection of Trade 179 In 1986 CCN bought US business MDS Management Decision Systems a specialist company developing credit scoring models 180 In November 1996 TRW sold their credit agency unit TRW Information Systems and Services Inc that operated under the name Experian to Bain Capital and Thomas H Lee Partners 181 Just one month later the two firms sold Experian to Great Universal Stores 182 GUS merged the business with CCN and renamed the business Experian 183 In 1997 GUS purchased US direct marketing company Direct Marketing Technology for 246 million 184 2000s divestment and demerger Edit The company started divesting its business by selling its Universal Versand business in April 2001 to the Otto group for 23 million 185 174 Its luxury brand The Scotch House was put up for sale but no buyer could be found and so the business was closed down in 2001 and its Knightsbridge store transferred to Burberry 186 The company expanded into new markets by buying the Reality Group a Web design hosting and e commerce consultancy business it had acquired for 35 million and merging it with its GUS Transport business known as White Arrow naming the combined business Reality 187 188 Later on in 2001 Breathe com at the time Britain s 4th largest internet service provider was purchased from near bankruptcy but was sold just three months later at a profit to Affinity Internet Holdings 189 190 In 2004 the company sold its traditional home shopping catalogues division in the UK and Scandinavia and its Reality business which included the White Arrow business to the Barclay twins for 590 million 191 who later merged the Littlewoods mail order operations into it 192 This included the iconic Great Universal Stores catalogue from which the company took its name and completed the departure of GUS from its original business areas Around the same time the Barclays announced the closure of the Littlewoods Index catalogue showroom chain the principal rival to Argos in the UK selling around 35 stores to Argos 193 Following a reorganization led by Barnett it was announced in May 2005 that GUS would divest its stake in Burberry by distributing Burberry shares to its own shareholders In October the Wehkamp business was sold to Swedish investment company Industri Kapital for 390 million euros selling the last remnant of the companies mail order business 194 The Burberry demerger was completed in December 2005 195 GUS plc ranked as the highest spending online advertiser in the US according to Nielsen NetRatings spending over US659m in 2006 196 The next ranked online advertiser Vonage had sales of just over US294m 196 On 28 March 2006 it was announced that the company would split into two separate businesses Home Retail Group and Experian with both companies listed separately on the London Stock Exchange as of 11 October 2006 197 GUS plc became a wholly owned subsidiary of Experian plc after the demerger and was renamed Experian Finance plc 198 Operations pre 1998 EditMail order catalogues in United Kingdom Edit Great Universal 3 John England 1933 3 Marshall Ward 1936 20 Kay amp Co Purchased 1937 3 Trafford Warehouse purchased 1938 20 Samuel Driver purchased 1938 20 Morses purchased 1947 20 The Royal Welsh Warehouse purchased 1954 20 Bollin House purchased 1961 20 Dyson and Horsfall purchased 1962 20 Chorlton Warehouse purchased 1963 20 John Noble purchased 1971 22 Greenbank and Meridien purchased 1976 24 All Yours Wigfalls at Home and Choice Mail Order purchased 1977 24 John Myers purchased 1981 27 Innovations purchased 1997 32 33 34 McCord s 33 Mail order catalogues in Europe Edit Wehkamp Holland purchased 1962 36 Universal Versand Austria purchased 1968 39 40 Hallens I Barrasford Sweden 37 purchased 1966 38 Verdia Switzerland purchased 1982 41 Family Album Republic of Ireland 199 Celtic Hampers Republic of Ireland purchased 1998 199 Department stores in the United Kingdom and Ireland Edit New Universal Stores chain of 10 department stores renamed Hills amp Steele in 1939 before being sold to British Home Stores in 1944 59 200 Leslie Stores and subsidiaries purchased 1940 62 63 John Dyer Southsea 61 Ben Evans Swansea London House Newport Bainbridges Lincoln Lincolnshire amp Wisbech purchased in 1949 20 J Robb amp Co Belfast Purchased in 1951 Closed in 1973 64 Attwoods Kidderminster bought by Kay amp Co in the 1950s 65 Bladons Hull purchased 1954 49 48 Jones amp Higgins Peckham acquired in 1954 Closed in 1980 66 67 before re opening as the Houndsditch before closing in 1984 80 Pim Brothers Dublin purchased 1955 62 68 Darling amp Co Edinburgh purchased in 1955 69 Bought by House of Fraser in January 1961 78 79 Houndsditch Warehouse Houndsditch London purchased in 1958 70 Closed in 1986 Beavans Byker bought in 1964 71 72 Butterfield and Massies Barnsley 49 73 Webbers Maidenhead 74 Wickhams London 49 Pyne Brothers London 62 Department stores outside the United Kingdom Edit Whiteaway Laidlaw amp Co purchased 1957 20 Operating stores in Far East and Kenya Drapers Edit W Brydson amp Co Perth 75 Evans and Allen Newport 76 Garrett amp Co Woolwich 76 77 Closed 1972 and replaced by a Times Furnishing store 84 Rees Howell Glamorgan 75 John Dyer Southsea 61 R W Pritchard Shephards Bush 61 Taylor Nottidge Group including subsidiaries 61 F Taylor amp Sons Lambeth J T Nottidge Islington Gergels Gravesend Beck Jones Lewisham John Williams amp Co Rotherhithe Heywoods Manor Park Penberthys of Oxford Street purchased 1955 20 Clothing retailers in the United Kingdom Edit Jays of Regent Street purchased 1946 97 Wilsons purchased 1947 20 Jax purchased 1949 20 John Temple purchased 1954 20 Rego Clothiers purchased 1954 76 201 77 Burberry purchased 1955 3 Scotch House purchased 1955 3 Weaver to Weaver purchased 1955 76 Morrisons and subsidiaries purchased 1957 20 98 75 Ashley Russell 20 Audrey 75 Cliftons 98 75 Edgar Allen 75 Graftons 20 75 Irene Adair 98 Paige 20 Sold to Combined English Stores in 1986 202 Neville Reed purchased 1957 20 Hector Powe purchased 1958 20 Hope Brothers purchased 1958 20 John Maxwell 100 J Marksmith amp Co purchased 1958 with subsidiary 75 Vogue Fashions 75 Headrow Clothiers purchased 1962 Manufacturing business sold to Manny Cussins company John Peters but retained the 88 Hipp Tailorfit stores 203 102 Willerby purchased 1968 53 Clothing retailers in Europe Edit 100 000 Chemises purchased 1972 103 104 105 Footwear Retailers Edit Flateau Group purchased 1956 Subsidiaries included 109 Henry Playfair Metropole Shoes Metropolitan Boot Co Greenlees amp Sons purchased 1957 Subsidiaries included 110 Easiphit Dicks J W Haylock Peter of Durham K Stanton amp Sons Sandra Lennards purchased 1973 111 112 Sold to Charterhall during the 1988 114 115 Businesses were merged into Greenlees Lennards Ltd 113 Grocery business Edit William Cussons purchased 1962 93 J C Carline Supermarkets subsidiary of Cussons 96 95 Discount retailers Edit Thoms Household Goods 9 purchased 1970 204 Furniture retailers Edit Hackney and Midland purchased 1934 46 Jays purchased 1943 205 46 Campbells purchased 1943 46 British and Colonial Furniture Company purchased 1945 205 with subsidiaries Cavendish Woodhouse Baron Furnishers purchased 1947 20 Smart Brothers purchased 1948 205 46 Jackson Stores purchased 1949 205 206 Waring amp Gillow purchased 1953 207 Partially sold 1960 Oetzmann amp Co purchased 1954 48 Godfrey 49 James Broderick 49 Times Furniture purchased 1968 208 53 S Aston amp Sons purchased 1968 54 Furniture contractors Edit BRAMBEC 149 Australian operations Edit Patersons Australian furniture chain 70 share bought 1974 Remaining shares bought 1977 209 105 Electrical retailers Edit Boyds purchased 1948 20 116 W H Barnes 69 J amp F Stone Lighting and Radio Ltd purchased 1971 116 210 DIY stores Edit Art Wallpapers purchased 1958 20 Great Clowes Discount Warehouse 89 90 91 Home Charm 92 Travel Agents and Tour Companies Edit Globe Tours purchased 1956 20 Overland Tours purchased 1956 20 Sunlight Holidays purchased 1962 20 Brought together under Global name 211 Manufacturing Edit Myers amp Morris furniture purchased 1937 212 Tyne Plywood Works purchased 1945 213 Tyne Furniture Works purchased 1945 213 49 Rylands amp Sons purchased 1953 214 215 and subsidiaries Dacca Mills Lintex Vyse Sons amp Co Stapley amp Smith Victoria Mill purchased 1954 216 Burberry purchased 1955 3 Polikoff clothing purchased 1948 217 218 JF Willis Cinderella Shoes purchased 1960 219 Universal Furniture Products 49 Gill amp Reigate furniture manufacturers 49 Joseph Johnstone furniture manufacturer 49 Northern Bedding 49 Commercial Plastics Ltd 110 W C Grace amp Sons Carpets 110 John Woodrow amp Sons Silk Goods 110 Joseph Johnson of Lichwinnoch Furniture 110 T G Hunt amp Sons Footwear 110 Munn and Felton Footwear 110 Barretts of Staffordshire Pottery purchased 1948 110 220 Sherrion Hosiery and Knitwear 110 Greenlees amp Sons Footwear 110 Scottish Textile amp Manufacturing Company purchased 1965 221 Bollington Textile Printers 222 David Hollander amp Sons Ltd Silver plated goods purchased 1970 223 Rank Bush Murphy purchased 1978 224 Hobbies Dolls furniture maker closed 1968 225 Pantherella plc purchased 1987 high end sock brand 226 Finance and credit data business Edit All Counties Insurance Company 227 General Guarantee for Finance 228 Highway Vehicle Management purchased 1997 229 Whiteaway Laidlaw Bank 227 230 CCN Commercial Credit Nottingham 231 Manchester Guardian Society for the Protection of Trade purchased 1984 179 TRW Information Systems and Services Inc Thompson Ramo Woolridge purchased 1996 231 Direct Marketing Technology 232 Metromail 233 purchased 1998 234 Printing and Photography business Edit Ebenezer Baylis 235 GT Cheshires amp Sons 235 Carlton Studios sold 1973 236 237 Property Management and Development Edit Great Universal Stores Development Company Inc 148 BL Universal 238 239 Operations 1998 onwards EditThe company had three main divisions ARG The Argos Retail Group subsequently demerged to become Home Retail Group which consisted of several subdivisions including Argos previously an independent company once owned by British American Tobacco the UK s largest catalogue retailer Homebase formerly owned and founded by J Sainsbury a DIY home improvement retailer ARG Financial Services provider of store card services such as the Argos Card and Argos insurance products Reality Group merger of GUS Transport business known as White Arrow and Reality Group a Web design hosting and e commerce consultancy business it had acquired for 35 million 187 188 Breathe com Internet service provider purchased in 2001 selling it three months later 189 Experian a credit reporting agencySee also EditWolfson familyReferences Edit a b c Annual Report for the year ended 31 March 2006 GUS plc Retrieved 20 February 2023 Why shopping empire has been lured south to Golden Triangle Sky News 12 April 2018 a b c d e f g h i j k l m n The Monopolies and Mergers Commission January 1983 The Great Universal Stores PLC PDF The Great Universal Stores PLC and Empire Stores Bradford PLC a report on the existing and proposed mergers The Competition Commission Archived from the original PDF on 25 October 2007 Retrieved 25 October 2011 a b c d e Aris Stephen 1970 6 Sir Isaac Wolfson The Jews in Business London Penguin Books Pelican ISBN 0 14 021629 4 a b Everone in Britain Buys From Him The Sentinel 12 March 1964 pp 10 11 40 PHILANTHROPIST ISAAC WOLFSON DIES AT AGE 93 Washington Post 23 June 1991 Wolfson of Sunningdale Who s Who doi 10 1093 ww 9780199540884 013 U40467 ISBN 978 0 19 954088 4 Retrieved 19 April 2020 Paid Notice Deaths HYMAN EDITH WOLFSON BARNETT The New York Times 17 January 1997 a b c d Philip Harris Ivan Fallon 2017 Magic Carpet Ride ISBN 9781785903274 Steve Baron Peter Jones ed 1991 Macmillan Dictionary of Retailing p 231 The big break up The Manchester Evening News 15 February 2007 a b Adeney Martin 17 June 2010 Lord Wolfson obituary The Guardian 06 Princeton Alumni Weekly Vol 38 1937 Notable Corporate Chronologies Vol 1 2001 p 998 ISBN 9780787650506 R J Chambers 1973 Securities and Obscurities A Case for Reform of the Law of Company Accounts p 168 ISBN 9781920898304 William Mennell 1962 Takeover The Growth of Monopoly in Britain 1951 61 p 32 P Scott 1996 The Property Masters A history of the British commercial property sector p 122 ISBN 0419209506 Bullock L 1994 Isaac Wolfson Bt 1 October 1897 20 June 1991 Obituary Biographical Memoirs of Fellows of the Royal Society 40 422 426 doi 10 1098 rsbm 1994 0048 S2CID 56548439 a b GUS stuns City by launching hostile pounds 1 6bn bid for Argos The Independent 4 February 1998 a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al am an ao ap aq ar as at au av aw Trotman Dickenson D I 17 May 2014 Economic Workbook and Data A Tutorial Volume for Students p 157 ISBN 9781483158112 Hope Church takes over Newtown s Royal Welsh Warehouse BBC News 17 February 2014 a b Henry Battle Investor Chronicle and Stock Exchange Gazette Vol 18 1971 p 332 A amp S Henry amp Co Ltd Archive Hub Retrieved 9 December 2021 a b c d Parliamentary Papers Volume 35 1982 p 19 History S amp U plc Retrieved 14 January 2022 S amp U Stores Ltd Advertisers Weekly Vol 201 1963 p 55 a b UDS Group Ltd Retail Business No 275 286 1981 Great Universal Stores Investor Chronicle amp Financial World 1983 p 54 Ann R Everton David J Hughes 2000 Studies in Public Law and the Retail Sector ISBN 9781138703575 MMC reject merger British Business Vol 10 1983 p 53 Empire Stores Retail Business Retail trade reviews No 9 16 1989 p 50 a b Business AFM Challenge PDF Northumberland University a b c Wainwright Matthew 17 April 2003 At last an end to all those handy pocket sized Innovations catalogues The Guardian a b Thomas Derdak Jay P Pederson 1999 International Directory of Company Histories Vol 28 p 30 ISBN 9781558623873 Arcadia Group What went wrong Retail Gazette 2 December 2020 a b Simme D P Flapper Jo van Nunen Luk N van Wassenhove eds 2006 Managing Closed Loop Supply Chains p 97 ISBN 9783540272519 a b Hollander S C 1970 Multinational Retailing p 112 ISBN 9780877441007 a b The New Dawn 1966 p 84 a b Austria Retail Trade International Vol 1 2000 p 23 a b Major Companies of Europe Vol 6 2001 p 428 a b Moody s International Manual 1998 p 8842 Euromarket news Common Market Reports 1972 p 4 Simme D P Flapper Jo van Nunen Luk N van Wassenhove eds 2005 Managing Closed Loop Supply Chains p 97 ISBN 3540406980 Mail Order in Netherlands Marketing in Europe 326 331 77 78 1990 6 5 6 Distance Shopping Retail Trade International Vol 1 2000 p 341 a b c d e f g h i Edwards Clive 2017 Turning Houses into Homes ISBN 9781351877275 The New Dawn 1956 p 8 a b c d The New Dawn 1956 p 9 a b c d e f g h i j k l m n Great Universal Stores Labour Review 44 64 1955 The New Dawn 1963 p 134 Hire PurchaseVolume 538 debated on Tuesday 22 March 1955 Hansard 22 March 1955 Blooming Lacquers New Scientist 19 10 October 1957 a b c d Havenhand Greville 1970 Nation of Shopkeepers p 66 ISBN 9780413270801 a b GUS Acquires Controlling Interest in Furniture Business The Estates Gazette Vol 207 1968 p 39 Cavendish House Cheltenham Ltd vs Cavendish Woodhouse Ltd academia 1968 Labour Research Vol 74 75 1985 p 13 Great Universal Stores Retail Business Retail trade reviews No 17 24 1997 p 57 Zellers Ltd Annual Report to Shareholders PDF McGill Library 31 January 1939 a b New Dawn 1963 p 133 Great Universal Stores The Statist 124 3515 3540 862 1945 a b c d e f g New Dawn 1956 p 10 a b c d e f Great Universal Stores Agenda Co operative Management Magazine Vol 9 10 1961 p 40 a b HM Treasury 1952 Reports of Tax Cases Vol 31 a b c 1874 J Robb amp Co Department Store Castle Place Belfast Archiseek Irish Architecture 25 January 2014 Retrieved 6 December 2021 a b Kays Heritage Group Archived from the original on 22 March 2015 Retrieved 27 November 2014 a b Jones and Higgins Rye Lane Peckham 1963 Southwark Galleries Ideal homes org uk 29 September 2010 Retrieved 30 March 2015 a b Chambers R J 2006 Securities and Obscurities A Case for Reform of the Law of Company Accounts p 168 ISBN 9781920898304 a b Cartel Cartel Vol 5 1955 p 33 a b c d United Kingdom Cartel 5 25 1955 a b The Great Universal Stores Limited The Economist Vol 193 14 November 1959 p 455 a b Bevans Department Store becomes 30 flats Chronicle Live 8 October 2009 permanent dead link a b Beavans Switch Sales Aporoach Newcastle Journal 5 February 1969 p 7 a b Universities amp Left Review Vol 1 7 1957 p 41 a b Agenda Co operative Management Magazine Agenda Co operative Management Vol 9 10 191 p 40 a b c d e f g h i j k l m n o p q r The New Dawn 1963 p 134 a b c d e f g h GUS goes ahead Cartel Vol 44 1955 p 33 a b c Great Universal Stores Ltd New Commonwealth 28 216 1954 a b Marwick William H 16 December 2013 Scotland in Modern Times William H Marwick Google Books ISBN 9781136935572 Retrieved 30 March 2015 a b The New Dawn 1963 p 237 a b Central Peckham Historical Area Assessment PDF English Heritage ISSN 1749 8775 Archived from the original PDF on 6 November 2015 Retrieved 13 July 2015 Houndsditch City of London Hidden London Retrieved 12 January 2022 The British Land Company Annual Report 2000 PDF 2000 p 28 Houndsditch 133 Houndsditch London EC3A 7BX realla Retrieved 17 January 2022 a b Survey of London Woolwich 2012 p 211 ISBN 9780300187229 30319 flickr 27 April 2014 Retrieved 12 January 2022 No 9 10 High Street High Street Wisbech Retrieved 12 January 2021 Butterfield amp Massey building Market Hill now Walkabout Pinterest Retrieved 12 January 2021 a b 1980 Glancing back Barnsley Chronicle 22 June 2018 a b Obituary Herman Martyn MBE The Jewish Times 20 December 2018 a b Fallon Ivan 1988 The Brothers The Rise amp Rise of Saatchi amp Saatch p 118 ISBN 9780091708900 a b Great Clowes Discount Warehouse The Estate Gazette 1973 p 386 a b Steve Baron Peter Jones 1991 Macmillan Dictionary of Retailing p 231 ISBN 9781349218394 a b Enter Gussies The Economist Vol 204 1962 p 840 Carson David 1967 Jnternational Marketing A Comparative Systems Approach p 392 a b GUS now goes in for supermarkets The Guardian 24 August 1962 p 14 a b Associated British Foods Investors Chronicle and Stock Exchange Gazette Vol 9 1969 p 364 a b Great Universal Stores The Economist Vol 151 1946 p 601 a b c d e f Bull George Vice Anthony 1958 Bid for Power p 63 Walter Wolfe The Herald 2 February 2013 a b Rubinstein WD Jolles M Rubinstein HL 2011 Rubinstein William D Jolles Michael Rubinstein Hilary L eds The Palgrave Dictionary of Anglo Jewish History p 437 ISBN 9781403939104 Katrina Honeyman 2000 Well Suited A History of the Leeds Clothing Industry 1850 1990 p 280 ISBN 0199202370 a b Isaac Wolfson the man and his management International Management Vol 19 1964 p 26 a b Vision the European Business Magazine Vision No 26 31 1973 p 65 a b Hammwr Alexander R 21 June 1972 Merger News The New York Times a b c Lionel Faraday Gray Jonathan Love 1975 Jane s Major Companies of Europe p B 138 ISBN 9780354005142 Key British Enterprise Vol 2 1985 p 1 926 a href Template Cite magazine html title Template Cite magazine cite magazine a Missing or empty title help GUS The Times 9 December 1983 Combined English Shops hoists its dividend Glasgow Herald 1 April 1987 a b Tax Cases Reported Under the Direction of the Board of Inland Revenue 1967 pp 438 442 a b c d e f g h i j k The New Dawn 1963 p 135 a b Other foreign ventures dominated the merger field The New York Times 30 June 1973 a b Mount Ferdinand 2021 Kiss Myself Goodbye The Many Lives of Aunt Munca p 47 ISBN 9781472991980 a b Jane s Major Companies of Europe 1977 p B 98 ISBN 9780531032640 a b Morris Richard 2018 Early Warning Indicators of Corporate Failure p 336 ISBN 9780429857935 a b Smith Terry 1992 Accounting for Growth Stripping the Camouflage from Company Accounts p 35 ISBN 9780712657648 a b c d Jane s Major Companies of Europe 1976 p B 109 ISBN 9780354005326 Trade and Industry Vol 3 1971 p 612 Multiples Mergers Retail Business Vol 221 226 1976 Arnold E 1985 Competition and Technological Change in the Television Industry An Empirical Evaluation of Theories of the Firm p 155 ISBN 9781349074921 Beerman s Financial Year Book of Europe 1976 p B 109 Scope for home deliveries Commercial Motor 22 September 1984 Great Universal Stores Retail Business Retail trade reviews No 17 24 1991 p 57 Thomas Derdak Adele Hast 1992 International Directory of Company Histories Vol 5 p 69 ISBN 9781558620612 Martin Kornberger 2021 Strategy Theory and Practice p 254 ISBN 9781849201513 Can this woman do a Gucci on Burberry Forbes 24 January 2000 BBC News Business Argos attacks GUS offer news bbc co uk Jungle com goes cheap BBC News 1 September 2000 Retrieved 25 October 2011 project Thus pips BT to 70m Scottish broadband lines AOL UK chalks up 100k LLU blogs China targets Jungle com folded into Argos The Register Clients www zymolysis biz a b c d e f g h i j Porter Mckenzie 14 April 1956 Isaac Wolfson s silent invasion of Canada Macleans a b British Retail Giant Plans U S Branches Great Universal Said to Slate Expansion Here in 2 Years Store Group s Chief Sir Isaac Wolfson Lists Proposals The New York Times 9 December 1964 Great Universal Stores of Canada Appointments advertisement The Gazette Montreal 3 January 1963 p 13 Retrieved 20 May 2010 Competition policy in OECD countries 1993 1994 Organisation for Economic Co operation and Development 1 January 1997 p 117 ISBN 9789264154766 Retrieved 20 May 2010 Burberry is not really tailor made for Far East Birmingham Post 25 June 1998 Mendel Kaplan 1986 Jewish Roots in the South African Economy p 163 ISBN 9780869773208 Great Universal Stores Sessional Papers Vol 9 1973 p 827 a b c Lewis Group History Lewis Group Retrieved 7 January 2022 a b GUS plans South African float The Guardian 28 May 2003 Apartheid Opponents Focus on Foreign Firms The Washington Posr 21 June 1987 p 2 Universities to press S Africa compsirs The Times 28 August 1978 Dr Mark Pottle and Professor Erica Charters February 2021 Wolfson and Colonialism PDF Burberry and Argos freed in GUS split The Guardian 26 May 2005 Great Universal Stores Ltd Dollar Facilities Volume 460 debated on Tuesday 25 January 1949 Hansard 25 January 1949 Retrieved 14 January 2022 Congress United States April 1949 Congressional Record Proceedings and Debates of the 81st congress Vol 95 p 3587 June 27 30 July 1 3 1958 pp 831 1518 1958 p 925 Senate United States Congress 1965 Hearings Volume 6 United States Congress Senate p 255 British Retail Giant Plans U S Branches Great Universal Said to Slate Expansion Here in 2 Years Store Group s Chief Sir Isaac Wolfson Lists Proposals New York Times 9 December 1964 a b International Management Vol 19 1964 a b More Mergers Diversification Hotel amp Motel Management Vol 183 1968 p 13 Global Tours Achievement Vol 26 1959 p 19 The New Dawn 1958 p 19 Nigel Evans George Stonehouse David Campbell 2011 Strategic Management for Travel and Tourism p 379 ISBN 978 0750648547 Retail Business Retail Business No 137 142 July 1969 p 19 Hansard 1971 British Airlines p xlviii Institut du transport aerien 1972 Vertical integration in the travel and leisure industry p 13 Tour Companies ICAO Bulletin Vol 28 1973 p 22 A Shopper s Guide Tour Bundles From Britain New York Times 30 January 1977 Todd M Endelman 2002 The Jews of Britain 1656 to 2000 p 245 ISBN 0520227190 C Critcher Peter Bramham Alan Tomlinson eds 1995 Sociology of Leisure A Reader p 173 ISBN 0419194207 Contract Information The Electrical Review 194 1 11 21 1974 A Development by GUS Property Investment Ltd The Estates Gazette Vol 228 no 1 1973 p 194 Property News Investors Chronicle and Stock Exchange Gazette Vol 20 1972 p 1249 British Shopping Developments Investors Chronicle Vol 76 1986 p 28 Donegall Arcade Future Belfast Retrieved 27 February 2023 The Forge shopping centre sold for 35m The Herald 21 September 1993 Belfast on a shopping spree The Irish Times 31 January 1996 Thomas Derdak Jay P Pederson 2002 International Directory of Company Histories Vol 47 p 168 ISBN 9781558624658 The Investment Column British Land profits from deals Thd Independent 11 June 1997 British Land Co plc Investegate 18 April 2000 British Land purchases outstanding 50 interest in BL Universal PLC from GUS PLC British Land 17 November 2003 International Management Vol 19 1964 p 26 a b First National swoops on Highway Vehicle Management Fleet News 3 August 2000 GUS shares surge on sell off plan The Independent 3 November 1998 a b Great Universal Stores Annual Report June 2001 Investegate GUS cuts 600 jobs BBC News 1 August 2000 Manchester Building Society sells Whiteaway Laidlaw Manchester Evening News 31 January 2011 Anne Howarth Barry Stanton Margaret Sinclair Hunt 1993 Information Systems Management p 45 ISBN 9780744600629 How Experian Built A Business Around Data Forbes 24 April 2016 a b COMPANY NEWS IN BRIEF The Times 25 June 1984 Elizabeth Mays ed 2001 Handbook of Credit Scoring p 24 ISBN 9781888988017 Experian Investors Reap Substantial Returns Los Angeles Times 15 November 1996 Retrieved 27 April 2020 GUS shares soar on pounds 1bn acquisition The Independent 15 November 1996 Archived from the original on 26 January 2012 Retrieved 4 March 2018 Large British Retailer to buy US credit data company The New York Times 15 November 1996 Archived from the original on 2 February 2009 Retrieved 18 April 2011 GUS goes on 246m US shopping spree The Independent 14 April 1997 Universal Versand will Erster werden Der Standard 3 April 2001 Fashion Institute of Design amp Merchandising Museum 7 October 2015 a b GUS Announces Major Thrust Into Fulfilment Market Post amp Parcel 1 May 2001 a b 5m profit in first year of operation that s Reality Northern Echo 27 June 2001 a b Great Universal set to offload Breathe com Irish Examiner 12 April 2001 Affinity Takes Breathe Away from GUS WARC 11 June 2001 Barclays gamble with 590m GUS mail order takeover The Independent 28 May 2003 Business GUS sells catalogue business 27 May 2003 Jobs to go as Index stores close BBC 19 April 2005 Retrieved 19 April 2020 GUS vend ses magasins d equipement de maison a Industri Kapital Les Echos 31 October 2005 permanent dead link Business GUS to demerge stake in Burberry 25 May 2005 a b The Most Tivo d Shows Naughty or Nice for Advertisers Breaking News World News amp Multimedia Experian Finance plc Companies House Retrieved 19 April 2020 a b Putting their billions to better use Irish Times 18 January 2003 Waterson Kirstie 10 September 2021 BHS revolutionised Evening Telegraph Snippets Men s Wear Vol 130 1954 p 67 Combined English Shops hoists its dividend Glasgow Herald p 1 April 1987 Retrieved 17 November 2015 Katrina Honeyman 2000 Well Suited A History of the Leeds Clothing Industry 1850 1990 p 280 ISBN 0199202370 Great Universal Stores The Accountant Vol 163 1970 p 782 a b c d Jefferies James B 2011 Retail Trading in Britain 1850 1950 p 425 ISBN 9781107602731 Records amp Statistics Records amp Statistics Vol 8 1950 p 277 Waring J S 1850 1900 British and Irish Furniture Makers Online Retrieved 6 December 2021 Furniture retailers The Southern Lumberman Vol 217 1968 p 60 Nathan Sir Maurice Arnold 1914 1982 Sir Maurice Arnold Nathan Retrieved 10 January 2022 a href Template Cite book html title Template Cite book cite book a website ignored help Trade and Industry Vol 3 1971 p 612 Great Universal Stores Investors Chronicle Vol 82 1987 p 21 Hilary Thomas John Cowell 2012 An industrious minority a history of the Bolton Jewish community PDF p 178 a b The New Dawn 1956 p 10 Lesley Richmond Bridget Stockford 1986 Company Archives The Survey of the Records of 1000 of the First Registered Companies in England and Wales p 142 Rylands amp Sons Bulletin of the John Rylands University Library of Manchester 1993 p 76 Victoria Mill The Last Working Mill in Turton Turton History 2 May 2021 William D Rubinstein Michael Jolles Hilary L Rubinstein 2011 The Palgrave Dictionary of Anglo Jewish History p 764 ISBN 9781403939104 Our Timeline Treorchy Sewing Enterprise Retrieved 11 April 2023 The charity that can t even give money away Worcester News 1 June 2009 D J Machin Robert Leslie Smyth 1970 The Changing Structure of the British Pottery Industry 1935 1968 p 59 ISBN 9780902437005 Kays Archive Research Collections University of Worcester Library Services Retrieved 13 December 2021 The Stock Exchange Official Year book 1973 p 1323 Who Owns Whom United Kingdom and Republic of Ireland 1972 p 249 Asli M Colpan Takashi Hikino ed 2018 Business Groups in the West Origins Evolution and Resilience p 138 ISBN 9780198717973 Nicola Lisle 2020 Life in Miniature A History of Dolls Houses p 75 ISBN 9781526751812 Kenneth D George ed 1988 Mergers and Acquisitions Year Book p 349 ISBN 9781349100057 a b Moody s International Manual 1996 p 10402 Verity Andrew 2 November 1998 GUS to sell finance arm for pounds 1 2bn The Independent Argos owner sells business Belfast Telegraph Manchester BS in 5m bank swoop Manchester Evening News 21 February 2003 a b Smith Corey P 2013 Conspiracy of Credit pp 3 4 ISBN 9780615809564 Cope Nigel 14 April 1997 GUS goes on 246m US shopping spree The Independent Sullivan B 2004 Your Evil Twin Behind the Identity Theft Epidemic ISBN 9780471679714 Glave James 16 March 1998 Metromail Sale Opens Privacy Questions Wired a b Scott Andy 15 November 2001 Baylis sale marks GUS exit from print Print Week Giant of the small screen Profile Michael Green The Independent 1 December 1996 P Bonner L Aston 1998 Independent Television in Britain ITV and IBA 1981 92 The Old Relationship Changes Vol 5 p 286 ISBN 9781349396184 Howarth Anita 17 November 2003 British Land Buys out JV Partner for 260M GlobesSt com Jay P Pederson Thomas Derdak 1988 International Directory of Company Histories Vol 54 p 40 ISBN 9781558624849 Further reading EditGreat Universal Stores 25 years of progress 1932 The Growth and Activities of the Great Universal Stores Limited under the direction of Mr Isaac Wolfson London 1957 Retrieved from https en wikipedia org w index php title GUS retailer amp oldid 1157342921, wikipedia, wiki, book, books, library,

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