GUS plc was an
FTSE 100
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is a share index of the 100 companies listed on the London Stock Exchange with (in principle) the highest market ...
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. The company started out as Universal Stores, a mail order business created by the Rose family.
In 1931,
Isaac Wolfson
Sir Isaac Wolfson, 1st Baronet FRS (; 17 September 1897 – 20 June 1991) was a Scottish businessman and philanthropist. He was managing director of Great Universal Stores (G.U.S. or Gussies) 1932–1947 and chairman 1947–1987. He establish ...
joined the mail order company and would, through a series of takeovers, turn it into a retail, manufacturing and financial conglomerate,
becoming Europe's biggest mail order firm and with over 2,700 physical stores.[ His son, ]Leonard Wolfson
Leonard Gordon Wolfson, Baron Wolfson, Fellow of the Royal Society, FRS (11 November 1927 – 20 May 2010) was a British businessman, the former chairman of GUS (retailer), GUS, and son of GUS magnate Isaac Wolfson, Sir Isaac Wolfson, 1st Baronet ...
, followed him as chairman, to be succeeded by his nephews David Wolfson (1996–2000) and Victor Barnett
Victor J. Barnett (born 1933) is a British-American businessman, former executive chairman of Burberry, and member of the Wolfson family.
Early life and education
Victor Jules Barnett was born in London, England, in 1933 to Esmond Barnett and E ...
(2000–2002). During the 1980s, the business divested much of its physical retail and manufacturing subsidiaries under Leonard Wolfson
Leonard Gordon Wolfson, Baron Wolfson, Fellow of the Royal Society, FRS (11 November 1927 – 20 May 2010) was a British businessman, the former chairman of GUS (retailer), GUS, and son of GUS magnate Isaac Wolfson, Sir Isaac Wolfson, 1st Baronet ...
to concentrate on mail order, property and finance. In October 2006, the company was split into two separate companies: Experian
Experian is an American–Irish multinational data analytics and consumer credit reporting company. Experian collects and aggregates information on over 1 billion people and businesses including 235 million individual U.S. consumers and more t ...
which continues to exist, and Home Retail Group
Home Retail Group plc was a home and general merchandise retailer based in the United Kingdom. It was the parent company of Argos and Habitat, and once owned the do it yourself chain Homebase before selling it to the Australian retailer Wesfarme ...
which was bought by Sainsbury's
J Sainsbury plc, trading as Sainsbury's, is the second largest chain of supermarkets in the United Kingdom, with a 14.6% share of UK supermarket sales.
Founded in 1869 by John James Sainsbury with a shop in Drury Lane, London, the company wa ...
in 2016.
History
Universal Stores was founded in 1900 as a mail-order business in Manchester
Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of Salford to the west. The t ...
, 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. In 1930, the company changed its name to Great Universal Stores Limited. The next year it was listed on the London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
. At this stage, it was the leading mail order
Mail order is the buying of goods or services by mail delivery. The buyer places an order for the desired products with the merchant through some remote methods such as:
* Sending an order form in the mail
* Placing a telephone call
* Placing a ...
business in the UK, with a single catalogue, ''Great Universal''. A second catalogue, ''John England'', was launched later in 1933. The company set up a chain of department stores in a joint venture with American businessman Charley Nicholls called New Universal Stores.
In 1931, Isaac Wolfson
Sir Isaac Wolfson, 1st Baronet FRS (; 17 September 1897 – 20 June 1991) was a Scottish businessman and philanthropist. He was managing director of Great Universal Stores (G.U.S. or Gussies) 1932–1947 and chairman 1947–1987. He establish ...
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. The flotation of the company was not a huge success, and with an ill-advised move to London the share price dropped.[ 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,][ who subsequently resigned in 1934 leaving Wolfson in sole charge. 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.][ He was ]chairman
The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...
from the late 1940s until his retirement in 1987. Wolfson grew GUS by offering 'A' ordinary shares, which had no voting rights, or by selling the premises and leasing it back. Through his wealth gained at Great Universal Stores, he established the Wolfson Foundation
The Wolfson Foundation is a charity that awards grants to support excellence in the fields of science and medicine, health, education and the arts and humanities.
Overview
The endowment of the Wolfson Foundation is currently some £800 million, ...
in 1955. Until 1997, GUS had 48 years of consecutive profit growth.[
]
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. Two further mail order firms were purchased in 1938, Trafford Warehouse and Samuel Driver.[
After ]World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
, the expansion of the mail order business restarted with the purchase of Morses in 1947.[ This was followed by the purchase of the famous mail order business of ]Pryce Pryce-Jones
Sir Pryce Pryce-Jones (16 October 1834 – 11 January 1920) was a Welsh entrepreneur who formed the first mail order business, revolutionising how products were sold. Creating the first mail order catalogues in 1861 – which consisted of w ...
, The Royal Welsh Warehouse, which was acquired in 1954.[ The company further expanded the mail order business during the 1960s by buying rivals Bollin House (1961),][ Dyson and Horsfall (1962)][ and Chorlton Warehouse (1963).][
GUS acquired A & S Henry & Co group in 1971 after a battle with fellow retailing group ]United Drapery Stores
United Drapery Stores, or UDS, was a British retail group that dominated the British high street from the 1950s to the early 1980s.
Early history
In 1925, Charterhouse Bank set up Charterhouse Investment Trust. The trust started buying up dep ...
. 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''; In 1977 the business of Henry Wigfall
Wigfall is a surname. Notable people with the surname include:
* Clare Wigfall (born 1976), British writer
* James Wigfall (1942–1978), African-American stage actor
*Louis Wigfall
Louis Trezevant Wigfall (April 21, 1816 – February 18, ...
& Son Ltd catalogue business of ''All Yours'', ''Wigfalls at Home'' and ''Choice Mail Order'' were purchased,[ and in 1981 GUS acquired the ''John Myers Home Shopping'' catalogue business from UDS Group plc.] 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. However, in 1983 the Monopolies & Mergers Commission vetoed a merger of GUS with rival Empire which GUS had already purchased 36% of the shares in. Two thirds of the shares in Empire was sold to a Dutch company, Vendex, with GUS retaining a 12% holding. UK operations were grown in 1997 with the purchase of most of Arcadia
Arcadia may refer to:
Places Australia
* Arcadia, New South Wales, a suburb of Sydney
* Arcadia, Queensland
* Arcadia, Victoria
Greece
* Arcadia (region), a region in the central Peloponnese
* Arcadia (regional unit), a modern administrative un ...
Group's catalogue business, which included the catalogues Innovations and McCord.
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. This was increased by Swedish catalogue Hallens I. Barrasford which was purchased in 1966 and the Austrian mail order firm Universal Versand in 1968. The last purchase was Verdia in Switzerland, which was purchased in 1982 The Wehkamp catalogue was expanded by its parent company, GUS Holland BV, by purchasing smaller Dutch rival Bertels in 1970, moving into the Belgium and Germany markets and offering separate catalogues selling everything from flower bulbs to furniture and holding a third of the mail order market in Holland. GUS expanded Halens catalogue into the Finnish market in 1997.
Furniture business growth
In 1934, Great Universal started to grow its furniture business by purchasing the Midland and Hackney chains.[ This was followed in 1943 by the purchase of the Jays and Campbell chains for £1.2 million from its owner Sir Julien Cahn,][ and British and Colonial Furniture Company in 1945, along with its Cavendish, Woodhouse and Dale chains for £1 million][ and the manufacturing business of Tyne Plywood Works. Smart Brothers furniture chain was added in 1948 for a further £1 million.][ In 1946, a Working Party report stated its concerns about GUS purchases:][
They continued to buy furniture stores, with Oetzmann & Co. purchased in 1954,][ Godfrey and James Broderick stores added.][ 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. 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. In 1957, GUS funded research by the Furniture Development Council into blooming caused by lacquers used on furniture products. In 1968, GUS purchased the combined furniture and menswear group Times-Willerby, adding The Times Furnishing Company to its furniture retail portfolio,][ while also purchasing the Welsh-based furniture retailer S. Aston & Sons in 1968.][ During the same year GUS was taken to Court by ]Cheltenham
Cheltenham (), also known as Cheltenham Spa, is a spa town and borough on the edge of the Cotswolds in the county of Gloucestershire, England. Cheltenham became known as a health and holiday spa town resort, following the discovery of mineral s ...
department store Cavendish House
Cavendish House is Cheltenham's oldest and leading department store
A department store is a retail establishment offering a wide range of consumer goods in different areas of the store, each area ("department") specializing in a product ...
about using the Cavendish name on the former Dale furniture store. 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. The 375 store business was sold to Harris Queensway in 1986, for an exchange of a 20% shareholding in Harris Queensway.[
]
Department stores and Drapery's
In 1937, Charley Nicholls, the part owner of New Universal Stores sold his shares to Zellers
Zellers was a Canadian discount department retail chain and is currently a brand name owned by the Hudson's Bay Company (HBC). Founded in 1931 in London, Ontario, in later decades it was based in Brampton, Ontario. Zellers was acquired by HBC i ...
, the Canadian retailer, 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
British Home Stores, commonly abbreviated to BHS and latterly legally styled BHS Ltd, was a British department store chain, primarily selling clothing and household items. In its later years, the company began to expand into furniture, electron ...
in 1944. 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,
Ben Evans in Swansea and London House in Newport were purchased in 1940. World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
briefly slowed the growth, but after the war Bainbridges of Lincoln, Lincolnshire
Lincoln () is a cathedral city, a non-metropolitan district, and the county town of Lincolnshire, England. In the 2021 Census, the Lincoln district had a population of 103,813. The 2011 census gave the urban area of Lincoln, including North H ...
& Wisbech
Wisbech ( ) is a market town, inland Port of Wisbech, port and civil parish in the Fenland District, Fenland district in Cambridgeshire, England. In 2011 it had a population of 31,573. The town lies in the far north-east of Cambridgeshire, bord ...
was purchased in 1949,[ quickly followed by J Robb & Co of ]Belfast
Belfast ( , ; from ga, Béal Feirste , meaning 'mouth of the sand-bank ford') is the capital and largest city of Northern Ireland, standing on the banks of the River Lagan on the east coast. It is the 12th-largest city in the United Kingdo ...
in 1951. GUS subsidiary, Kays purchased the Kidderminster
Kidderminster is a large market and historic minster town and civil parish in Worcestershire, England, south-west of Birmingham and north of Worcester. Located north of the River Stour and east of the River Severn, in the 2011 census, it had ...
store Attwoods, while in 1954 Bladons of Hull and Jones & Higgins Peckham
Peckham () is a district in southeast London, within the London Borough of Southwark. It is south-east of Charing Cross. At the United Kingdom Census 2001, 2001 Census the Peckham ward had a population of 14,720.
History
"Peckham" is a Saxon p ...
were acquired. The company added Pim Brothers (Dublin) and Darling & Co. Edinburgh
Edinburgh ( ; gd, Dùn Èideann ) is the capital city of Scotland and one of its 32 Council areas of Scotland, council areas. Historically part of the county of Midlothian (interchangeably Edinburghshire before 1921), it is located in Lothian ...
in 1955, Houndsditch Warehouse, Houndsditch, London in 1958 and
Beavans in Byker
Byker is a district in the east of the city and metropolitan borough of Newcastle upon Tyne. Home to the Byker Wall estate, made famous by TV series ''Byker Grove'', Byker’s population was recorded at 12,206 in the 2011 census. Byker is borde ...
in 1964. Other department stores acquired during this time included Butterfield and Massies of Barnsley
Barnsley () is a market town in South Yorkshire, England. As the main settlement of the Metropolitan Borough of Barnsley and the fourth largest settlement in South Yorkshire. In Barnsley, the population was 96,888 while the wider Borough has ...
, Webbers of Maidenhead
Maidenhead is a market town in the Royal Borough of Windsor and Maidenhead in the county of Berkshire, England, on the southwestern bank of the River Thames. It had an estimated population of 70,374 and forms part of the border with southern Bu ...
, Wickhams and Pyne Brothers both of London.[ GUS also purchased during this period smaller Drapery Stores, many of which offered credit to their customers. These included W. Brydson & Co of Perth,][ Evans and Allen of Newport,][ Garrett & Co of ]Woolwich
Woolwich () is a district in southeast London, England, within the Royal Borough of Greenwich.
The district's location on the River Thames led to its status as an important naval, military and industrial area; a role that was maintained throu ...
, Rees Howell in Glamorgan,[ R. W. Pritchard in Shephards Bush,][ the Taylor-Nottidge Group which included the subsidiaries:][
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.][
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
House of Fraser (also operating as Frasers) is a British department store group with 44 locations across the United Kingdom, which is now part of Frasers Group. It was established in Glasgow, Scotland in 1849 as Arthur and Fraser. By 1891, it w ...
in January 1961. J Robb & Co was closed in 1973, as was Pim Brothers in 1967, both being rented out by GUS Property before being redeveloped.[ Jones & Higgins was closed as a department store in 1980, becoming a branch of Houndsditch Warehouse before it eventually closed in 1984,] with Houndsditch itself closing in 1986 and being redeveloped by GUS Property as 133 Houndsditch, an office development. Garrett & Co in Woolwich
Woolwich () is a district in southeast London, England, within the Royal Borough of Greenwich.
The district's location on the River Thames led to its status as an important naval, military and industrial area; a role that was maintained throu ...
was closed 1972 and replaced by a Times Furnishing store, while the likes of Bainbridges and Butterfield and Massies were converted into Thoms discount stores.[
]
Early Do it yourself stores
In 1958, GUS purchased Art Wallpapers, a chain of paint and wall covering stores.[ The business was grown by adding more stores, as well as purchasing further DIY retailers Great Clowes Discount Warehouse,] and Home Charm. 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.[
]
Grocery retail business
In 1962, the business moved into the grocery business by buying William Cussons, a northern based chain, which operated a further 40 Carline Supermarkets.[ These businesses were sold to ]Associated British Foods
Associated British Foods plc (ABF) is a British multinational food processing and retailing company headquartered in London, England. Its ingredients division is the world's second-largest producer of both sugar and baker's yeast and a major pr ...
grocery business Fine Fare
Fine Fare was a chain of supermarkets in the United Kingdom. Their Yellow Pack budget private label, own-label range, introduced in 1980, was the first Value brands in the United Kingdom, own brand basic ranges to be introduced in the UK.
His ...
in November 1968.
Clothing retail
After the Second World War
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...
, Wolfson expanded GUS into the world of clothing retailing. It purchased the retail chains, Jays of Regent Street in 1946; ladys outfitters Wilsons in 1947[
followed by Jax in 1949.][ During 1954, mens tailoring chain John Temple][ was purchased along with Rego Clothiers.][ Two high end retailers, ]Burberry
Burberry is a British luxury fashion house established in 1856 by Thomas Burberry headquartered in London, England. It currently designs and distributes ready to wear, including trench coats (for which it is most famous), leather accessories, ...
and The Scotch House were added to the company's portfolio in 1955 along with national chain Weaver to Weaver.[ Two years later GUS purchased the multiple retailer Morrisons Associated Companies, which included its subsidiaries,] Ashley Russell;[ Audrey;][ Cliftons;][ Edgar Allen;][ Graftons;][ Irene Adair] and Paige.[ It also added in 1957 the men's tailoring stores of Neville Reed.][ The following year saw GUS expand its clothing empire by buying the men's tailoring chains of Hector Powe and Hope Brothers][ (which included subsidiary
John Maxwell)] and ladies outfitters J.Marksmith & Co. with its subsidiary[ Vogue Fashions.][ 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.] 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.[ The company expanded into European markets in 1972 by purchasing the French men's retailer 100,000 Chemises.][
]
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 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[ 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.] The businesses were merged into a new company called Greenlees Lennards Ltd. The combined company was sold to Charterhall during 1988.
Other retail and manufacturing growth
GUS developed its manufacturing businesses in the 1950s, with products including clothing, bedding, upholstery, textiles and pottery.
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. A joint venture started in 1984 between commercial delivery firm Lex Wilkinson and GUS Transport, better known as White Arrow. During the 1980s, Leonard Wolfson divested much of the companies retail and manufacturing business, to concentrate on mail order, Burberry, finance and property sectors.[ 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.
In 1995, ]Marks and Spencers
Marks and Spencer Group plc (commonly abbreviated to M&S and colloquially known as Marks's or Marks & Sparks) is a major British multinational retailer with headquarters in Paddington, London that specialises in selling clothing, beauty, home ...
and GUS discussed a merger but it was eventually blocked by the M & S board. In 1997, Great Universal Stores appointed Rose Marie Bravo
Rose Marie Bravo (born Rose Marie La Pila January 13, 1951 in the Bronx, New York) is an American businesswoman. During her career, she has occupied leadership positions in several major fashion businesses and is now vice chairman at Burberry, of ...
as the new CEO of Burberry given the task of improving the company, which had been hit by the Asian crisis. The company acquired Argos
Argos most often refers to:
* Argos, Peloponnese, a city in Argolis, Greece
** Ancient Argos, the ancient city
* Argos (retailer), a catalogue retailer operating in the United Kingdom and Ireland
Argos or ARGOS may also refer to:
Businesses
...
in 1998 in a hostile takeover bid and the UK's second largest online retailer at the time, Jungle.com, in 2000 for £37 million.
In 2001 the company changed its name to GUS plc using the identifier GUS on the London Stock Exchange. In November 2002, Homebase
Homebase is a British home improvement retailer and garden centre with stores across the United Kingdom and Republic of Ireland. Founded by Sainsbury's and GB-Inno-BM in 1979, the company was owned by Home Retail Group from October 2006, unti ...
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
Milton Keynes ( ) is a city and the largest settlement in Buckinghamshire, England, about north-west of London. At the 2021 Census, the population of its urban area was over . The River Great Ouse forms its northern boundary; a tributary ...
headquarters. From early in the year the Home Shopping division also embarked on a successful turnaround strategy helped by advisers managed by Rob Wherrett
Rob or ROB may refer to:
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* Rob, Velike Lašče, a settlement in Slovenia
* Roberts International Airport (IATA code ROB), in Monrovia, Liberia
People
* Rob (given name), a given name or nickname, e.g., for Robert(o), Robin/Robyn
* Rob ( ...
of Zymolysis.
Canadian operations
With the purchase of British & Colonial Furniture in 1945, GUS gained ownership of their first Canadian business, Woodhouse & Co.[ Great Universal Stores of Canada Limited was expanded with the further purchases of Legare Co., C. W. Lindsay, Forsts and Adams Furniture Co.][ 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.][ By 1964, GUS operated 125 furniture and appliance stores across Canada.][ Charles Wolfson, Isaac's brother was formerly president,][ became chairman as of 1 January 1963, and ]John P. Adderley
John is a common English name and surname:
* John (given name)
* John (surname)
John may also refer to:
New Testament
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* Gospel of John, a title often shortened to John
* First Epistle of John, often shortened to 1 John
* Second E ...
became president and chief executive officer.
The businesses included:
* Woodhouse & Co (purchased 1945)
* Legare Co.[
* Adams Furniture Co.][
* C. W. Lindsay and Co.][
* Forst's Ltd. (purchased 1955)][
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. The business was sold at a loss of £1.7 million in 1998, as GUS pulled out of the Canadian retail market.
]
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 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. By 1956, Lewis Stores had grown to a 45 store chain[ including the brands Lewis Stores, Baron Furnishings, Excelsior Meubels and a credit clothing store called Universal Stores.] By 1964 the retail business had grown to 120 stores. 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.[ During the 1990s the furniture stores were rebranded under the Lewis brand, and the electrical retailer Best Electricals was started up.][ The retail business by 2003 had a total of 395 stores under the Lewis and Best Electrical brands.]
GUS were put under pressure during the apartheid years regarding their investments, including pressure from Wolfson College, Oxford
Wolfson College () is a constituent college of the University of Oxford in England. Located in north Oxford along the River Cherwell, Wolfson is an all-graduate college with around sixty governing body fellows, in addition to both research and ...
, which had been set up by a grant from the Wolfson Foundation
The Wolfson Foundation is a charity that awards grants to support excellence in the fields of science and medicine, health, education and the arts and humanities.
Overview
The endowment of the Wolfson Foundation is currently some £800 million, ...
.
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. The remaining shares of the business were sold in 2005.
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. In 1954, GUS made an approach to purchase the US mail order and department store group Montgomery Ward
Montgomery Ward is the name of two successive U.S. retail corporations. The original Montgomery Ward & Co. was a world-pioneering mail-order business and later also a leading department store chain that operated between 1872 and 2001. The curren ...
with a plan to invest $100 million in the business, however the bid was rejected by Montgomery Ward's board. In December 1964, Isaac Wolfson announced they planned to expand into both the retail and manufacturing trades in the US, however no purchases were made. GUS did set up Great Universal Stores Development Company Inc. in 1964 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
Holiday Inn is an American chain of hotels based in Atlanta, Georgia. and a brand of IHG Hotels & Resorts. The chain was founded in 1952 by Kemmons Wilson, who opened the first location in Memphis, Tennessee that year. The chain was a division ...
.
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 adding Overland Tours later that year.[ GUS added a further business to its Global subsidiary, Sunlight Holidays in 1962.][ By 1969, the Global business had grown and was delivering 150,000 Tours annually, in the areas of air, coach rail and cruise tours. Great Universal was a large shareholder in British Caledonian Airways, and Global formed a strong partnership with a time charter arrangement. By 1977, Global was offering low priced tours leaving from 10 different airports in the British Isles. The company however suffered from a blacklisting from Arab countries due to the company chairman being Lord Mancroft, and the companies links to Israel. 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.
]
GUS Property
GUS Property divisions started out as an investment company developing modern office blocks, including Dale Street in Manchester, Chatworth House, and in partnership with Gerald Ronson
Gerald Maurice Ronson, CBE (born 27 May 1939) is a British business tycoon and philanthropist. He became known in the UK as one of the 'Guinness Four' for his part in the Guinness share-trading fraud of the 1980s as a result of which he was conv ...
. The company also invested in retail developments, including the 1985 development of St Nicholas Centre. 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 and the ''Connswater Shopping Centre'' in Belfast for £23.25m in 1996. In 1997, GUS set up a joint company with British Land
The British Land Company plc is one of the largest property development and investment companies in the United Kingdom. The firm became a real estate investment trust when REITs were introduced in the UK in January 2007. It is headquartered in ...
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. The new business sold or relinquished 894 properties, either reinvesting in new property, such as retail parks, 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.
Finance business
GUS purchased Whiteaway, Laidlaw & Co, a British owned department store chain located in the far East in 1957.[ 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. In 1997 General Guarantee purchased the vehicle leasing company Highway Vehicle Management.]
The finance business was sold as part of the company refocus under David Wolfson and Victor Barnett. Highway Vehicle Management was sold to First National, a division of Abbey National for around £170 million in 2000,[ with K.C Finance, its Channel Island subsidiary of General Guarantee Finance sold for £54 million.][ The remaining part of General Guarantee Finance was closed down in 2000 with the loss of 600 jobs after failing to find a buyer. The Whiteaway Laidlaw Bank was then transferred to the Home Retail Group, and was sold in 2007 to the ]Manchester Building Society
The Manchester Building Society is a building society which offers savings accounts via its branch in Manchester City Centre at 125 Portland Street, Manchester, England
It is a member of the Building Societies Association and Financial Ombudsman ...
.
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. In 1980, GUS approached 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. During 1984 GUS purchased Manchester Guardian Society for the Protection of Trade. In 1986, CCN bought US business MDS (Management Decision Systems), a specialist company developing credit scoring models.
In November 1996, TRW sold their credit agency unit TRW Information Systems and Services Inc, that operated under the name Experian to Bain Capital
Bain Capital is an American private investment firm based in Boston. It specializes in private equity, venture capital, credit, public equity, impact investing, life sciences, and real estate. Bain Capital invests across a range of industry se ...
and Thomas H. Lee Partners
Thomas H. Lee Partners, L.P. is an American private equity firm based in Boston investing in middle market growth companies across financial technology and services, healthcare and technology & business solutions.
History
Founded in 1974 by ...
. Just one month later, the two firms sold Experian to Great Universal Stores. GUS merged the business with CCN and renamed the business Experian. In 1997, GUS purchased US direct marketing company Direct Marketing Technology for $246 million.
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. 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. 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. 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.
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, who later merged the Littlewoods mail order operations into it. 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
Index was a catalogue retailer in the United Kingdom, that was owned by Littlewoods from 1985 until 2005. Many Index stores were attached to Littlewoods stores. It was a well known retailer in the 1980s and the 1990s, but sales declined in the n ...
catalogue showroom chain, the principal rival to Argos in the UK, selling around 35 stores to Argos.
Following a reorganization led by Barnett, it was announced in May 2005 that GUS would divest its stake in Burberry
Burberry is a British luxury fashion house established in 1856 by Thomas Burberry headquartered in London, England. It currently designs and distributes ready to wear, including trench coats (for which it is most famous), leather accessories, ...
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. The Burberry demerger was completed in December 2005. GUS plc ranked as the highest-spending online advertiser in the US, according to Nielsen NetRatings, spending over $US659m in 2006.[The Most Tivo'd Shows: Naughty or Nice for Advertisers?]
/ref> The next-ranked online advertiser, Vonage
Vonage (, legal name Vonage Holdings Corp.) is an American cloud communications provider operating as a subsidiary of Ericsson. Headquartered in Holmdel Township, New Jersey, the organization was founded in 1998 as ''Min-X'' as a provider of resi ...
, had sales of just over $US294m.[
On 28 March 2006, it was announced that the company would split into two separate businesses, ]Home Retail Group
Home Retail Group plc was a home and general merchandise retailer based in the United Kingdom. It was the parent company of Argos and Habitat, and once owned the do it yourself chain Homebase before selling it to the Australian retailer Wesfarme ...
and Experian
Experian is an American–Irish multinational data analytics and consumer credit reporting company. Experian collects and aggregates information on over 1 billion people and businesses including 235 million individual U.S. consumers and more t ...
, with both companies listed separately on the London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...
as of 11 October 2006. GUS plc became a wholly owned subsidiary of Experian plc after the demerger and was renamed Experian Finance plc.
Operations pre 1998
Mail order catalogues in United Kingdom
* Great Universal
* John England (1933)
* Marshall Ward (1936)[
* Kay & Co. Purchased 1937.]
* Trafford Warehouse purchased 1938[
* Samuel Driver purchased 1938][
* Morses purchased 1947][
* The Royal Welsh Warehouse purchased 1954][
* Bollin House purchased 1961][
* Dyson and Horsfall purchased 1962][
* Chorlton Warehouse purchased 1963][
* John Noble purchased 1971][
* Greenbank and Meridien purchased 1976][
* All Yours, Wigfalls at Home and Choice Mail Order purchased 1977][
* John Myers purchased 1981][
* Innovations purchased 1997]
** McCord's[
]
Mail order catalogues in Europe
* Wehkamp (Holland) purchased 1962.
* Universal Versand (Austria) purchased 1968
* Hallens I. Barrasford (Sweden) purchased 1966
* Verdia (Switzerland) purchased 1982
* Family Album (Republic of Ireland)
* Celtic Hampers (Republic of Ireland) purchased 1998
Department stores in the United Kingdom and Ireland
* New Universal Stores - chain of 10 department stores, renamed Hills & Steele in 1939 before being sold to British Home Stores
British Home Stores, commonly abbreviated to BHS and latterly legally styled BHS Ltd, was a British department store chain, primarily selling clothing and household items. In its later years, the company began to expand into furniture, electron ...
in 1944.
* Leslie Stores and subsidiaries purchased 1940:
**John Dyer (Southsea)[
** Ben Evans (Swansea)
** London House (Newport)
* Bainbridges (]Lincoln, Lincolnshire
Lincoln () is a cathedral city, a non-metropolitan district, and the county town of Lincolnshire, England. In the 2021 Census, the Lincoln district had a population of 103,813. The 2011 census gave the urban area of Lincoln, including North H ...
& Wisbech
Wisbech ( ) is a market town, inland Port of Wisbech, port and civil parish in the Fenland District, Fenland district in Cambridgeshire, England. In 2011 it had a population of 31,573. The town lies in the far north-east of Cambridgeshire, bord ...
) purchased in 1949[
* J Robb & Co (]Belfast
Belfast ( , ; from ga, Béal Feirste , meaning 'mouth of the sand-bank ford') is the capital and largest city of Northern Ireland, standing on the banks of the River Lagan on the east coast. It is the 12th-largest city in the United Kingdo ...
) Purchased in 1951. Closed in 1973.
* Attwoods (Kidderminster
Kidderminster is a large market and historic minster town and civil parish in Worcestershire, England, south-west of Birmingham and north of Worcester. Located north of the River Stour and east of the River Severn, in the 2011 census, it had ...
) bought by Kay & Co. in the 1950s.
* Bladons ( Hull) purchased 1954.[
* Jones & Higgins (]Peckham
Peckham () is a district in southeast London, within the London Borough of Southwark. It is south-east of Charing Cross. At the United Kingdom Census 2001, 2001 Census the Peckham ward had a population of 14,720.
History
"Peckham" is a Saxon p ...
) acquired in 1954. Closed in 1980, before re-opening as the Houndsditch before closing in 1984.
* Pim Brothers (Dublin) purchased 1955
* Darling & Co. (Edinburgh
Edinburgh ( ; gd, Dùn Èideann ) is the capital city of Scotland and one of its 32 Council areas of Scotland, council areas. Historically part of the county of Midlothian (interchangeably Edinburghshire before 1921), it is located in Lothian ...
) purchased in 1955.[ Bought by House of Fraser in January 1961.]
* Houndsditch Warehouse ( Houndsditch, London) purchased in 1958. Closed in 1986.
* Beavans (Byker
Byker is a district in the east of the city and metropolitan borough of Newcastle upon Tyne. Home to the Byker Wall estate, made famous by TV series ''Byker Grove'', Byker’s population was recorded at 12,206 in the 2011 census. Byker is borde ...
) bought in 1964.
* Butterfield and Massies (Barnsley
Barnsley () is a market town in South Yorkshire, England. As the main settlement of the Metropolitan Borough of Barnsley and the fourth largest settlement in South Yorkshire. In Barnsley, the population was 96,888 while the wider Borough has ...
)
* Webbers (Maidenhead
Maidenhead is a market town in the Royal Borough of Windsor and Maidenhead in the county of Berkshire, England, on the southwestern bank of the River Thames. It had an estimated population of 70,374 and forms part of the border with southern Bu ...
)
* Wickhams (London
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...
)[
* Pyne Brothers (London)][
]
Department stores outside the United Kingdom
* Whiteaway, Laidlaw & Co. purchased 1957.[ Operating stores in Far East and Kenya.
]
Drapers
* W. Brydson & Co (Perth)[
* Evans and Allen ( Newport)][
* Garrett & Co (]Woolwich
Woolwich () is a district in southeast London, England, within the Royal Borough of Greenwich.
The district's location on the River Thames led to its status as an important naval, military and industrial area; a role that was maintained throu ...
)[ Closed 1972 and replaced by a Times Furnishing store.]
* Rees Howell (Glamorgan)[
* John Dyer (Southsea)][
* R. W. Pritchard (Shephards Bush)][
* Taylor-Nottidge Group including subsidiaries:][
** 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][
]
Clothing retailers in the United Kingdom
* Jays of Regent Street purchased 1946[
* Wilsons purchased 1947][
* Jax purchased 1949][
* John Temple purchased 1954][
* Rego Clothiers purchased 1954][
* ]Burberry
Burberry is a British luxury fashion house established in 1856 by Thomas Burberry headquartered in London, England. It currently designs and distributes ready to wear, including trench coats (for which it is most famous), leather accessories, ...
purchased 1955.
* Scotch House
Scotch most commonly refers to:
* Scotch (adjective), a largely obsolescent adjective meaning "of or from Scotland"
**Scotch, old-fashioned name for the indigenous languages of the Scottish people:
***Scots language ("Broad Scotch")
*** Scottish G ...
purchased 1955.
* Weaver to Weaver purchased 1955.
* Morrisons (and subsidiaries) purchased 1957[
** Ashley Russell][
** Audrey][
** Cliftons][
** Edgar Allen][
** Graftons][
** Irene Adair][
** Paige.][ Sold to Combined English Stores in 1986.
*Neville Reed purchased 1957][
* Hector Powe purchased 1958.][
* Hope Brothers purchased 1958.][
**John Maxwell ]
* J.Marksmith & Co. purchased 1958 with subsidiary:[
**Vogue Fashions][
* Headrow Clothiers purchased 1962. Manufacturing business sold to Manny Cussins company, John Peters, but retained the 88 Hipp/Tailorfit stores.]
* Willerby purchased 1968[
]
Clothing retailers in Europe
* 100,000 Chemises purchased 1972[
]
Footwear Retailers
* Flateau Group purchased 1956. Subsidiaries included:
** Henry Playfair
** Metropole Shoes
** Metropolitan Boot Co.
* Greenlees & Sons purchased 1957. Subsidiaries included:[
** Easiphit
** Dicks
** J.W. Haylock
** Peter of Durham
** K. Stanton & Sons
** Sandra
* Lennards purchased 1973.] Sold to Charterhall during the 1988.
(Businesses were merged into Greenlees Lennards Ltd.)
Grocery business
* William Cussons purchased 1962[
** J.C. Carline Supermarkets subsidiary of Cussons]
Discount retailers
* Thoms Household Goods purchased 1970
Furniture retailers
* Hackney and Midland purchased 1934[
* Jays purchased 1943][
* Campbells purchased 1943]
* British and Colonial Furniture Company purchased 1945[ with subsidiaries:
** Cavendish
** Woodhouse
* Baron Furnishers purchased 1947]
* Smart Brothers purchased 1948[
* Jackson Stores purchased 1949][
* ]Waring & Gillow
Waring & Gillow (also written as Waring and Gillow) was a noted firm of English furniture manufacturers and antique dealers formed in 1897 by the merger of Gillows of Lancaster and London and Waring of Liverpool.
Background Gillow & Co.
The fir ...
purchased 1953 Partially sold 1960.
* Oetzmann & Co. purchased 1954.[
* Godfrey][
* James Broderick][
* Times Furniture purchased 1968.]
* S. Aston & Sons purchased 1968.
Furniture contractors
*BRAMBEC
Australian operations
* Patersons. Australian furniture chain. 70% share bought 1974. Remaining shares bought 1977.
Electrical retailers
* Boyds purchased 1948[
* W H Barnes][
* J & F Stone Lighting and Radio Ltd purchased 1971]
DIY stores
* Art Wallpapers purchased 1958[
* Great Clowes Discount Warehouse]
* Home Charm
Travel Agents and Tour Companies
* Globe Tours purchased 1956[
* Overland Tours purchased 1956][
* Sunlight Holidays purchased 1962][
(Brought together under Global name)
]
Manufacturing
* Myers & Morris (furniture) purchased 1937
* Tyne Plywood Works
* Tyne Furniture Works[
* Rylands & Sons purchased 1953 and subsidiaries:
** Dacca Mills
** Lintex
** Vyse Sons & Co
** Stapley & Smith
* Victoria Mill purchased 1954.
* ]Burberry
Burberry is a British luxury fashion house established in 1856 by Thomas Burberry headquartered in London, England. It currently designs and distributes ready to wear, including trench coats (for which it is most famous), leather accessories, ...
purchased 1955.
* Polikoff (clothing)
* JF Willis (Cinderella Shoes) purchased 1960
* Universal Furniture Products[
* Gill & Reigate][
* Joseph Johnstone][
* Northern Bedding][
* Commercial Plastics Ltd]
* W.C. Grace & Sons (Carpets)[
* John Woodrow & Sons (Silk Goods)][
* Joseph Johnson of Lichwinnoch (Furniture)][
* T.G. Hunt & Sons (Footwear)][
* Munn and Felton (Footwear)][
* Barretts of Staffordshire (Pottery)][
* Sherrion (Hosiery and Knitwear)][
* Greenlees & Sons (Footwear)][
* Scottish Textile & Manufacturing Company purchased 1965
* Bollington Textile Printers
* David Hollander & Sons Ltd (Silver plated goods) purchased 1970
* Rank Bush Murphy purchased 1978
* Hobbies (Dolls furniture maker) closed 1968
* Pantherella plc purchased 1987 (high end sock brand)
]
Finance and credit data business
* All Counties Insurance Company[
* General Guarantee for Finance
* Highway Vehicle Management purchased 1997
* Whiteaway Laidlaw Bank]
* CCN (Commercial Credit Nottingham)
* Manchester Guardian Society for the Protection of Trade purchased 1984.
* TRW Information Systems and Services Inc (Thompson Ramo Woolridge) purchased 1996[
* Direct Marketing Technology
* Metromail purchased 1998
]
Printing and Photography business
* Ebenezer Baylis
* GT Cheshires & Sons[
* Carlton Studios sold 1973
]
Property Management and Development
* Great Universal Stores Development Company Inc.
* BL Universal
Operations 1998 onwards
The company had three main divisions:
* ARG – The Argos Retail Group, subsequently demerged to become Home Retail Group
Home Retail Group plc was a home and general merchandise retailer based in the United Kingdom. It was the parent company of Argos and Habitat, and once owned the do it yourself chain Homebase before selling it to the Australian retailer Wesfarme ...
, which consisted of several subdivisions, including
**Argos
Argos most often refers to:
* Argos, Peloponnese, a city in Argolis, Greece
** Ancient Argos, the ancient city
* Argos (retailer), a catalogue retailer operating in the United Kingdom and Ireland
Argos or ARGOS may also refer to:
Businesses
...
(previously an independent company, once owned by British American Tobacco
British American Tobacco plc (BAT) is a British multinational company that manufactures and sells cigarettes, tobacco and other nicotine products. The company, established in 1902, is headquartered in London, England. As of 2019, it is the large ...
) – the UK's largest catalogue retailer
**Homebase
Homebase is a British home improvement retailer and garden centre with stores across the United Kingdom and Republic of Ireland. Founded by Sainsbury's and GB-Inno-BM in 1979, the company was owned by Home Retail Group from October 2006, unti ...
(formerly owned and founded by J Sainsbury
J Sainsbury plc, trading as Sainsbury's, is the second largest chain of supermarkets in the United Kingdom, with a 14.6% share of UK supermarket sales.
Founded in 1869 by John James Sainsbury with a shop in Drury Lane, London, the company ...
) – a DIY (home improvement) retailer
**ARG Financial Services – provider of store card services, such as the Argos Card
Argos Limited, trading as Argos, is a catalogue retailer operating in the United Kingdom and Ireland, acquired by Sainsbury's supermarket chain in 2016. It was established in November 1972 and is named after the Greek city of Argos. The company ...
and Argos
Argos most often refers to:
* Argos, Peloponnese, a city in Argolis, Greece
** Ancient Argos, the ancient city
* Argos (retailer), a catalogue retailer operating in the United Kingdom and Ireland
Argos or ARGOS may also refer to:
Businesses
...
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.
**Breathe.com - Internet service provider purchased in 2001, selling it three months later.
*Experian
Experian is an American–Irish multinational data analytics and consumer credit reporting company. Experian collects and aggregates information on over 1 billion people and businesses including 235 million individual U.S. consumers and more t ...
– a credit reporting agency
See also
* Wolfson family
The Wolfson family is a British Jewish family known for its business, philanthropic, and political activities. The family owes its initial fame to Sir Isaac Wolfson, who built the Great Universal Stores retail empire and created the Wolfson Found ...
References
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
{{Authority control
Companies formerly listed on the London Stock Exchange
Retail companies based in London
Defunct retail companies of the United Kingdom
Retail companies disestablished in 2006
1900 establishments in England
Retail companies established in 1900
British companies established in 1900