The Rise and Fall of Department Store Dynasties

It’s the 1960s and as Americans flee cities for the suburbs, Macy’s and Gimbels face tough choices. How do they compete with the rise of discount retailers and the exciting new shopping palaces known as malls? Weakened by industry disruption, both stores become vulnerable to the new wave of financial tactics — takeovers and leveraged buyouts. One store’s fateful decision during this transition period will end with it closing its doors forever.

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