Drapery Trust

From Wikipedia, the free encyclopedia
Drapery Trust
TypeHolding company
IndustryRetail
Founded1925; 97 years ago (1925)
FounderClarence Hatry
Defunct1970s
SuccessorDebenhams
Headquarters
London Edit this on Wikidata
,
United Kingdom Edit this on Wikidata

Drapery Trust was formed in 1925 by Clarence Hatry, a notorious British Financier. He had made his fortune in speculating on oil stocks,[1] and had convinced investors to promote department stores and bring them under the management of a retail conglomerate.[2]

The business grew with a number of acquisitions:

The business was acquired by Debenhams in 1927.[3]

The business was kept as a separate subsidiary from the main Debenhams group, but with board members of Debenhams joining the board of the trust.[4] At the time it was reported that Drapery Trust controlled 60 stores of department and specialist kind.[5] The Drages business was sold in 1937 to Great Universal Stores.[6]

In the 1970s it was decided to bring all the business under one brand, and so the stores of the Drapery Trust were either converted into Debenhams, or were closed.[7]

References[]

  1. ^ Lord of Finance by Liaquat Ahamed
  2. ^ "Mr. Clarence Hatry has been prominent in London for some". The Spectator Archive. Retrieved 31 October 2014.
  3. ^ "Swan and Edgar". British Empire. Retrieved 4 July 2020.
  4. ^ Dundee Courier 23/11/1927
  5. ^ Pittsburgh Post Gazaette 13/3/1928
  6. ^ "Drages Ltd". Retrieved 11 December 2014.
  7. ^ Nicky Findley. "Debenhams store to get makeover". Bournemouth Echo. Retrieved 31 October 2014.

External links[]

Retrieved from ""