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Wickes Furniture

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BUSINESS
February 12, 1986
John Klein has been named president of Wickes Furniture, a unit of Santa Monica-based Wickes Cos.
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CALIFORNIA | LOCAL
October 16, 2009 | Valerie J. Nelson
Fresh out of Stanford law school in 1951, Irving Sulmeyer knocked on the doors in Los Angeles of what are euphemistically called "white-shoe" law firms -- established, powerful and, at the time, far from ethnically diverse. Because he was Jewish, no one would hire him, his family and colleagues said, so he started his own practice. The firm -- long called Sulmeyer, Kupetz, Baumann & Rothmann -- became known for its work on bankruptcy and insolvency cases and its founder was regarded as an expert on bankruptcy law. Sulmeyer, 82, died of cancer Sept.
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BUSINESS
April 4, 1989 | MARTHA GROVES, Times Staff Writer
Wickes Furniture, a retail chain owned by Wickes Cos. of Santa Monica, is being sold to a group including the retailer's management and a company that specializes in selling companies to employees, reliable sources said Monday. The price will be between $150 million and $200 million, the sources said. Since buying Wickes Cos. last December for $538.9 million, a New York partnership formed by the investment firms of Wasserstein, Perella & Co.
NEWS
May 13, 1991
E. L. McNeely, former chairman of Wickes Corp. and communications-oriented Oak Industries, died Sunday at the Green Hospital Cancer Clinic in La Jolla. He was 72. His career in retailing began with Montgomery Ward in Chicago, where he became divisional merchandise manager before joining Wickes in 1964. He rose to chairman and chief executive officer of the furniture and home improvement chain in 1969 and retired in 1982.
BUSINESS
April 14, 1989
Wickes Merger Approved: Shareholders of Santa Monica-based Wickes Cos. have approved the proposed merger with WCI Holdings. The merger, which is the final step in the acquisition of all outstanding shares of common stock by WCI Holdings, became effective immediately. WCI Holdings is jointly owned by Blackstone Capital Partners L.P. and Wasserstein Perella Partners L.P. Wickes' new owners have been selling off assets from the retailing-manufacturing conglomerate since they acquired an 88% stake in Wickes on Dec. 8 for about $539 million.
BUSINESS
November 26, 1988 | From wire and staff reports
Wickes Cos. said it will sell its credit card subsidiary for about $300 million to a corporation founded by two company executives, the firm announced Friday. The deal for WCI Financial Corp., expected to close Wednesday, is separate from the $538.9-million acquisition of Wickes by two New York investment groups, Wickes spokesman Michael Sitrick said. WCI President James E. Neese and Wickes Vice President and Treasurer Ervin J.
BUSINESS
November 2, 1988 | NANCY YOSHIHARA, Times Staff Writer
The New York buyers of Wickes Cos. said Tuesday that they expect to sell some or all of the Santa Monica company's retail operations, possibly including the Builders Emporium and Wickes Furniture chains. The disclosure is the latest in a rapid-fire round of changes surfacing in the week since the investment banking firms of Blackstone Group and Wasserstein Perella & Co. agreed to buy Wickes for $538.9 million in cash and stock.
BUSINESS
March 21, 1986 | NANCY YOSHIHARA, Times Staff Writer
In a major shift of direction, Wickes Cos. announced Thursday that it is leaving the general retailing business and will divest four of its retail operations. The company said it will use funds from the sale of those units, along with $500 million from a new debt offering, to accumulate a "war chest" to make a major acquisition soon. Sanford C.
MAGAZINE
July 27, 1986 | NANCY YOSHIHARA, Nancy Yoshihara is a Times financial writer
A passengers quickly de plane, clear customs and head to two taxis that depart for a hotel on the other end of the tiny Atlantic island. s dusk begins to fall, a sleek white Canadair Challenger jet descends from gray clouds, touching down on an airstrip on the east tip of Bermuda. Its four passengers quickly deplane, clear customs and head to two taxis that depart for a hotel on the other end of the tiny Atlantic island.
NEWS
May 13, 1991
E. L. McNeely, former chairman of Wickes Corp. and communications-oriented Oak Industries, died Sunday at the Green Hospital Cancer Clinic in La Jolla. He was 72. His career in retailing began with Montgomery Ward in Chicago, where he became divisional merchandise manager before joining Wickes in 1964. He rose to chairman and chief executive officer of the furniture and home improvement chain in 1969 and retired in 1982.
BUSINESS
April 14, 1989
Wickes Merger Approved: Shareholders of Santa Monica-based Wickes Cos. have approved the proposed merger with WCI Holdings. The merger, which is the final step in the acquisition of all outstanding shares of common stock by WCI Holdings, became effective immediately. WCI Holdings is jointly owned by Blackstone Capital Partners L.P. and Wasserstein Perella Partners L.P. Wickes' new owners have been selling off assets from the retailing-manufacturing conglomerate since they acquired an 88% stake in Wickes on Dec. 8 for about $539 million.
BUSINESS
April 4, 1989 | MARTHA GROVES, Times Staff Writer
Wickes Furniture, a retail chain owned by Wickes Cos. of Santa Monica, is being sold to a group including the retailer's management and a company that specializes in selling companies to employees, reliable sources said Monday. The price will be between $150 million and $200 million, the sources said. Since buying Wickes Cos. last December for $538.9 million, a New York partnership formed by the investment firms of Wasserstein, Perella & Co.
BUSINESS
November 26, 1988 | From wire and staff reports
Wickes Cos. said it will sell its credit card subsidiary for about $300 million to a corporation founded by two company executives, the firm announced Friday. The deal for WCI Financial Corp., expected to close Wednesday, is separate from the $538.9-million acquisition of Wickes by two New York investment groups, Wickes spokesman Michael Sitrick said. WCI President James E. Neese and Wickes Vice President and Treasurer Ervin J.
BUSINESS
November 2, 1988 | NANCY YOSHIHARA, Times Staff Writer
The New York buyers of Wickes Cos. said Tuesday that they expect to sell some or all of the Santa Monica company's retail operations, possibly including the Builders Emporium and Wickes Furniture chains. The disclosure is the latest in a rapid-fire round of changes surfacing in the week since the investment banking firms of Blackstone Group and Wasserstein Perella & Co. agreed to buy Wickes for $538.9 million in cash and stock.
MAGAZINE
July 27, 1986 | NANCY YOSHIHARA, Nancy Yoshihara is a Times financial writer
A passengers quickly de plane, clear customs and head to two taxis that depart for a hotel on the other end of the tiny Atlantic island. s dusk begins to fall, a sleek white Canadair Challenger jet descends from gray clouds, touching down on an airstrip on the east tip of Bermuda. Its four passengers quickly deplane, clear customs and head to two taxis that depart for a hotel on the other end of the tiny Atlantic island.
BUSINESS
March 21, 1986 | NANCY YOSHIHARA, Times Staff Writer
In a major shift of direction, Wickes Cos. announced Thursday that it is leaving the general retailing business and will divest four of its retail operations. The company said it will use funds from the sale of those units, along with $500 million from a new debt offering, to accumulate a "war chest" to make a major acquisition soon. Sanford C.
CALIFORNIA | LOCAL
October 16, 2009 | Valerie J. Nelson
Fresh out of Stanford law school in 1951, Irving Sulmeyer knocked on the doors in Los Angeles of what are euphemistically called "white-shoe" law firms -- established, powerful and, at the time, far from ethnically diverse. Because he was Jewish, no one would hire him, his family and colleagues said, so he started his own practice. The firm -- long called Sulmeyer, Kupetz, Baumann & Rothmann -- became known for its work on bankruptcy and insolvency cases and its founder was regarded as an expert on bankruptcy law. Sulmeyer, 82, died of cancer Sept.
BUSINESS
February 12, 1986
John Klein has been named president of Wickes Furniture, a unit of Santa Monica-based Wickes Cos.
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