Fedmart was one of the best discount department stores by Sol Price. The store was so famous that it had 45 stores in the U.S. Well, nowadays people want to know that what happened to Fedmart and why the owner of the store closed the stores. So, if you are also one of those people who want to know about it then don’t worry you are at the right place here you will get to know about it.
What Happened to Fedmart?
As we all know that FedMart was a chain of discount department stores started by Sol Price, who later founded Price Club. In the first year of the starting, it became highly successful in fact over the next 20 years FedMart grew to include 45 stores, mostly in California, and the Southwest in a chain that generated over $300 million in annual sales.
Price later sold two-thirds of the chain to Hugo Mann, a German retail chain, in 1975 and was forced out of his leadership position the following year. And later FedMart went out of business in 1982.
SOL Price’s Price Club merger into Costco:
Basically, Price Club was an American warehouse store chain. It merged with its competitor, Costco Wholesale, in 1993 and adopted the Costco name in 1997. The original Price Club warehouse is still open.
As per Wikipedia, Price Club merged with rival Costco in 1993 and the combined company was known as PriceCostco. Price Club and Costco continued to operate as separate stores with members of either chain being able to shop at both stores with their membership cards.
