Handy Dan

Handy Dan Home Improvement was an American home improvement store founded by Amnon Barness, an Israeli immigrant. It went out of business in May, 1989.[1]

By 1972, the company operated 30 stores in California, Texas, Arizona and Oklahoma. It made an initial offering in November, which led to Daylin, Inc. owning 81% of Handy Dan.[2] Daylin filed for bankruptcy in February 1975, though its subsidiaries were not included in the Chapter 11 proceedings.[3] Handy Dan was one of the few assets the company didn't sell during this time.[4]

Bernard Marcus was CEO of Handy Dan in 1978 when he was fired along with company vice president Arthur Blank amid a corporate power struggle with Daylin CEO Sanford C. Sigoloff. Marcus and Blank went on to found Home Depot.[5][6]

Daylin was purchased by W. R. Grace and Company in 1979.[7] In 1986, Grace's retail home improvement division, which included Handy Dan and Channel Home Centers, was sold to the division's executives through a leveraged buyout.[8]

Handy Dan played a major role in getting Texas's religion-based blue laws repealed in 1984 by opening on Sunday and using white price stickers for goods that could be sold seven days a week, and blue price stickers for items that could not be sold on Sunday.[9]

References

  1. ^ http://nl.newsbank.com/nl-search/we/Archives?p_product=SAEC&p_theme=saec&p_action=search&p_maxdocs=200&p_topdoc=1&p_text_direct-0=0EAFE7444964D657&p_field_direct-0=document_id&p_perpage=10&p_sort=YMD_date:D&s_trackval=GooglePM]
  2. ^ "Equity Financing". The New York Times. 1972-11-22. ISSN 0362-4331. Retrieved 2024-07-27.
  3. ^ "Daylin, Big West Coast Retailer, Files a Petition for Bankruptcy". The New York Times. 1975-02-28. ISSN 0362-4331. Retrieved 2024-07-27.
  4. ^ Lindsey, Robert (1978-06-11). "Up From Bankruptcy: How Daylin Bid for Dymo". The New York Times. ISSN 0362-4331. Retrieved 2024-07-27.
  5. ^ "Bernie Marcus & Arthur Blank". Entrepreneur. October 10, 2008. Retrieved February 10, 2021.
  6. ^ Loeb, Walter. "The Story Of Ken Langone, The Visionary Behind Home Depot". Forbes. Retrieved 2024-07-27.
  7. ^ "Grace Completes Purchase of Daylin". The New York Times. March 22, 1979. Retrieved February 10, 2021.
  8. ^ "Grace Will Sell Home Centers". The New York Times. December 2, 1986. Retrieved December 29, 2009.
  9. ^ "Home Channel News". Readers Respond: Handy Dan, Home Depot and Lowe's. Retrieved 2010-02-24.[dead link‍]