Iconic Brands That No Longer Exist

F.W. WoolWorth

Few tales of rags to riches are as memorable and famous as Woolworth’s. First opened in 1879, the “five and dime store” model was a brilliant one that grew exponentially. The standards of operation and quality that were established at WoolWorth’s is still the basis for the actions of many corporations today.

F.W. WoolWorth

However, it simply bit off more than it could chew. Jumping on the hype train, the company began to rapidly acquire land and expand their franchising, which would cause the company to operate at a huge loss of $24 million by 1997. By 2001, the company had closed 400 stores and the parent company changed the name to FootLocker, now one of the most popular shoe stores globally.