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Encyclopedia > Food Fair

Pantry Pride was a supermarket chain in the United States, its predecessor name was Food Fair. By 1957, Food Fair had 275 stores. At its peak the chain had 440 stores. It was founded by Samuel N. Friedland (1897?-1985), who opened the first Food Fair store in Harrisburg, Pennsylvania in the 1920s and retained control through 1978 when the chain entered bankruptcy. Exterior appearance of typical supermarket (Albertsons) Supermarket produce section A supermarket is a store that sells a wide variety of goods including food and alcohol (where permitted), medicine, clothes, and other household products that are consumed regularly. ... Location in Pennsylvania Coordinates: Country United States State Pennsylvania County Dauphin Incorporated 1791 Charter 1860 Government  - Mayor Stephen R. Reed (D) Area  - City  11. ...

In 1958, Food Fair purchased 40-store Jacksonville, Florida chain Setzer's Supermarkets and separately, but about the same time J.M. Fields Department Stores. In 1970 it acquired Hill's Supermarkets of New York. Pantry Pride purchased the Philadelphia-based Penn Fruits in 1975. Motto: Where Florida Begins Location in the state of Florida Coordinates: Country United States State Florida County Duval Government  - Mayor John Peyton (R) Area  - City  885 sq mi (2,264. ...

Food-a-Rama bought stores in 1981 from Pantry Pride, which first entered bankruptcy in 1978 and exited in 1981, relocating to Fort Lauderdale, Florida and taking the name Pantry Pride Stores, Inc.. Other companies bought the liquidated stores in the late 1980s. Nickname: Coordinates: Country United States State Florida County Broward Established 27 March 1911 Government  - Type Commission-Manager  - Mayor Jim Naugle Area  - City  36. ...

In 1984 in separate transactions it acquired Devon Stores, a home improvement store and the 400 store Adams Drug Company operating in the Northeastern part of the United States. The owner of Devon stores, who obtained about 10.4% of the merged company, then sought an ouster of the Pantry Pride Board of Directors. In 1985, using junk bonds, 38% of Pantry Pride (establishing effective control) was acquired by investor Ronald Perelman, who liquidated its assets, kept its losses on the books to offset profits from MacAndrews and Forbes, which he had previously acquired, and used Pantry Pride as a vehicle to acquire other companies, in particular Revlon. By 1986, the name of Pantry Pride was changed to Revlon Group. High yield debt (non-investment grade or junk bond) is a business term referring to a corporate debt instrument, usually a bond, that has a higher yield (compared to investment grade debt) because of a high perceived credit risk (default risk). ... Ronald Owen Perelman (born January 1, 1943) is a wealthy American investor and businessman who made his fortune buying beleaguered corporations and selling them later for an enormous profit. ... Revlon (NYSE: REV) is an American cosmetics company. ...

The last stores in South Florida were sold to the chairman of Gristedes Supermarkets, John Catsimadidis. The last store opened in 1991 in Sunny Isles, Florida The final store was shuttered in 1993.

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