About Variety Wholesalers

John Pope, as a 24-year-old in 1949, took over the family business of five small dime stores in eastern North Carolina which became “Popes” stores. Successive groups of stores were purchased in subsequent years, including the following major purchases: 52 Eagle Stores based in Charlotte, NC purchased in 1971; 54 McCrory/United Stores based in Easley SC purchased in 1978; 118 Value Mart stores based in Hattiesburg, MS, and located principally in MS, LA and AL, purchased in 1980; 145 Super Dollar stores based in Raleigh, NC and located principally in NC, VA and SC, purchased in 1981; 53 P.H.Rose stores based in Henderson, NC and located principally in NC, VA and SC, purchased in 1984; 106 Allied Stores based in Savannah GA and located principally in GA, SC and LA, purchased in 1989; 33 Maxway stores based in Sanford, North Carolina and located principally in NC, GA and SC , purchased in 1990; 60 Bargain Town stores based in Montgomery, AL and located principally in AL, MS and GA, purchased in 1992; 106 Roses stores, based in Henderson, North Carolina and located in 10 states of the southeastern United States, purchased in 1997; and 118 Bonus Stores/Bill’s Dollar Stores based in Columbia, MS and located principally in AL, GA, LA and MS, purchased in 2003.
 
Variety established a reputation as turning around companies in retailing with its successful purchases (from Chapter 11 or post-Chapter 11) and restructuring of the Bargain Town, Maxway and Roses retail chains. All of these became profitable within 12 months of purchase.

Corporate Structure


Variety Wholesalers, Inc. was incorporated in North Carolina on July 25, 1957.
 
Variety Stores, Inc. (formerly “Rose’s Stores, Inc.”), was incorporated in Delaware on May 5, 1927 and is the wholly-owned subsidiary of Variety Wholesalers, Inc.
 
The retail stores operated by the Company are grouped into three main divisions. The Super 10 Division consists of 159 stores ranging in size from 5,000 to 10,000 square feet and are chiefly competitive with dollar stores such as Family Dollar and Dollar General. These stores operate under the names “Popes,” “Eagles,” “Super Dollar,” “Bill’s Dollar Stores” and “Super 10.” The Maxway Division consists of 148 stores ranging in size from 10,000 square feet to 30,000 square feet and are chiefly competitive with junior department stores such as Peebles, Goody’s, TJ Maxx, etc. The Roses Division consists of 112 stores ranging in size from 30,000 square feet to 70,000 square feet and are chiefly competitive with discount stores such as K-Mart, Wal-Mart, etc. All three divisions offer an extensive assortment of retail merchandise including both hardlines (toys, health and beauty aids, housewares, furniture, sporting goods, snacks, etc.) and softlines (clothing, accessories, jewelry, etc.).