Pueblo is a Puerto Rican supermarkets chain. It has been one of Puerto Rico's major supermarket chains since 1955. Pueblo operates supermarkets in Puerto Rico and the U.S. Virgin Islands.
History
The brainchild of brothers Harold Toppel and George Toppel, sons of Russian immigrant parents, Pueblo began as a single store operation on Roosevelt Avenue in the Puerto Nuevo section of San Juan, Puerto Rico. The success of the first store led the Toppels to open 43 other Pueblo Supermarkets around the Island and, by 1960, to convert the enterprise into a public company that began trading on the New York Stock Exchange.
In 1963, Pueblo expanded beyond Puerto Rico's shores to the US Virgin Islands. Pueblo opened stores in St. Thomas and St. Croix.
The company also introduced the trademark Pueblo which included items from paper towels to rice.
In 1983, Pueblo launched the Xtra Super Food Centers concept, a discount warehouse supermarket which allowed the customer to shop for groceries in a larger store format featuring lower prices with stores located in Puerto Rico and the state of Florida. The lower prices were made possible by the elimination of some services, such as baggers. In 1989, Pueblo acquired the franchise rights to develop Blockbuster Video Stores in Puerto Rico and the US Virgin Islands. The first Blockbuster Video store opened in Puerto Rico in June 27, 1990 at Campo Rico Avenue in Carolina, next to the Administration Office and Distribution Center.
Bankruptcy
In 2003, Pueblo faced financial troubles and there were rumors of a potential buyer from Venezuela. In 2007, Pueblo faced serious financial difficulties again, as many locations were sold to other competitors. Some were acquired and taken over by rival supermarkets Econo, Grande, COOP and Supermax.
Bidding and Pueblo, Inc. (f/k/a as PS Acquisition)
The entire chain was auctioned in September 2007 as part of the Chapter 11 Bankruptcy process, where a bid by Ramón Calderón president of Holsum of Puerto Rico (a baker goods company) for $139 million succeeded in taking over the rest of its operations.[1] The Bankruptcy Court in Delaware approved the transaction. The new company expected to restructure Pueblo in an effort to revive the brand.
In September, 2009 Pueblo, Inc. sold its flagship store in Campo Rico Avenue, Carolina (next to their Corporate Headquarters and Distribution Center) to Econo Supermarkets.
Blockbuster Video Franchise
On June 27, 1990, it was reported that Pueblo International had inaugurated its first video store "Blockbuster Video" on Campo Rico Avenue in Carolina. The store was a subsidiary of Pueblo International, which had purchased the franchise for Puerto Rico and the U.S. Virgin Islands, for an undisclosed amount, from the BLOCKBUSTER Entertainment Corporation (BEC), which was the largest video-movie rental chain in the world at the time. At the opening ceremony, then Pueblo International president David Morrow said that with the first store the company began a successful chain of video stores in Puerto Rico and the Virgin Islands. Pueblo had entered this business because they understood that the Blockbuster concept was the future in the video rental industry, the executive also indicated. Marrow would not publicly indicate the amount of money that was paid for the franchise, he said that Pueblo would also pay, as part of the agreement, a royalty on sales volume to Blockbuster Entertainment. The store, which was built at a cost of $250,000, measured more than 6,000 square feet and had more than 10,000 videos in 30 categories. Filiberto Berríos, then general manager of the chain of stores, said that Pueblo had plans to open two more in the metropolitan area, have nine in operation by the end of 1991 and 22 in Puerto Rico and the Virgin Islands by 1992. Morrow explained that the second store would open on Piñeiro Avenue in Río Piedras and the location of the third was reserved because it was still under negotiation. When asked, the president of Pueblo ruled out that the chain was going to compete directly with the video clubs that Pueblo already had developed in some of its stores and Pueblo Xtras. "We have 11 video stores operating in our stores and we expect to open another four this year, so we will continue to expand in that area and we do not anticipate closing any of the video stores that are already in operation”, Morrow said. Elvin Santiago was named manager of the first store, which would have a total of 28 employees.[5]
See also
External links
References
- Supermercados Pueblo ya le pertenecen a empresario boricua November 2007^
- Pueblo expande la cadena El Nuevo Día, April 24, 2012^
- Pueblo abrirá en Ciudadela en Santurce El Nuevo Día, February 4, 2014