Drapery Trust

Drapery Trust was formed in 1925 by Clarence Hatry, a notorious British Financier. He had made his fortune in specultating on oil stocks,[1] and had convinced investors to promote department stores and bring them under the management of a retail conglomerate.[2]

The business grew with a number of acquisitions –

In 1927, the board were approached with by Debenhams, and in 1928 were purchased by Debenhams subsidiary Debenhams Securities Ltd. Clarence Hatry made a fortune from the sale.

The business was kept as a separate subsidiary from the main Debenhams group, but with board members of Debenhams joining the board of the trust.[3] At the time it was reported that Drapery Trust controlled 60 stores of department and specialist kind.[4] The Drages business was sold in 1937 to Great Universal Stores.[5]

In the 1970s it was decided to bring all the business under one brand, and so the stores of the Drapery Trust were either converted into Debenhams, or were closed.[6]

References

  1. Lord of Finance by Liaquat Ahamed
  2. "Mr. Clarence Hatry has been prominent in London for some". The Spectator Archive. Retrieved 31 October 2014.
  3. Dundee Courier 23/11/1927
  4. Pittsburgh Post Gazaette 13/3/1928
  5. "Drages Ltd". Retrieved 11 Dec 2014.
  6. Nicky Findley. "Debenhams store to get makeover". Bournemouth Echo. Retrieved 31 October 2014.
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