In September 1993 the company filed for Chapter 11 Bankruptcy protection from creditors. Beginning in the late 1980s, however, the company experienced serious problems stemming from a failed merchandising strategy, unstable top management, and an inability to compete with Wal-Mart, K-Mart, and other large national chains. By the late 1980s the chain had some 280 stores in 11 southeastern and border states.Īt the height of its success, Rose's had three distribution warehouses, a fixture manufacturing plant, a New York buying office, and a fleet of trucks. The name was changed to Rose's, Inc., in 1962. In May 1927 the firm was incorporated in Delaware as Rose's 5, 10 and 25 Cents Stores. With the success of that first store, Rose subsequently opened more stores. In 1915 Paul Howard Rose purchased a stock of merchandise from a failing firm (United Stores) in Henderson and opened a five-and-dime store.
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