At some point, they went bankrupt, right? Yes, as the review shows, their strong leadership trend began to decline after the death of John A. Hartford, in 1951. But they also stayed downtown in leased stores rather than buy prime property in the suburbs. So the lost out in the move to the suburbs. Management seemed traditional bound and unable to adapt. The foundation that inherited the company wanted dividends. So they began a long decline. The company was finally sold to Tengelmann, a German grocer, in 1979 for a fraction of its previous value. And finally sank into bankruptcy.
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