Episode #3
Betting on Wallstreet: Robert Campeau and the destruction of retail
Oct 20, 202522 minS2
<p><b>Robert Campeau: the man who bought Bloomingdale’s—and broke American retail doing it</b><br/> From a post-war Ottawa homebuilder to a swaggering 1980s dealmaker, Robert Campeau rode junk-bond rocket fuel to snag Allied Stores (1986) and then Federated Department Stores—owner of Bloomingdale’s (1988). The plan: use iconic retailers to anchor hulking real-estate plays. The problem: interest bills that cash flow couldn’t cover. When the tide went out, the debt mountain snapped—and in January 1990, Allied and Federated plunged into Chapter 11 in what was then the largest retail bankruptcy in U.S. history. It was a masterclass...
