National Stores Inc., is a family-owned company headquartered in the Harbor Gateway area of Los Angeles, California with 344 locations in 22 states and Puerto Rico, employing 9800 people nationwide as of August 2018. National Stores Inc. does business as: Fallas, Fallas Paredes, Fallas Discount Stores, Factory 2-U, Conway, Weiner's, CW Price, Falas and Anna's Linen's by Fallas, and offers brand name and private label clothing for men, ladies, boys, girls, juniors, infants and toddlers along with lingerie, shoes and household items. Fallas Paredes caters to the Hispanic American community.
History
National Stores was started in 1962 by Joseph Fallas in a single downtown Los Angeles store as Fallas Paredes. The current CEO / owner of National Stores is Joseph's son, Michael Fallas, who started working as a stock boy at age five.
Expansion
National Stores acquired 31 of the 97 Houston-area Weiner's store locations in 2001 when Weiner's began liquidation after filing for bankruptcy for the second time within five years. National Stores acquired San Diego, California-based Factory 2-U Stores, Inc. when it filed for bankruptcy protection in February 2004 and arranged for the sale of 172 stores to National Stores. In August 2004, Factory 2-U stores liquidated, receiving $28.5 million from the sale to Factory 2-U Liquidation LLC, a consortium headed by National Stores. National Stores acquired the Conway Stores chain in January 2014. On Aug. 27, 2015, National Stores performed a store lease takeover auction of 41 Anna's Linens store leases out of a debtor's sale. Some previously Anna's Linens stores in certain locations will be branded "Anna's Linens by Fallas" according to the intellectual property rights acquired by National Stores and will continue the basic Anna's Linen product offering. In the second quarter of 2016, National Stores leaves a 600,000-square-foot regional distribution center in Otay Mesa, California and moves to a building development by Sares-Regis in Perris, California, signing a $26 million 10-year lease, in an effort to realize a more centralized logistic location. In August 2018, National Stores filed for chapter 11 bankruptcy protection with plans to close 74 of its 344 stores under a reorganization plan. The liquidation sales expanded to 184 Fallas and Factory 2-U stores starting in October 2018.
