General Cinema, the Chestnut Hill, Mass.-based movie theater operator and beverage bottler led by Richard A. Smith and his family, purchased one million shares of a new convertible preferred stock for $300 million in cash in Carter Hawley Hale Stores in 1984, as part of CHH’s effort to resist a hostile takeover bid by the specialty retailer now known as Limited Brands, headed by Leslie Wexner. CHHpurchased Neiman Marcus in 1969 and Bergdorf Goodman in 1972.

In 1987, Neiman Marcus Group emerged as part of a restructuring of CHH. CHH’s three specialty store divisions — the Neiman Marcus stores, Bergdorf Goodman and Contempo Casuals — were spun off into a new company to be run by General Cinema. Smith served as chairman and chief executive at both GC and NMG.

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