Montreal (QC) CANADA, April 1988 File Photo of
Robert Campeau, at the Canadian Club of Montreal shortly after his purchase of (US retail chain) Federated Stores.
In1980 he unsuccessfully sought control of a leading Canadian financial institution, the Royal Trust
, gained control of the United States-based Allied Stores, the third largest retailer in the country, in 1986
.He then took over Federated Department Stores (1988), which included the prestigious Bloomingdale's department store
.To pay for these new assets he sold others and borrowed heavily. As a result of his debts, he was forced first to auction off Bloomingdale's and then to step down as head of his corporation, sharing control with Olympia & York.
As of April 2007, the 83 year old Campeau is now officially broke after a 18 Million $ (Can) divorce from his German born wife Ilse Luebbert who now live in Salzbourg.
photo (c) Pierre Roussel - Images Distribution