The company continued to be an active acquirer, in 1972 acquiring Bergdorf Goodman in New York, and Holt Renfrew of Montreal, Canada. After attempting an ill-fated, unsuccessful hostile takeover of Marshall Field in 1977, the company acquired the venerable but tattered John Wanamaker's of Philadelphia for $60 million (cash) in April 1978. That was followed by a stock swap for Thalhimers of Richmond, Virginia in August 1978. Contempo Casuals was a May 1979, takeover. Emporium and Capwell's were merged to form a unified San Francisco Bay-area presence as Emporium-Capwell in 1980, Weinstock's moved into Utah and Reno, Nevada, and The Broadway stores were split into separate Los Angeles and Phoenix-based divisions as the chain expanded into Colorado, New Mexico and Nevada. Sales increased, but profits did not. The saying on Wall Street was "God gave them Southern California, and they blew it", which The Wall Street Journal had attributed to Monroe H. Greenstein, a retailing analyst at Bear Stearns. In 1980, CHH decided to get rid of units which catered to the lower economic markets. The first to go was the Sunset House mail order unit which also operated novelty shops in shopping malls. CHH found a buyer that only wanted the mail order unit and the mall stores were closed in 1981. Faced with continuing poor results, and two hostile takeover attempts by The Limited in 1984 and 1986, the company, still led by Phillip M. Hawley, reacted by first selling Waldenbooks to Kmart in 1984, Holt Renfrew to the Weston Family in April 1986, Wanamaker's to A. Alfred Taubman's Woodward & Lothrop in January 1987 and then splitting off the desirable specialty store business as Neiman-Marcus Group, Inc. (encompassing the Neiman-Marcus, Bergdorf Goodman and Contempo Casuals stores). The company that had rescued Carter Hawley Hale from The Limited takeover-attempts, theater owner/soft-drink bottler-cum-investment company General Cinema (later renamed Harcourt General), assumed majority ownership of Neiman-Marcus Group in 1986 as its reward. Thalhimer's was sold to May Department Stores in December 1990. 1990s and the end From its heights in 1984 as the sixth-largest department store chain firm in the United States, CHH fell into Chapter 11 bankruptcy in 1991. Besides the financial problems of surviving the 1980s era of hostile takeovers, the main California department store business had faltered because of increasing competition from Nordstrom. In 1992, after one and one-half years of bankruptcy negotiations, financier Sam Zell and