▁closed . ▁W alt ons ▁then ▁acquired ▁Mc D ow ells ▁in ▁ 1 9 7 2 . ▁By ▁ 1 9 7 2 , ▁the ▁W alt ons ▁chain ▁had ▁expanded ▁to ▁ 9 6 ▁department ▁stores ▁before ▁Wal ton ▁retired ▁as ▁executive ▁chairman . ▁Sir ▁John ▁sever ed ▁his ▁t ies ▁with ▁the ▁company ▁in ▁ 1 9 7 6 , ▁and ▁his ▁son ▁John ▁took ▁over . ▁ ▁Alan ▁Bond ▁bought ▁W alt ons ▁in ▁ 1 9 8 1 , ▁but ▁the ▁purchase ▁became ▁a ▁financial ▁dis aster , ▁with ▁Bond ▁losing ▁$ 1 9 9   mill ion ▁in ▁ 1 9 8 3 . ▁The ▁W alt ons ▁department ▁store ▁name ▁disappeared ▁when ▁Bond ▁sold ▁W alt ons ▁in ▁ 1 9 8 7 ▁( and ▁closed ▁its ▁employee ▁super ann u ation ▁fund ), ▁to ▁interests ▁associated ▁with ▁the ▁Co oke ▁family . ▁The ▁Co oke ▁family ▁re - brand ed ▁the ▁remaining ▁stores ▁as ▁Vent ure ▁and ▁Norman ▁Ross ▁out lets . ▁In ▁ 1 9 9 4 , ▁Vent ure ▁went ▁bank rupt . ▁ ▁The ▁flags hip ▁W alt ons ▁department ▁store ▁on ▁George ▁Street , ▁Sydney , ▁was ▁demol ished , ▁and ▁employees ▁and ▁the ▁media ▁were ▁informed ▁that ▁Bond ▁Corporation ▁intended ▁to ▁build ▁Australia ' s ▁tall est ▁building , ▁including ▁a ▁brand ▁new ▁W alt ons ▁store , ▁on ▁the ▁same ▁site . ▁Due ▁to ▁the ▁above - ment ioned ▁losses , ▁that ▁didn ' t ▁happen . ▁The ▁piece