Herbert Haft, 84
by John Mutter -- Publishers Weekly, 9/13/2004
Herbert Haft, the founder of Crown Books, once the country's third-largest bookstore chain, died September 1 at age 84 in Washington, D.C. Haft began his fortune by expanding Dart Drugs from a single pharmacy into a discount chain of 77 stores. Eventually he adapted his business model to other industries, founding Trak Auto, Shoppers Food Warehouse, Total Beverage and—in 1977—Crown Books. Crown was run for years by Haft's son Bobby, who developed the concept while studying for an M.B.A. At its height, Crown had about 240 stores, mostly in California, Texas, Chicago and Washington. While Herbert Haft had little to do with the day-to-day operation of Crown, his control of the company through Dart led to Crown's demise. In 1993, he had a very bitter and public falling out with his son Bobby, daughter and wife, and fired Bobby from his posts as president of Dart and chairman of Crown. After years of suits and countersuits with his family that drained the companies' finances and energy, Haft sold his interests in the businesses in 1997. Under several owners and battered by superstore rivals, Crown filed for bankruptcy in 1997 and again in 2001, when it went out of business.
