Abercrombie & Fitch

Abercrombie & Fitch was founded in 1892 as an upscale sporting goods store.  The company expanded in the twentieth century but began to fail after one of the founders,  Ezra Fitch, retired.  The company declined significantly in the 1960s and 1970s and after losing $1 million in 1975 it filed for Chapter 11 in 1976 and finally closed its doors in November 1977.  Abercrombie was purchased out of bankruptcy by other retailers and has become an iconic purveyor of clothes for Gen?X since then.