Indianapolis' L.S. Ayres department store spun off a discount mart chain, known as Ayr-way, in 1961. It, and the Ayres chain, were acquired by Associated Dry Goods in January 1972. Eventually, there were forty-seven Ayr-way stores, most with an 80,000 square foot footprint.
Under pressure from the Federal Trade Commission, the Ayr-way division was sold in January 1977. Stores ended up under the ownership of Minneapolis' Dayton-Hudson Corporation in September 1980 and were rebranded with their Target nameplate soon after.
AYR-WAY-ANCHORED SHOPPING MALLS: