Hooker ownership period (1987–1989), and two mall locations in Buffalo and Syracuse, New York, were physically completed but never occupied by Altman's during that same time.

[4][5] Altman's was the first big department store to make the move from the "Ladies' Mile" shopping district, where the dry-goods emporia had been located, to Fifth Avenue.

[4] In the 1930s, Altman's made one of the early entries in the suburbs, with branches opening in East Orange (later relocated to Short Hills), White Plains and Manhasset.

[6] In 1986, due to changing IRS rulings,[7] the foundation sold the stores to an investor group that included members of the Gucci family and two principals from financial firm Deloitte & Touche.

Hooker and its chief executive officer, George Herscu, purchased the controlling interest in the B. Altman stores (as well as Bonwit Teller, Sakowitz and a majority of Parisian).

With Hooker and Herscu knowing virtually nothing about how to operate these various retail chains, and then placing them in locations with no regard for market recognition or demographics, their strategy failed miserably, and in August 1989 B. Altman filed for bankruptcy, with the last store closing in 1990.

[13] When Altman's closed, the building stood vacant until 1996, when the exterior was restored by Hardy Holzman Pfeiffer and the interior reconfigured by Gwathmey Siegel & Associates.

207 East 36th Street, which was used as a stable, garage and warehouse for Altman's Fifth Avenue building, now serves as the United States Postal Service Murray Hill Annex.