Frank W. Woolworth (1852-1919) was the first major discounter in the United States. His was a success story that actually worked...
However, in the 1980s, the company wasn't doing so well... The company owned Kinney Shoes and the Foot Locker. It tried to outdo Kmart and Walmart with its Woolco chain.
San Bernardino had two stores downtown. One was in the Central City Mall (now the Carousel Mall, Berdoo's infamous monument of an idea gone horrible.) The other one was at the corner of Fourth and E Streets. The company fought to keep the E Street property. Unfortunately, even though the contract would expire in 12 years, the chain completely shut down.
Woolworth's had one of the better lunch counters. Only Grant's was better.