Arthur Kobacker owned a chain of department stores in Ohio and New York. Eventually he decided to specialize and focused on selling shoes.
By the time he retired in the mid 1990s, the Kobacker Co. stretched into 31 states including Florida, where he sold shoes under a chain called The Shoe Works.
He sold the family business to Payless Shoes in a deal worth $40 million to $50 million.
Mr. Kobacker passed away in 2007. His family still owns the property.