Dillard’s Inc., one of the largest department store chains in the United States, has filed documents with the Securities and Exchange Commission (SEC) seeking shareholder approval to relocate its corporate domicile from Delaware to Texas.
The board’s decision, disclosed in a recent regulatory filing, marks a significant step in a growing trend of companies abandoning Delaware as their state of incorporation due to increasing concerns over shareholder litigation and court rulings unfavorable to corporate leadership.
Dillard’s, which operates about 270 stores in 30 states, employs around 40,000 workers and generates over $7 billion in annual revenue. The company has long been a staple in American retail, offering fashion apparel, cosmetics, and home furnishings.
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