Burlington Coat Factory, now known as Burlington, is an American national off price department store retailer, with 540 stores in 44 states and Puerto Rico, with its corporate headquarters located in Burlington Township, New Jersey. In 2006, it was acquired by Bain Capital in a take-private transaction and in 2008, Tom Kingsbury became President and CEO. The company went public again in 2013. The company was formed and incorporated in 1972 when Henrietta Milstein convinced her husband Monroe to purchase a former factory outlet in Burlington, New Jersey, for $675,000, using money she had saved from her job as a librarian for most of the $75,000 down payment.