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Dior-Saks
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Saks Global Files for Chapter 11 Bankruptcy, Secures $1.75 Billion Financing Commitment

by Abby Cox

New York City — Saks Global Holdings LLC, the owner of luxury retailers such as Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, has filed for voluntary Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas. The company secured a financing commitment of approximately $1.75 billion, comprising $1.5 billion from an ad hoc group of the company’s senior secured bondholders and roughly $240 million of incremental liquidity from its asset-based lenders. Saks Global says the financing package will strengthen its balance sheet and position …

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Rita’s Italian Ice & Frozen Custard
Company newsDevelopmentNewsPennsylvaniaRestaurants

Rita’s Italian Ice & Frozen Custard Surpasses 600 Locations in 2025

by Abby Cox

Philadelphia — Rita’s Italian Ice & Frozen Custard finished 2025 with more than 600 locations worldwide, with further expansion planned in the year ahead. In 2025, Rita’s opened 35 new shops systemwide, including new shop openings across the Southeast, Texas and Mid-Atlantic, as well as the brand’s first-ever location in Louisiana. This year, Rita’s expects to open approximately 45 additional shops. Drive-thru development emerged as one of Rita’s growth drivers in 2025. Across the system, the company reports that drive-thru locations are delivering more than 30 percent higher performance compared to …

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Aldi_Chicago
Company newsDevelopmentNewsRetailers

Aldi to Open 180 New U.S. Grocery Stores This Year

by Abby Cox

Batavia, Ill. — Aldi, a German discount, small-format grocer, plans to open 180 new stores across 31 states this year. By the end of the year, Aldi will operate approximately 2,800 U.S. grocery stores, including its first Maine location in Portland and 10 new stores in the metro Phoenix area. The grocer has operated stores in the United States for 50 years and has gained a loyal following in recent years as the demand for discount grocery items increases in the face of inflation. The company disclosed that 17 million Americans …

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Company newsGrocery-anchoredNewsVirginia

Rappaport to Manage West Springfield Shopping Center in Metro Washington, D.C.

by Abby Cox

Springfield, Va. — Rappaport has been selected to provide property management services for Principal Asset Management’s West Springfield Shopping Center, an 86,000-square-foot grocery-anchored center located in Springfield, approximately 14 miles southwest of Washington, D.C. Rappaport already oversees leasing at the property, and also previously managed a redevelopment project at the center, which featured the relocation and ground-up construction of an Inova/GoHealth facility and consolidation of the new grocery anchor, Aldi. Additional tenants at West Springfield Shopping Center include Panera Bread, Chipotle Mexican Grill, Subway, Magic Cleaners, The UPS Store, Papa John’s …

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sarasota-square-redevelopment
Company newsFloridaLeasingNews

Jamestown to Provide Leasing for Sarasota Square Redevelopment in Florida

by Abby Cox

Sarasota, Fla. — Jamestown has been selected to provide leasing for Sarasota Square, a redevelopment of the former Sarasota Square mall, which will be transformed into an open-air lifestyle center. Chicago-based Torburn Partners received approval for the redevelopment plan in April 2024, and demolition of the indoor mall began in February 2025. The first retail building is currently under construction. Previously confirmed tenants at the project include Whole Foods Market, Homesense, CAVA, Chipotle Mexican Grill, Joe & The Juice and Charles Schwab.

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Whole-Foods_Kailua-Town
Company newsHawaiiInvestment salesNews

Joint Venture to Acquire Alexander & Baldwin in $2.3 Billion Deal, Take Hawaiian Company Private

by Abby Cox

Honolulu — A joint venture formed by locally based MW Group Ltd. and funds affiliated with Blackstone Real Estate and DivcoWest has entered into a definite merger agreement with Alexander & Baldwin Inc., a Honolulu-based owner-operator of shopping centers and other commercial real estate properties. The deal is valued at $2.3 billion, inclusive of outstanding debt, and would take Alexander & Baldwin private. The joint venture plans to acquire all outstanding shares of Alexander & Baldwin for $21.20 per share in an all-cash transaction. The company’s stock price closed last week …

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North-River-District
Company newsDevelopmentNews

PB Development Selected as Master Developer for North River District in Fort Wayne, Indiana

by Abby Cox

Fort Wayne, Ind. — PB Development has been selected to serve as the master developer for North River District, a planned 29-acre mixed-use development in Fort Wayne. The site is anticipated to include a 160,000-square-foot sports and recreation facility, dubbed North River Fieldhouse, that will accommodate activities including basketball, soccer, volleyball, wrestling, cheerleading, pickleball, baseball and flag football. Affordable and market-rate housing options are also expected to be constructed at the property.

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ASI_logo
Company newsNewsOhioRetailers

American Signature Files Voluntary Petitions for Chapter 11 Bankruptcy

by Abby Cox

Columbus, Ohio — Home furnishings retailer American Signature Inc. (ASI) has filed for Chapter 11 relief in the United States Bankruptcy Court for the District of Delaware. Based in Columbus, Ohio, American Signature was founded in 1948 and is the parent company to Value City Furniture and American Signature Furniture, which have more than 120 stores open across 17 states. ASI expects to enter into a stalking horse asset purchase agreement under which, subject to court approval, ASI Purchaser LLC will acquire substantially all of the company’s assets and assume certain …

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Company newsNewsOhio

Reports: Wendy’s to Close Hundreds of Stores in 2026

by Abby Cox

Dublin, Ohio — Dublin, Ohio-based fast food giant Wendy’s is planning to close hundreds of its U.S. stores next year as part of a broader effort to revive its home market. According to Wendy’s interim CEO Ken Cook during the company’s quarterly earnings call, Wendy’s is expected to close a “mid-single-digit percentage” of its 6,011 U.S. restaurants, which could approximate to about 300 stores. In its latest fiscal quarter, Wendy’s global sales were down 2.6 percent and sales at U.S. locations fell 4.7 percent. As reported by several media publications, such …

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Shoe Carnival
Company newsNewsSouth Carolina

Shoe Carnival to Change Name to Shoe Station Group

by Abby Cox

Fort Mill, S.C. — Shoe Carnival Inc.’s board of directors has unanimously voted to change the company’s corporate name to Shoe Station Group, subject to approval by shareholders at the company’s annual meeting in June 2026. The company expects more than 90 percent of its stores to operate as Shoe Station by the end of fiscal 2028, with the remaining locations being evaluated for re-naming, outlet repositioning or closure. The company has completed 100 store re-banners during fiscal 2025 and is on track for 51 percent of its portfolio to operate …

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