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 …
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 …
Spartanburg, S.C. and New York — Spartanburg, South Carolina-based Denny’s Corp., owner and operator of Denny’s Inc. and Keke’s Inc., has entered into a definitive agreement to be acquired by a group consisting of TriArtisan Capital Advisors LLC, Treville Capital Group and Yadav Enterprises Inc., in an all-cash transaction for $620 million. Upon completion of the transaction, Denny’s will become a privately held company and will no longer be listed on the Nasdaq. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions. Under the terms …
Salisbury, N.C. — Food Lion is investing $484 million to enhance the customer shopping experience with 153 remodeled stores. The stores were unveiled on Nov. 5 throughout the greater Charlotte, North Carolina, market. Founded in Salisbury, North Carolina, in 1957, Food Lion operates more than 1,100 stores throughout 10 Southeastern and Mid-Atlantic states. The omnichannel grocery retailer also prioritizes fighting food insecurity, donating nearly 13 million pounds of food across the Charlotte region to area food banks since 2024.
Irvine, Calif. — Philip Voorhees will join BISON Partners, a real estate operating company focused on retail properties, following his departure from CBRE at the end of the year after a 25-year tenure. Voorhees currently serves as vice chairman in CBRE’s Retail Capital Markets division, where his retail investment teams have completed more than 1,080 transactions totaling over $15 billion in value. Launched in 2022 by Brad Rable and Wil Smith, BISON Partners was established as a strategic venture to acquire and reposition retail shopping centers. The firm recently expanded its …
San Francisco — Macy’s and TMG Partners have formed a joint venture to explore the potential redevelopment of the retailer’s flagship store on Union Square in San Francisco’s retail district. TMG will help Macy’s conduct a “strategic assessment” of the property to explore the viability of renovations and enhancements that will “align with the needs of today’s office workers, residents, visitors, retail and local businesses.” The Union Square location will remain open indefinitely. Further updates on plans and next steps for the Union Square site will be shared in the coming …
St. Louis Park, Minn. — Mexican quick-service restaurant Taco John’s has signed a franchise agreement to open five new units in North Dakota. The deal will bring five new units to Fargo, with the first scheduled to open by the end of the year, and the second following in early 2026. Entrepreneur Brett Itterman will own and operate the restaurants. Founded in 1969 in Cheyenne, Wyoming, Taco John’s operates and franchises nearly 350 restaurants across 22 states.
Indianapolis — Simon Property Group has acquired the remaining 12 percent interest in The Taubman Realty Group (TRG), a real estate company specializing in developing, owning and operating regional and super-regional shopping centers in the United States and Asia. The transaction gives Simon full ownership of TRG, concluding a partnership that began five years ago. The company stated that with full ownership of TRG, it hopes to capitalize on new growth opportunities, increase net operating income and deliver long-term returns to its shareholders. Simon has held an 80 percent ownership …
San Diego — San Diego-based Jack in the Box has entered into a definitive agreement to sell Del Taco Holdings, a wholly owned subsidiary of the company which operates and franchises more than 550 Del Taco restaurants, to Yadav Enterprises for $115 million. Yadav Enterprises operates more than 310 franchise restaurants, including Jack in the Box, Denny’s and TGI Friday’s. Yadav Enterprises also owns the Taco Cabana brand, a fast-casual, Tex-Mex restaurant chain consisting of 150 locations, and Nick the Greek, a fast-casual, Greek restaurant chain consisting of 90 locations. The …
Charlotte, N.C. — Charlotte, North Carolina-based Big V Property has partnered with Equity Street Capital to launch the Big V Core Property Fund, a $1.2 billion open-ended retail real estate fund. The fund, which was created by consolidating seven retail properties into a single investment vehicle, spans six cities and is 96 percent leased. The properties include The Rim and Alamo Ranch in San Antonio; The Avenue Murfreesboro in Murfreesboro, Tennessee; Southpark Meadows in Austin, Texas; Glynn Isles in Brunswick, Georgia; Westside Center in Huntsville, Alabama; and Glade Parks in Euless, …
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