Wednesday, November 27, 2024
Read the Digital Magazines
Subscribe

Company news

Company newsGrocery-anchoredNew YorkNewsRetailers

A&G Negotiates Sale of Leasehold Interest in 10 Former Earth Fare Grocery Stores in Five States

by Alex Tostado

Melville, N.Y. — A&G Real Estate Partners has negotiated the sale of the leasehold interest in 10 grocery stores previously occupied by organic specialty grocery chain Earth Fare. The grocer filed for Chapter 11 bankruptcy reorganization in early February and the final leasehold sale closed Friday, April 10. The 10 stores averaged 26,000 square feet. Southeastern Grocers’ Winn-Dixie chain acquired four stores in Boynton Beach, Jacksonville, Lakewood Ranch and Viera, Florida. Austin, Texas-based Whole Foods Markets acquired two stores in south Asheville, North Carolina, and Chattanooga, Tennessee, and Aldi acquired one …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsEntertainmentNewsRetailersTexas

Cinemark Theatres to Sell $250 Million in Senior Debt

by Alex Tostado

Plano, Texas — Cinemark Theatres, an operating subsidiary of Cinemark USA Inc., has announced the sale of $250 million in senior debt notes in a private offering, the Plano-based entertainment company said in a statement Monday. The offering on senior secured notes that are due in 2025 is expected to close April 20, subject to customary closing conditions. Cinemark said it plans to use proceeds from the sale for “general corporate purposes” that will increase liquidity. Multiple news outlets, including The Dallas Morning News and the Phoenix Business Journal, also report that Cinemark …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsIllinoisNewsRetailers

Walgreens Expands Drive-Thru COVID-19 Testing to 15 New Locations in Seven States

by Alex Tostado

Deerfield, Ill. — To provide greater access to COVID-19 testing and community resources, Deerfield-based Walgreens is working to expand drive-thru testing to 15 new sites in seven states. The locations include Arizona, Florida, Illinois, Kentucky, Louisiana, Tennessee and Texas. The testing sites will utilize Abbott’s new test, which delivers positive results in as little as five minutes and negative results within 13 minutes. The 15 locations are being finalized in collaboration with the U.S. Department of Health and Human Services and are planned for select hot spot markets with escalating …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNewsRestaurantsTennessee

TC Restaurant Group Lays Off 411 Employees at Five Honky-Tonks in Nashville Due to Coronavirus Closures

by Alex Tostado

Nashville, Tenn. — TC Restaurant Group has filed a Worker Adjustment and Retraining Notification (WARN) Act with the Tennessee Department of Labor and Workforce Development to notify the agency of 411 employee layoffs stemming from closures due to the coronavirus (COVID-19) pandemic. The Ohio-based company operates five honky-tonks in downtown Nashville, including Jason Aldean’s Kitchen + Rooftop Bar, Luke’s 32Bridge Food + Drink, Luigi’s City Pizza, Tequila Cowboy and FGL House. TC Restaurant Group says the employees were laid off in mid-March, when the company temporarily closed the doors to …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNew YorkNewsRetailers

Kimco Realty Testing Program to Aid Small Businesses Applying for Coronavirus Relief

by Alex Tostado

Jericho, N.Y. — Kimco Realty has been testing a Tenant Assistance Program (TAP), a complimentary service to assist tenants in identifying applying for federal and state loans in the midst of the worldwide coronavirus (COVID-19) outbreak. Kimco and its subsidiaries are teaming with law firms. The Jericho-based company says these services have been rolled out in California and Florida, with plans to expand to other states in the coming days. “We are fully committed to the long-term success of our tenants, and we understand that immediate access to capital may …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsMarylandNewsRetailers

Under Armour to Furlough 6,600 Workers Beginning April 12

by Alex Tostado

Baltimore — In response to the spread of COVID-19, Under Armour Inc. will temporarily lay off some 6,000 employees at its outlet stores around the country and approximately 600 workers at its U.S. distribution centers, effective Sunday, April 12. The Baltimore-based sports apparel retailer also said it would extend current store closures until further notice. In addition, the company’s board of directors and executive vice presidents will be taking 25 percent pay cuts during the public health crisis. Under Armour workers at distribution centers that continue to work will be …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaCompany newsNew YorkNewsRetailersWisconsin

Gap, Macy’s, Kohl’s to Furlough Most Employees as Stores Remain Closed During COVID-19 Pandemic

by Alex Tostado

San Francisco, New York City and Menomonee Falls, Wis. — Prominent retailers Gap Inc., Macy’s Inc. and Kohl’s have announced separately that they’re planning to furlough a majority of employees at their stores and some distribution centers beginning this week in response to the COVID-19 outbreak. Combined, the total number of affected employees is nearly 290,000, according to the Los Angeles Times. The three retailers have extended their temporary store closures indefinitely to stop the spread of the novel coronavirus. The Centers for Disease Control and Prevention (CDC) reported that the …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNewsRetailersTexas

Reports: Neiman Marcus to Furlough Most Workers Amid Coronavirus Crisis

by Alex Tostado

Dallas — Dallas-based luxury retailer Neiman Marcus will furlough the majority of its 14,000 employees as it endures another month of store closures, according to reports from multiple news outlets including Reuters, Bloomberg and The Dallas Morning News. Neiman Marcus CEO Geoffroy van Raemdonck made the announcement Monday, also noting that he would be forgoing a salary during closures, and that employees not impacted by the furloughs would take pay cuts.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsEntertainmentNewsRetailersTexas

GameStop to Close More Than 300 North American Stores in 2020

by Alex Tostado

Grapevine, Texas — Video game retailer GameStop Corp. (NYSE: GME) plans to close more than 300 North American stores in 2020, the Grapevine, Texas-based company recently announced during its fourth-quarter earnings call. GameStop did not specify which stores and markets would be affected by the closures, but said that it anticipates the total number of shuttered stores to be equal to or greater than the 320 stores that it closed in 2019. GameStop saw its total comparable stores sales across the globe decrease 26.1 percent in the fourth quarter of …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsMassachusettsNewsRetailers

Stop & Shop to Donate $1 Million to Support Regional Food Bank Partners in Fulfilling Coronavirus Needs in Northeast

by Alex Tostado

Quincy, Mass. — Stop & Shop, a metro Boston-based regional grocer, will donate $1 million to support its food bank partners across the Northeast in their efforts to fulfill community needs amid the coronavirus outbreak. Proceeds will fund workers who may not be compensated during temporary work closures, as well as to support children without access to free meals at school and existing clients who currently face food insecurity. The donation will be divided among the grocer’s 13 partners, including Greater Boston Food Bank, Rhode Island Community Food Bank and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts