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J.Crew Files for Chapter 11 Bankruptcy, Expects to Eventually Reopen Stores

by Alex Tostado

New York City — J.Crew Group Inc., which operates the J.Crew and Madewell fashion retail brands, has filed for Chapter 11 bankruptcy protection. The company hopes to restructure its debt while aiming to eventually reopen its stores in the aftermath of the COVID-19 pandemic. Chinos Holdings Inc., the parent company of J.Crew, filed the voluntary petitions for protection Monday in the U.S. Bankruptcy Court of the Eastern District of Virginia. In a statement, the New York City-based retailer said its lenders and stakeholders agreed to convert $1.6 billion of debt …

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Company newsIndianaMallsNewsRetailers

Simon Property Group Begins Reopening Malls in Stages, Outlines Safety Protocols

by Alex Tostado

Indianapolis — Simon Property Group (NYSE: SPG) has released plans for reopening several of its malls in the first half of May. The openings are based on current state and/or local stay-at-home orders put in place as a result of the COVID-19 pandemic. Previously scheduled to open today, some properties in Georgia and Indiana have been delayed to a May 4 opening. View the reopening schedule here. Indianapolis-based Simon says its protocols have been reviewed and approved by experts in epidemiology and environmental health and safety. The protocols are in …

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Company newsNews

Federal Realty Investment Trust to Implement Program for Contactless Exchanges at its Properties

by Alex Tostado

Rockville, Md. — Federal Realty Investment Trust will implement a new program dubbed The Pick-Up at its properties beginning Friday, May 15. In the midst of the COVID-19 crisis, the Rockville-based company said the program will offer a singular service across its tenants to limit physical contact. Federal Realty will introduce the new service where permitted by local jurisdictions. When a customer places an order with a retailer or restaurant within a Federal Realty-owned property by phone or online, the customer can designate a pick-up time and will be assigned …

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Company newsNew YorkNewsRetailers

Macy’s to Reopen 68 Stores on Monday, as U.S. Economic Reboot Continues

by Alex Tostado

New York City — Macy’s Inc. plans to reopen 68 of its approximately 775 stores Monday, after state and federal mandates forced the retailer to temporarily close its stores during the COVID-19 outbreak. The New York City-based retailer plans to open an additional 50 stores May 11. The department store chain closed all of its stores and furloughed most of its storefront workforce on March 17. The closures also included the company’s subsidiary chains, Bloomingdale’s and Bluemercury, but all three chains have maintained their online services. The newly opened Macy’s …

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ArizonaCompany newsGrocery-anchoredNewsRetailers

Sprouts Farmers Market Expands Grocery Pickup, Delivery Service to 30 Texas Stores

by Alex Tostado

Phoenix — Sprouts Farmers Market has expanded its grocery pickup and delivery platform to 30 of its store in Texas as the Phoenix-based grocer faces heightened demand amid the COVID-19 outbreak. Customers may choose between same-day pickup and ordering several days in advance. Sprouts has partnered with Instacart to roll out its delivery service and plans to have it available at its 340 nationwide stores by early May. Sprouts currently operates about 45 stores in Texas, with two more slated to open in the coming months in Houston and Tyler.

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Company newsDevelopmentNew JerseyNewsRestaurants

German Doner Kebab Plans to Open 350 Restaurants in US, with First Location Slated for American Dream Mall

by Alex Tostado

East Rutherford, N.J. — German Doner Kebab (GDK), a fast-casual restaurant chain, plans to open 350 restaurants in the United States over the next seven years. The first location will be within American Dream in East Rutherford. The Glasgow, Scotland-based company specializes in doner kebab, which is a slow-cooked meat often served on a flatbread. GDK operates more than 70 locations in the United Kingdom, Sweden, Dubai, Abu-Dhabi, Oman, and Bahrain. GDK also plans to open locations in Ireland and Saudi Arabia. New York City-based JAACRES is representing GDK in …

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CaliforniaCompany newsGeorgiaNewsRestaurants

Roark Capital Invests $200 Million in The Cheesecake Factory Amid Pandemic-Related Closures

by Alex Tostado

Atlanta and Calabasas Hills, Calif. — Roark Capital Group, a private equity firm based in Atlanta, has invested $200 million in The Cheesecake Factory Inc., owner and operator of the chain of restaurants of the same name. The Calabasas Hills-based company also owns and operates the North Italia chain, as well as a collection of restaurants within the Fox Restaurant Concepts subsidiary. The funds will be used to immediately help The Cheesecake Factory navigate the COVID-19 pandemic, in which its dine-in service has been closed. The company, which has been …

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Company newsNew YorkNews

Shake Shack to Return $10 Million Coronavirus Stimulus Loan

by Alex Tostado

New York City — Shake Shack will return a $10 million coronavirus stimulus loan it received through the federal government’s Small Business Administration Paycheck Protection Program (PPP). The New York City-based burger chain said it will return the funds after garnering capital through its investors. Shake Shack received the $10 million loan April 10. ​Shake Shack operates 189 restaurants and employs about 8,000 workers.

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Company newsNewsPennsylvaniaRetailers

PREIT Launches ‘Shop Local’ Website to Highlight Small Businesses in its Portfolio

by Alex Tostado

Philadelphia — PREIT has launched a “shop local” section on its website to shine a spotlight on the small businesses in its portfolio. The Philadelphia-based mall owner reports that 48 percent of Americans work for a small business and 76 percent of those businesses have been affected by the COVID-19 outbreak. Furthermore, the company says small businesses make up 28 percent of its portfolio. The shop local page​ has categories that include home goods, food, health and wellness, athletic and outdoor, and apparel and accessories. “Our local businesses are among the enterprises hardest …

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ArkansasCompany newsNewsRetailers

Walmart Reaches Goal to Hire 150,000 Associates, Pledges to Hire 50,000 More Amid COVID-19 Crisis

by Alex Tostado

Bentonville, Ark. — Amid the COVID-19 crisis sweeping the nation, Walmart set a goal in mid-March of hiring 150,000 associates before May 1. Since then, the Bentonville-based retailer has hired an average of 5,000 people per day, surpassing its goal. Now Walmart has its sights set on hiring another 50,000 people. In a statement, the company said most of the new hires will be temporary who will support current associates and customers in locations with specific needs. Additionally, 85 percent of the 150,000 new associates are temporary or part-time workers. …

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