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JOANN
Company newsFinanceNew YorkNews

JOANN Files for Second Chapter 11 Bankruptcy

by Abby Cox

New York City — Fabrics and crafts retailer JOANN, which operates roughly 800 stores in 49 states, has filed for Chapter 11 bankruptcy protection, marking its second filing within a year. JOANN first filed for bankruptcy in March 2024. According to a statement issued by the company, JOANN has faced “significant and lasting challenges in the retail environment,” as well as “constrained inventory levels.” The retailer’s current debt totals $615 million, according to CNN. The company is now planning to sell all its assets, with Gordon Brothers Retail Partners — …

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Wegmans
Company newsDevelopmentNewsPennsylvania

Wegmans to Open 115,000-Square-Foot Store in Cranberry Township, Pennsylvania  

by Abby Cox

Cranberry Township, Pa. — Supermarket chain Wegmans Food Markets Inc. has announced plans to open a new store in Cranberry Township, roughly 21 miles outside Pittsburgh. This marks the chain’s first location in metro Pittsburg. Designed and constructed by Sippel Development Co., the115,000-square-foot store will feature a bakery, seafood department, meat, produce, deli and cheese options and a selection of wine and beer. Situated on 13 acres, the new store will be a part of the larger Cranberry Springs mixed-use development. Wegmans currently operates 111 stores along the East Coast.

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JCPenney
Company newsNewsOperationsTexas

JCPenney, SPARC Merge to Form Catalyst Brands

by Abby Cox

Plano, Texas — JCPenney and SPARC Group have announced plans to merge, forming Catalyst Brands. Catalyst Brands launches with 1,800 store locations, 60,000 employees, more than $9 billion of revenue and $1 billion of liquidity. JCPenney and SPARC Group have created a joint venture in an all-equity transaction to form the combined organization, with Simon Property Group, Brookfield Corp., Authentic Brands Group and Shein as shareholders. The combined portfolio features six retail banners — the SPARC Group’s Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand and Nautica and JCPenney. Marc Rosen, …

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Smalls-Sliders
Company newsGeorgiaNewsRestaurants

Smalls Sliders Signs Three-Unit Franchise Agreement in Georgia

by Abby Cox

Macon and Warner Robins, Ga. — Cheeseburger slider concept Smalls Sliders has signed a franchise agreement to open three new units in Georgia. PAR Concepts will own and operate the restaurants, which will be located in Macon and Warner Robins. This marks PAR Concepts’ second franchise agreement with Smalls Sliders, bringing its portfolio to nine units — dubbed Cans — under development in Georgia. The first of the nine restaurants is scheduled to open early this year. Founded in 2019, Atlanta-based Smalls Sliders currently has 350 Cans open or under …

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party-city
Company newsFinanceLeasingNew YorkNews

A&G to Auction 695 Party City Store Leases

by Abby Cox

New York City — A&G Real Estate Partners has announced plans to auction 695 Party City store leases in 44 states in its capacity as real estate advisor to the retailer. Party City Holdco Inc. (PCHI) first filed for Chapter 11 bankruptcy protection in January 2023 and announced in December 2024 that it would be liquidating and closing all stores. The leases range in size from roughly 7,000 to 46,000 square feet, with the spaces available for immediate occupancy. The bid deadline and auction are scheduled for early February. According …

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Food-Hive
Company newsLeasingMassachusettsNews

Sodexo to Open 100 Food Hive Stores at College Campuses

by Abby Cox

Bethesda, Mass. — Food services provider Sodexo has announced plans to have roughly 100 Food Hive stores open at colleges and universities throughout the U.S. by 2026. Sodexo is currently underway on its previously announced plans to open approximately 30 campus stores during the 2024-2025 academic year. The Food Hive concept is designed as a cashless convenience store, with a focus on products from local, minority and women-owned businesses. Universities and colleges with open or planned Hive stores include Morehouse College, University of Illinois Chicago, Northern Arizona University, Texas Christian …

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Company newsInvestment salesNewsNorth Carolina

Variety Wholesalers to Acquire 200 to 400 Big Lots Stores

by Hayden Spiess

Henderson, N.C. — Variety Wholesalers Inc. has announced plans to acquire between 200 and 400 Big Lots stores, in the midst of the retailer’s bankruptcy proceedings. North Carolina-based Variety Wholesalers will acquire the stores, which it will operate under the Big Lots brand, through Gordon Brothers Retail Partners. Gordon Brothers has entered into a sale transaction with Big Lots that will enable the transfer of assets — including stores, distribution centers and intellectual property — to other retailers and companies, including Variety Wholesalers.  Big Lots first filed for Chapter 11 bankruptcy …

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Nordstrom_NYC
Company newsNewsWashington

Nordstrom Family, Liverpool to Take Namesake Department Store Chain Private in $6.25 Billion Deal

by Hayden Spiess

Seattle — Nordstrom Inc. (NYSE: JWN) has signed a definitive agreement with the Nordstrom family and Mexican omnichannel retailer El Puerto de Liverpool SAB de CV (Liverpool) in a deal that will take the fashion department store giant private. The all-cash transaction is valued at $6.25 billion. Erik, Pete and Jamie Nordstrom, along with other members of the Nordstrom family, and Liverpool plan to acquire all the outstanding common shares of Nordstrom that they do not already beneficially own. The deal would give the Nordstrom family a majority ownership stake (50.1 …

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party-city-1
Company newsFinanceNew JerseyNewsTexas

Retailer Bankruptcy Update: Party City to Close All Stores, The Container Store Files for Chapter 11

by Hayden Spiess

Woodcliff Lake, N.J. and Coppell, Texas — In a one-two punch of holiday retail bankruptcy announcements, Party City has issued a formal statement declaring that it will close all its U.S. stores within the coming months, and The Container Store has formally filed for Chapter 11 bankruptcy protection. CNN first reported on Friday, Dec. 20, that Party City, which filed for Chapter 11 bankruptcy protection in January 2023 to restructure its debt, will now be liquidating. The New Jersey-based entertainment accessories retailer, which does business as Party City Holdco Inc., said over the weekend …

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Vista-Commons_Las-Vegas
Company newsGrocery-anchoredNevadaNews

Vestar to Manage 100,000-Square-Foot Retail Center in Las Vegas

by Hayden Spiess

Las Vegas — Vestar has been selected to provide management services for Vista Commons, a 100,000-square-foot retail center located in the Summerlin neighborhood of Las Vegas. Albertsons anchors the property, which is fully occupied. Other tenants at the center include Wells Fargo, State Farm, Subway, Bank of America and Dunkin’ Donuts. Vestar will manage Vista Commons on behalf of an institutional client that recently acquired the property. Gleb Lvovich and Daniel Tyner of JLL Capital Markets brokered the acquisition. This marks the fifth Las Vegas property in Vestar’s management portfolio. 

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