Topeka, Kan. — Payless ShoeSource has filed for Chapter 11 bankruptcy and announced plans to immediately close nearly 400 underperforming stores.
Indianapolis — Electronics and home appliances retailer hhgregg’s Inc.’s decision last week to close 88 stores — or roughly 40 percent of its total outlets — and three distribution facilities over the next two months came in the wake of a rough financial stretch for the company.
Fargo, N.D. — Vanity Shop of Grand Forks Inc. is closing all 137 of its Vanity stores in 27 states.
Beachwood, Ohio — DDR Corp. has named David Lukes president and CEO.
Oak Brook, Ill. — A&G Realty Partners has formed a joint venture with leading grocery real estate executive Joe McKeska.
Plano, Texas — Plano-based J.C. Penney Co. Inc. has announced plans to close two distribution facilities and approximately 130-140 stores over the next few months.
Chattanooga, Tenn. — Chattanooga-based CBL & Associates Properties Inc. has promoted Katie Reinsmidt to the position of CIO.
Oak Brook, Ill. — Samantha Spinell Schnell has joined IRC Retail Centers as director of leasing.
Columbus, Ohio — Limited Stores LLC, parent company of women’s fashion apparel retailer The Limited, has filed for Chapter 11 bankruptcy protection.
Cincinnati and Hoffman Estate, Ill. — Macy’s Inc. (NYSE: M) and Sears Holdings Corp. (NASDAQ: SHLD) both announced Wednesday plans to close a large number of department stores in an effort to improve their long-term operating performance.