log in to manage your profile and account
- Create your account
- Receive up-to-date newsletters
- Set up text alerts
Published: Monday, March 20, 2017 @ 9:57 AM
— J.C. Penney announced on Friday that it will close four store in Ohio, part of a move to consolidate brick-and-mortar operations.
The retail chain said in March that it will close up to 140 stores in the coming months, and has now identified those locations. Here are five things to know about what stores will close:
1. JC Penney announced the locations of 138 stores it plans to close. The states with the largest number of closings are North Carolina, Wisconsin, Texas, Minnesota, Illinois, Michigan and Pennsylvania, according to CBS.
2. Stores closing in Ohio include the store at the St. Mary’s Square shopping center in St. Mary’s. Other closing locations in the state include New Towne Mall in New Philadelphia; Richond Town Square in Richmond Heights; and Findlay Village Mall in Findlay.
» STORE CLOSURES: 9 retailers closing stores nationwide this year
3. Liquidation sales for most impacted stores will begin on April 17 and will then close in June.
4. JC Penney said about 5,000 workers will be impacted. Only one distribution center in Florida will close, while another one in California is being relocated.
5. The closing stores represent about 14 percent of the department store’s current operating amount, according to CBS.
FIVE FAST BUSINESS READS
Published: Thursday, February 15, 2018 @ 2:51 PM
— Gibson guitar company, which has been a staple brand among various musical instruments since 1902, is facing bankruptcy.
According to the Nashville Post, Gibson’s chief financial officer, Bill Lawrence, left after six months on the job and just as $375 million in senior secured notes mature and another $145 million in bank loans become due if they aren’t refinanced by July. The departure of Lawrence was seen as abrupt and a statement about the desperate situation Gibson is in currently.
The company, which generates $1 billion a year in revenues, recently moved out of its Nashville warehouse, where it had operated since the mid 1980s.
The company owner since then, Henry Juskiewicz, is trying to re-order the company according to the Post but is facing a battle with creditors over bad business decisions. The company recently sold Baldwin piano, and is hoping to see a boost in cash from the various electronics companies it had purchased the last several years.
Gibson began in 1902 in Kalamazoo, Mich., producing various instruments, including acoustic guitars and the Les Paul, designed by noted guitarist Les Paul, which became one of the most iconic instruments ever made. The Gibson Les Paul began production in 1952, and became a staple of the rock and roll movement since. The company since developed other iconic guitars such as the SG, Firebird, the Flying V and he ES-335 among others.
Published: Saturday, February 17, 2018 @ 3:23 PM
— Winn-Dixie owner Bi-Lo is preparing for bankruptcy, according to a Bloomberg report.
Up to 200 stores could close as part of a bankruptcy filing, Bloomberg reported. According to Winn-Dixie's website, the retailer has locations in Florida, Georgia, Alabama, Louisiana and Mississippi.
The bankruptcy filing could come as early as next month, Bloomberg reported.
Bi-Lo has not publicly confirmed any bankruptcy plans.
Published: Monday, December 04, 2017 @ 7:54 AM
Updated: Friday, February 23, 2018 @ 4:03 PM
— Roosters is planning to open a restaurant in Miami Twp., with plans to replace another nearby location.
A limited liability company affiliated with the casual dining chain bought a restaurant property at 9400 Springboro Pike, which was formerly home to Caddy’s Tap House.
Officials with Roosters couldn’t be immediately reached for comment.
Tracey Herron, with Equity Inc., who represented Roosters in the real estate deal, said the location will replace its smaller leased store at 103 N. Springboro Pike near the Dayton Mall.
The 8,500-square-foot restaurant is near the Interstate 75 and 675 interchange.
Roosters Real Estate LLC bought the property for $1.7 million in a sale recorded Dec. 1 by Montgomery County.
Caddy’s shut down its restaurant and bar at the location in May due to poor performance, the restaurant owner said at the time.
A marketing flyer by Oberer Realty, which had been listing the property for sale, stated about 54,832 people live within three miles of the restaurant with an average household income of $79,657.
Published: Friday, February 16, 2018 @ 3:49 PM
— A St. Mary’s trailer and snow-plow dealer is expanding into the Dayton area.
Midway Trailers Sales was born in 1999 as a small trailer sales lot and repair facility, purchased 13 years later by Roger and Deb Miller.
The Millers expanded Midway’s selection and has brought the business to a new home in Harrison Township, the Dayton Area Chamber of Commerce said.
“When we started looking into expanding the business, it was obvious that Dayton needed a hometown dealer,” Bryan Hoersten, Dayton store manager, said in a chamber release. “The new store is very exciting for everyone in the company and we look forward to making long lasting relationships with our new and old customers in Dayton.”
The new 7,500-square-foot facility has more than 200 trailers on the lot. The location will employ four people, with plans to hire another two to three in the immediate future, the chamber said.