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Published: Tuesday, April 17, 2018 @ 8:24 AM
Updated: Tuesday, April 17, 2018 @ 5:06 PM
— As Bon-Ton Stores Inc. heads for liquidation, local officials are bracing for employment loss and empty tenant spaces at Elder-Beerman locations at area malls and shopping centers.
Only two bids from liquidators were submitted at the bankruptcy auction Tuesday for Bon-Ton Stores Inc., the parent company of Elder-Beerman, according to Reuters. Elder-Beerman employs hundreds in the Dayton region, with stores at multiple shopping centers and a distribution center in Fairborn.
Seeking Alpha, an investment analyst website, reported Bon-Ton CEO William Tracy sent a letter to employees late Tuesday that said the company will begin an orderly wind-down of operations following the liquidation process.
Bon-Ton executives, who hoped a buyer would turn around the future of the company, would not comment on the future of the company
A hearing will be held on Wednesday during which Bon-Ton officials will ask the bankruptcy court to approve the sale of the company to a liquidator, according to Seeking Alpha. Stores are expected to close within 10 to 12 weeks.
Bon-Ton had been working with U.S. mall owners Washington Prime Group Inc. and Namdar Realty Group to secure a bid that would have kept open a large portion of Bon-Ton locations. It would’ve benefited the mall groups as Bon-Ton Stores are major tenants for both companies. Washington Prime owns both the Dayton Mall and the Mall at Fairfield Commons.
» RELATED: Elder-Beerman has rich history in Dayton
Chris Kershner, executive vice president of the Dayton Area Chamber of Commerce, said Bon-Ton’s liquidation is reflective of retail changes happening across the country. Despite economic planning and a diverse retail landscape, a national retailer’s demise is beyond anything local malls can salvage, he said.
“That’s pretty difficult,” he said. “It’s much greater than Dayton. Certainly losing Elder-Beerman and their presence, those jobs, will have an impact. I would say we have, as a community, already made an effort to revitalize some of our mall areas.”
Most Elder-Beerman stores are located within local malls, so closures would have a detrimental effect on multiple shopping centers. Elder-Beerman has stores in Piqua, Huber Heights, the Mall at Fairfield Commons in Beavercreek, the Kettering Towne Center, among others in Ohio. The stores employ hundreds of workers in the region.
The liquidation would also impact the distribution center in Fairborn. About 96 employees work at the facility, and Bon-Ton leases the facility. The closure “could definitely have a ripple effect and an impact all the way down to small businesses” and families, Matt Owen, executive director of the Fairborn Area Chamber of Commerce, told this news organization in January.
“There’s no doubt that if that became a future empty site, we would work extremely hard at attracting a new business there,” Owen said.
Even before it was clear Bon-Ton was headed for liquidation, the Dayton region has already felt the blow of losing Elder-Beerman. The company sent out a 60-day notice on Friday warning of layoffs that could start June 5 for the 122 jobs at the Dayton Mall store and 330 positions at the Bon-Ton fulfillment center in West Jefferson.
Plans are already underway to re-brand the Dayton Mall and the surrounding area as the Miami Crossing District, Chris Snyder, board member with the Miami Twp.-Dayton Mall Joint Economic Development District, told this news organization last year, told this news organization last year.
The district would include 2.2 square-miles around the Dayton Mall, which already includes more than 400 businesses, 3.7 million square-feet of retail space and 200,000 square feet of restaurant space. Miami Twp. and Miamisburg adopted a master plan for the district that calls for more than $200 million to be invested which would result in new landscaping and redesigned outdoor spaces.
Around one-third of U.S. malls are projected to close in the next few years. Elder-Beerman isn’t the only retailer abruptly shutting down stores. Toys “R” Us is also in the process of liquidating all of its stores, after voluntarily filing for relief under Chapter 11, in September 2017.
Approximately 31,000 Toys “R” Us employees will ultimately be laid off due to the store closings. The retailer has locations in Miami Twp. and Beavercreek.
The company and its subsidiaries filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware in early February. The company’s stores also include Carson’s, Younkers, Bergner’s, Boston Store, and Herberger’s, as well as Bon-Ton.
BREAKING: Elder-Beerman likely going out of business without bid from buyer https://t.co/W9cp2FP4If— Kara Driscoll (@KaraDDriscoll) April 17, 2018
FIVE FAST BUSINESS READS
Published: Sunday, April 22, 2018 @ 9:00 AM
— At home in its new $13 million headquarters for six months, United Grinding showcased its new building in Miami Twp. to the rest of the world last week.
The company opened the doors to its 2100 United Grinding Blvd. (found off Old Byers Road) home to about 300 people from America, Europe and elsewhere over two days last week.
The occasion — the company’s “The Artistry of the Grinding Universe” event, showcasing the latest in precision metal-shaping machines and techniques.
Owned by German company Korber Solutions, United Grinding drew representatives from fellow Korber-owned brands as well as customers for the technology showcase.
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The 110,00-square-foot building appears to be made for showcasing, with a good chunk of it set aside as a permanent showroom. Here, visitors can see Walter, Studer, EWAG and Blohm machines and learn the latest ways to strengthen quality and speed production.
United Grinding has about 140 Miamisburg employees. (About 30 employees are based elsewhere.) The company moved from Earl Boulevard — and consolidated a sister location in Virginia — to the current site just west of southbound Interstate 75.
The move involved incentives exceeding $18 million in investments and incentives, including a Montgomery County ED/GE (Economic Development/Government Equity) grant.
The company serves customers in aerospace, automotive, medical, tool and die and other industries.
“We wanted to have all of our employees as much as possible under one roof,” Steve Jacobson, United Grinding president and chief executive, said.
“This area of the Midwest is our hub zone, if you will,” he added. “The majority of our business — about 60 to 70 percent of our business — is located within about six hours’ drive of our location.”
And why is metal shaping considered an “artistry?”
Because parts need to be perfect, and they need to be made perfectly more than once. Customers bring parts to United Grinding for a proof of concept or demonstration, and those typically are the most challenging parts they produce, the CEO said.
At United Grinding, customers see whether they can make the parts faster, less expensively or with greater quality.
Walk around the building, and you’ll see several appearances of the German acronym “Puls” — which stands for “passion and precision,” said Jacob Baldwin, a United Grinding spokesman.
“It’s a combination of not only engineering, but art that goes into the design and development of a part,” Jacobson said. “Of course, if that happens with a part, you need a process that mimics the same way (for additional production).”
As a European company, United Grinding has a strong corporate identity, Jacobson said. “There’s an art theme there, when you look around and see how we designed the building. Not only for functionality, but it looks like a nice building,” he said.
Published: Saturday, April 21, 2018 @ 2:36 PM
— Harley-Davidson is seeking a select group of college students who are eager for an internship on two wheels.
The motorcycle company's #FindYourFreedom internship is going viral, and for good reason. The 12-week paid internship involves riding a Harley-Davidson motorcycle across the country this summer. The best perk of all? Interns who complete the program get to keep the motorcycle.
Join us for the internship of a lifetime this summer. Learn to ride, experience the freedom of the open road, and get real-world marketing experience, all on a Harley-Davidson motorcycle. Grab life by the handlebars and apply here: https://t.co/hIVmpPwhAb pic.twitter.com/3L4m3Vrx5u— Harley-Davidson (@harleydavidson) April 20, 2018
Full requirements for the internship can be found on Harley-Davidson's website. In addition to riding across the country, interns will be expected to attend company events along the way, post scenes from the journey on social media and serve as brand ambassadors, recruiting others into the sport of motorcycling.
Applicants who don't know how to ride a motorcycle will be required to take a course offered by Harley-Davidson Riding Academy.
Published: Saturday, April 21, 2018 @ 9:00 AM
FAIRFIELD — No-frills grocery discount chain ALDI has submitted plans to build a new location in Fairfield.
Officials with the grocery chain have received approvals from the city’s Design and Review Committee and Planning Commission to build a new 22,000-square-foot store on a 2.25-acre lot at the corner of Pleasant Avenue and Patterson Boulevard.
That’s inside the Patterson Place shopping center that once housed a Marsh grocery store that was razed several years ago.
“It’s a good-looking building,” said Fairfield Development Services Director Greg Kathman. “It’s their new prototype.”
Kathman said staff is conducting a review of the submitted technical plans — the engineering and architectural drawings — “but they then have to come to terms and close on the real estate on the property.”
He said the company wanted to get the zoning and city approvals completed before they closed on the property, which he said, “We expect that to happen relatively soon.”
The new ALDI should open by sometime in the fourth quarter, Kathman said.
The new ALDI should have a ripple effect on vacant space in the shopping plaza in which it is being constructed. Kathman said company officials told him they’ve seen other business follow the opening of a new ALDI store.
ALDI is investing $14 million to model 11 stores in Cincinnati and the surrounding area by 2019, part of its $1.6 billion plan to remodel more than 1,300 U.S. stores by 2020. Its West Chester location reopened Monday following remodeling efforts and a Hamilton location shut down for remodeling on Sunday. a Middletown location will be remodeled in September.
ALDI previously announced plans to invest $3 billion for the addition of 650 new Aldi locations in the United States during the next five years, bringing its total number of stores to 2,000 by the end of 2019.
The grocer, which has been part of the Cincinnati community for more than 20 years, is “always looking for opportunities” to bring the ALDI difference” to more of its fans, including the Fairfield community,” according to Sarah Brown, ALDI Springfield division vice president
“Our upcoming Fairfield store will deliver a modern and convenient shopping experience with a focus on fresh items, including robust produce, dairy and bakery sections, and more room for customers’ favorite products with approximately 22,150 square feet of selling space,” Brown said. “The store’s modern design will also feature open ceilings, natural lighting and environmentally-friendly building materials – such as recycled materials, energy-saving refrigeration and LED lighting.”
Published: Friday, April 20, 2018 @ 2:41 PM
Dayton, Ohio — Children’s xylophones, water bottles sold at Costco, and 21 styles of decorative pillows are among the latest recalls announced by the Consumer Product Safety Commission.
The Petit Collage musical jumbo wooden xylophones made by Wild & Wolf are under recall because the ball on the end of the stick can detach and pose a choking hazard.
There is one report of the ball separating and another report of a loose ball, but no injuries.
They were sold at Barnes & Noble, Urban Outfitters and other retailers.
Don’t let your child use the toy and contact Wild & Wolf at 855-215-5879 to receive a free replacement beater stick.
Reduce Hydro Pro Water bottles are being recalled over lead paint.
They were sold in two packs with a dog and lamb design printed on the outside.
No one has been hurt, but the pink paint on the outside of the bear bottles contain levels of toxic lead that exceed federal standards.
Don’t use the recalled bottles and contact Base Brands at 833-600-2887 or return them to place of purchase for a full refund or replacement bottle.
Decorative pillows by Primark are being recalled because they may catch on fire.
No one has been hurt, but don’t use the cushions which come in 21 shapes, sizes and colors, click here for full product codes and descriptions.
Contact Primark at 855-215-5829 or return the pillows to the store for a full refund.
One million Square D safety switches are under recall because the could shock or electrocute users, although no injuries have been reported.
The power may stay on when in the “OFF” position on several catalog numbers of the general duty switches made by Schneider Electric.
Contact Schneider Electric at 877-672-1953 or click here to find out how to inspect the switch, receive free service support, and a replacement switch.
Pressure washer surface cleaners by Briggs and Stratton are being recalled because the spray bar can fly off and cause an injury.
One person reported needing sutures on a cut to the knee after being struck by the bar. There are four other reports of the bars detaching from the central hub.
3000 PSI Briggs and Stratton and Crafsman branded surface cleaners are involved in the recall.
Stop using the cleaners and Contact Briggs and Stratton at 877-370-7505 to receive a free replacement.
Jo-Ann Stores are recalling string light sets which can break and cut you.
Two people have been cut by the decorative glass jars in the Jo-Ann’s Makers Holiday 10-count LED string lights.
Don’t use the lights and contact Jo-Ann stores at 888-739-4120 for a full refund.
Polaris is recalling Ranger XP recreational off-highway vehicles and Phoenix 200 all-terrain vehicles due to injury and crash concerns.
Multiple model numbers of the 2016 and 2017 Ranger XP ROVs have seat belt brackets that can separate from the frame. No injuries have been reported.
All model year 2014 through 2017 Phoenix ATVs are being recalled because of nine reports of a damaged throttle limiter, with one minor injury.
Stop using the ROVs and ATVs and contact Polaris at 800-765-2747 for a free repair.
For more on these and other recalls visit CPSC.gov.