Sears Holdings Files for Chapter 11 Bankruptcy; CEO Steps Down

Hoffman Estates, Ill. — On October 15, 2018, Sears Holdings Corporation and certain of its subsidiaries have filed voluntary petitions for Chapter 11 bankruptcy relief. Effective immediately, the company’s chairman and CEO, Edward S. Lampert, is stepping down from the CEO role. Also, the company will close 142 stores in addition to the previously announced 46 store closings.

Diebold Nixdorf Names Interim CFO

North Canton, Ohio — Diebold Nixdorf has appointed Jeffrey Rutherford as interim chief financial officer, effective immediately. He replaces Chris Chapman, who is leaving the company to pursue other opportunities.

JCPenney Welcomes New Chief Executive Officer

Plano, Texas — J. C. Penney Company, Inc.’s board of directors has appointed Jill Soltau as chief executive officer and a member of the board, effective October 15, 2018. Soltau is a 30-year retail veteran who most recently served as president and CEO of JOANN Stores, the nation’s largest fabric and crafts retailer, after serving as president of Shopko Stores.

FM Restaurants Appoints CEO and CFO

New York — FM Restaurants HoldCo, LLC, an affiliate of Z Capital Group, LLC, a leading alternative asset manager of opportunistic, value-oriented private equity and credit funds, has appointed Randy Sharpe as chief executive officer and Ned Algeo as chief financial officer.

Fuzzy's Taco Shop Names New COO

Fort Worth, Texas — Fuzzy's Taco Shop, the Baja-style taco joint founded near the TCU college campus in 2001, has named industry veteran David Catalano as chief operating officer. Most recently, he was COO at Logan's Roadhouse.

JCPenney Chief Financial Officer to Depart

Plano, Texas — Jeffrey Davis has informed J. C. Penney Company, Inc. that he is resigning from his position as executive vice president and chief financial officer, effective October 1, to join Qurate Retail Group. Jerry Murray, senior vice president of finance, will assume the position of interim chief financial officer, reporting directly to the Office of the CEO.

Kirkland's Names CEO, President/COO Appointments

Nashville, Tenn. — Kirkland's, Inc. is strengthening its senior management team with the addition of Steve "Woody" Woodward as chief executive officer. Woodward, who is currently president and chief merchant of Crate and Barrel, will join the Kirkland's team on October 22, 2018. The company's acting CEO, Mike Cairnes, will be promoted from his previous position of executive vice president to president in addition to resuming his previous role as chief operating officer.

Ice-O-Matic Names New President

Chicago and Denver — Filippo Berti, CEO of the Ali Group, has named Gary Mick as president of Ice-O-Matic, an Ali Group Company, as of September 10, 2018. In this new role, he is responsible for the day-to-day management of Ice-O-Matic.

CR architecture + design Adds Key Leadership

Cincinnati — CR architecture + design has hired a former vice president of construction at Macy’s, Bruce Quisno, to join its leadership team as vice president of retail market, while Bill Dandy will assume the role of chief operating officer.

CEC Entertainment, Inc. Appoints New CFO

Dallas — CEC Entertainment, Inc., which operates Chuck E. Cheese's and Peter Piper Pizza restaurants, has appointed James "Jim" A. Howell as chief financial officer, effective September 17, 2018. Howell will replace Dale Black, who is retiring effective September 21.

At Home Group Inc. Names CFO Transition

Plano, Texas — At Home Group Inc.’s CFO, Judd Nystrom, will be leaving the home décor superstore after a transition period. The company is naming Jeffrey R. Knudson, currently senior vice president, finance and retail controller at CVS Health, as his successor.

Duro-Last Names Multiple Leadership Promotions

Saginaw, Mich. — Duro-Last®, Inc. has promoted multiple employees throughout its leadership team. Mike Tracey now serves as vice president of operations; Thomas Jenkins is now the vice president of manufacturing; and Mitch Gilbert has accepted the position of director of continuous improvement.

Biscuitville Names Chief Development Officer

Greensboro, N.C. — Biscuitville FRESH SOUTHERN® has named Anne Goldman, CCIM (Certified Commercial Investment Member), as the company’s chief development officer. Goldman is replacing Tim Hegarty, who recently retired from Biscuitville.

Big Lots Names New Chief Executive Officer

Columbus, Ohio — Bruce K. Thorn, a well-respected retail industry executive, has been named chief executive officer and president of Big Lots, Inc. Most recently, he was the president and chief operating officer of Tailored Brands, Inc., a leading specialty retailer of men's tailored clothing and men's formalwear. Tailored Brands announced Thorn's resignation on August 27, 2018.

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