Author

Katie Lee

Newsretailers

L’Occitane, Inc. Files for Chapter 11, Will Optimize U.S. Store Footprint

by Katie Lee

New York City — L’Occitane, Inc., a leading U.S. retailer of beauty and well-being products rich in natural and organic ingredients that preserves and celebrates the traditions of Provence, France, has filed for voluntary Chapter 11 bankruptcy this week and will optimize its store footprint to best position its business for the future. To implement this store footprint optimization plan, including the contemplated exit of unprofitable locations, the company commenced a voluntary case under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District …

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franchise developmentNewsrestaurants

Cinnaholic Set for Rapid Growth in 2021

by Katie Lee

Atlanta — Cinnaholic, a gourmet vegan bakery, is set to open 20 new locations across the country this year. The brand also experienced a successful 2020: it signed agreements for new franchise locations across 20 new markets including Ann Arbor, Mich.; Portland, Ore.; Philadelphia; New Jersey; and Phoenix. Since June 2020, the brand has also opened locations in new markets including Raleigh, N.C.; Chicago; San Antonio; Baltimore; Birmingham; Tulsa, Okla.; Little Rock, Ark.; and Tyler, Texas. As Cinnaholic sets its sights on continued growth in 2021, it seeks out qualified …

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Newsretailers

AMC Theatres Raises $917 Million of Investment Capital, Says Bankruptcy is ‘Completely Off Table’

by Katie Lee

Leawood, Kan. — In an effort to remain financially afloat amid the COVID-19 pandemic, AMC Entertainment Holdings Inc. has raised or signed commitment letters to receive $917 million of new equity and debt capital. The Leawood, Kan.-based movie theater company says the increased liquidity should enable it to survive well into 2021. Of the $917 million, AMC raised $506 million of equity from the issuance of new common shares. Additionally, the company executed commitment letters for $411 million of incremental debt capital from upsizing and refinancing its European revolving credit …

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franchise developmentNewsrestaurants

Mountain Mike’s Pizza Continues to Grow in Oregon

by Katie Lee

Newport Beach, Calif. — Mountain Mike’s Pizza has opened its second Oregon location, in Roseburg. The new Roseburg location is owned by franchisee and area developer, Jim Smith, who owns the Mountain Mike’s in Medford, Ore., and plans to open two additional restaurants in the state in 2021. With dining rooms open at limited capacities throughout Oregon, Mountain Mike’s continues to adhere to the strictest health and safety guidelines set by the state and the CDC, such as employees wearing masks and gloves, and tamper-proof seals. Mountain Mike’s offers dine-in, …

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Newsretailers

American Eagle Outfitters to Close 225 Stores, Bolster Aerie Brand to $2 Billion Revenue

by Katie Lee

Pittsburgh — The Pittsburgh-based company’s chief financial officer, Michael Mathias, announced plans to close 200 to 225 of the company’s 880 existing American Eagle locations over the next 2 to 3 years during a virtual investor meeting held Jan. 21. “Our primary focus for the next few years with American Eagle will be to build on our large cash-flow base by focusing on inventory efficiency, improving merchandise margins, managing expenses and closing stores to strengthen profit flow-through,” says Mathias.The company’s American Eagle banner anticipates roughly flat growth compared to 2019, …

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franchise developmentNewsrestaurants

Greek Xpress Partners with Fransmart for Nationwide Franchising

by Katie Lee

New York City — Greek Xpress, New York’s favorite Greek quick-service restaurant, is partnering with franchise development group Fransmart to bring its authentic, delicious and healthy Greek cuisine to customers nationwide through franchising. The brand has continued to build momentum despite challenges surrounding COVID-19, opening its seventh location in Manhattan last year and continuing construction on its eighth location in Staten Island. “Customers vote with their wallets, and Greek Xpress restaurants are busy,” says Fransmart CEO Dan Rowe. “We have full confidence that this concept could grow to become a Greek Five Guys or a …

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Newspeopleproperty management

Taubman Names New Chief Financial Officer

by Katie Lee

Bloomfield Hills, Mich. — The Taubman Company LLC’s executive vice president and chief financial officer, Simon Leopold, will leave the company effective January 31. Taubman’s vice president, capital markets and treasurer, Benjamin Meeker, will be promoted to senior vice president, CFO and treasurer. Meeker will report to Taubman’s chairman, president and CEO, Robert Taubman. Leopold will remain an advisor to the company to assist with the transition. “Since joining the company in 2012, Simon Leopold has had a very positive impact on our business,” says Taubman. “During his tenure, he …

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energy managementIndustry Voiceskitchen equipment

Better For Your Bottom Line

by Katie Lee

— By Tom Szafranski — Managing energy efficiency in a commercial kitchen.   Energy efficiency can often be an overlooked component of commercial foodservice equipment; in reality, an energy-efficient unit is not only better for the environment, but better for the bottom line for the owner/operator. According to ENERGY STAR®, the EPA’s program to promote and certify energy efficiency, restaurants use around 5 to 7 times more energy than any other commercial facility. Additionally, energy costs for commercial foodservice establishments — such as restaurants, hotels and quick-service eateries — make …

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HVAC/RIndustry Voiceslighting

Let There Be Light

by Katie Lee

— By Mark Timmons — The 101 on UV-C lighting.   Fall and winter present a new challenge in restaurant and facility management with the continuing COVID-19 pandemic impacting businesses around the world and now it’s flu season. Taking a look back, several months ago, in-person dining felt like an overwhelming hurdle. Reopening a retail business seemed daunting. Yet we did it. As we turn to stabilizing business, in some parts of the United States al fresco dining is done. It’s simply too cold outside for outdoor dining. With the …

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Newsrestaurants

New Restaurant Concept, Trucker Burger, Opens in Arizona

by Katie Lee

Knoxville, Tenn. — Pilot Company and its One9 Fuel Network have opened a new restaurant concept, Trucker Burger, located in the new Xpress Fuel travel center in Eloy, Ariz. Inspired by those who drive America and in collaboration with celebrity chef and restaurant owner Tim Love, Trucker Burger is a culinary roadside destination that offers a gourmet menu of diner classics. “We’re thrilled to open a new Xpress Fuel and our first Trucker Burger restaurant in Eloy, Arizona,” says Jason Nordin, chief operator of Pilot Company. “We welcome our neighbors, …

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