Crowley, Texas — Powerhouse, a national construction, facilities maintenance and rollout service provider, has appointed Dianna MacDonald as chief financial officer. MacDonald joins Powerhouse from Authentix, a leading global authentication and information services nanotechnology company. She brings to the company more than 25 years of private equity experience, an executive skillset complementary to Powerhouse’s current growth strategy through acquisitions initiated late last year with the investment of Lincolnshire Management, Inc. MacDonald will lead Powerhouse’s financial operations, centralizing efforts on establishing and deploying advanced forecasting, asset protection and reporting processes. “Powerhouse …
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Latham, N.Y. — DWM Comprehensive Facility Solutions has promoted Alexandra (Allie) Meleco to growth and development manager. She previously served as associate account manager. In her new role, Meleco will be responsible for the development and implementation of processes and procedures to create sustainable growth with both clients and employees. Meleco joined DWM in 2015 as a customer service coordinator, bringing with her experience in property management. She has since moved up the ranks, assuming multiple roles of progressive responsibility for the company. An innovator with innate leadership abilities, Meleco …
Goodlettsville, Tenn. — Dollar General has opened its 17,000th store in Fountain, Colo. Dollar General opened its first store in Colorado in 2006 and currently employs more than 500 individuals in the state through approximately 60 store locations. DG was originally founded as a wholesale venture in 1939 by J.L. Turner and Cal Turner, Sr. The father-and-son duo pioneered the “dollar store” concept in 1955 with the opening of the first Dollar General store in Springfield, Ky. Today, DG is comprised of 17,000 company-owned retail locations and more than 25 …
Oak Brook, Ill. — Chef Bill Kim’s Pizza & Parm Shop, a new virtual restaurant based out of the Chicago suburb of Oak Brook, opened on Dec. 2. Available exclusively for takeout through DoorDash, this pop-up offers the western Chicago suburbs a chance to experience the award-winning chef’s menu of flavors, in a time where dining options continue to be limited due to restaurant dining restrictions. “Growing up on the northside of Chicago, I had a lot of Italian friends and was constantly surrounded by the cuisine… I think part …
New York City — Tapestry, Inc., a leading New York-based house of modern luxury accessories and lifestyle brands (Coach, Kate Spade, Stuart Weitzman), has appointed Joanne Crevoiserat as chief executive officer. She had served as the company’s interim CEO since July 2020, after having joined the company as chief financial officer in August 2019. Before that, she was executive vice president and chief operating officer of Abercrombie & Fitch. “After completing a comprehensive internal and external search, the board unanimously concluded that Joanne is the best candidate to lead Tapestry’s …
Dallas — La Madeleine French Bakery & Café will return to Addison, Texas, in February with a new Petite Market and Bakery prototype, which combines la Madeleine’s ambiance as an unhurried French retreat with the convenience of a grab ‘n go concept. The new restaurant will also include la Madeleine’s first-ever drive-thru and a featured scratch-baking experience. “To round out the French bakery experience, team members will make bread onsite by mixing the dough, shaping and baking it,” says la Madeleine CEO Lionel Ladouceur. “There is truly nothing more delightful …
Menomonee Falls, Wis., and San Francisco — Sephora will debut at least 850 “Sephora at Kohl’s” locations within Kohl’s stores by 2023, the San Francisco-based cosmetic company announced. The locations will span 2,500 square feet and will typically be situated near the front of each Kohl’s. Sephora at Kohl’s shops will replace Kohl’s current in-store beauty assortment. Exterior signage at locations that feature the in-store shops will display both Kohl’s and Sephora branding. These locations will be selected based on existing Sephora store proximity, market opportunity and customer insights. Menomonee …
Premium Apparel Agrees to Acquire Multiple Clothing Brands from Ascena Retail Group for $540 Million
by Katie Lee
New York City and Mahwah, N.J. — Premium Apparel LLC, an affiliate of New York City-based private equity firm Sycamore Partners, has entered into an agreement to purchase multiple clothing brands from Mahwah, N.J.-based Ascena Retail Group for $540 million. The apparel and footwear brands in question include Ann Taylor, LOFT, Lane Bryant and Lou & Grey. Under the terms of the deal, which is expected to close by mid-December, Premium Apparel will acquire the brands on a cash-free and debt-free basis. Premium Apparel did not specify how many of …
Los Angeles — California Pizza Kitchen (CPK) has successfully completed its financial restructuring process and emerged from Chapter 11. CPK completed a debt-for-equity transaction and now has a substantially reduced debt load and increased liquidity. Upon emergence, the company eliminated more than $220 million of existing funded debt from its capital structure. The company had filed for bankruptcy in July 2020 with plans to close 200 stores. CPK completed its restructuring with the full support of its creditors and previous equity holders. Looking ahead, the company is focused on expanding …
Union, N.J. — Bed Bath & Beyond Inc. has named John Welling as senior vice president (SVP), merchandise planning, allocation & operations, effective immediately. Welling will report to Joe Hartsig, Bed Bath & Beyond’s chief merchandising officer (CMO), and president of Harmon Health & Beauty Stores. Welling will be responsible for helping lead the transformation of Bed Bath & Beyond’s inventory planning and replenishment strategy, a core pillar in the company’s strategic growth plan. This includes implementing enhanced merchandising processes and inventory systems to improve in-stock levels and turn times, …