Houston — Francesca’s Holdings Corp. will close 140 stores throughout the country by Jan. 30, 2021, the Houston-based women’s apparel and accessories retailer announced on Nov. 16. According to The Wall Street Journal, the 140 shuttered stores represent about 20% of the company’s total store count. Francesca’s also said that if the company is unable to raise sufficient capital to continue funding operations and paying obligations, it will likely seek to restructure its debt load by filing for Chapter 11 bankruptcy. Francesca’s stock price opened at $3.53 per share on …
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Eatontown, N.J. — Total Comfort Group, a leading provider of HVAC, refrigeration, electrical and plumbing services throughout the United States, is expanding into the state of Florida. A new branch office located in Lakeland, Fla., will support its self-performing push in the region. “I am excited about our continued expansion throughout the region,” says Frank Bacchetta, president and CEO of Total Comfort Group. “It’s been our long-standing goal to expand our best-in-class service to our clients throughout the South. As we continue to build our presence throughout the region, Florida …
Atlanta — Tropical Smoothie Cafe, a leading national fast-casual cafe franchise, has opened its 900th cafe, which is located on the Fort Benning military base in Georgia. This milestone opening comes on the heels of a momentous year for the brand, which has signed 214 new franchise agreements, opened 87 new cafes across the U.S. and achieved double digit same-store sales for the past 5 months, bringing same-store sales to +6.3% year to date. “It’s inspiring to be part of the growth that Tropical Smoothie Cafe has accomplished this year …
Indianapolis and Bloomfield Hills, Mich. — Simon Property Group and Taubman Centers Inc. have modified their merger agreement to include a new purchase price of $43 per share, enabling Simon to proceed with its acquisition of an 80% interest in Taubman. CNBC reports that the decline in the agreed-upon share price from $52.50 per share effectively reduces the price tag of the deal by $800 million. This announcement comes just as the two regional mall REITs were set to square off in Circuit Court for the Sixth Judicial District of …
Atlanta — While 2020 has disrupted many businesses, especially among foodservice, The Flying Biscuit Café has entered a new stage of growth, signing numerous development deals throughout the southern U.S., including Columbia, S.C.; Chapel Hill, N.C., East Cobb County, Ga., Castleberry Hill, Ga; and Athens, Ga. “The pandemic brought a lot of uncertainty to the restaurant industry, but we adapted quickly, increasing delivery services, offering touchless payments and providing additional curbside pickup options,” says Brent Fuller, vice president of operation at the Flying Biscuit Café. “As a brand, we’re proud …
Atlanta — The Home Depot® has entered into a definitive agreement to acquire HD Supply Holdings, Inc., a leading national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. The acquisition is expected to position The Home Depot as a premier provider in the MRO marketplace. “The MRO customer is highly valued by The Home Depot, and this acquisition will position the company to accelerate sales growth by better serving both existing and new customers in a highly fragmented $55 billion marketplace,” says Craig …
Nashville, Tenn. — Captain D’s has launched a new restaurant prototype called Express, featuring a significantly smaller footprint than its traditional models. Over the past several years, Captain D’s has developed a robust lineup of restaurant prototypes — ranging from a 22-seater to a 62-seater — all intentionally designed to adapt to the increasingly competitive real estate market, as well as provide franchisees with flexibility and substantial cost savings. The first Captain D’s Express is slated to open in the Atlanta metro area in second quarter 2021. Captain D’s Express …
Latham, N.Y. — DWM Comprehensive Facility Solutions has formed a new organizational structure consistent with DWM’s long term strategy to improve the customer experience and accelerate growth. As part of the changes, DWM has established dedicated roles and responsibilities around each client touchpoint and has consolidated the line of reporting for roles across all three divisions (Facilities Maintenance, Construction & Renovation, Water Filtration). The new organizational structure will feature an executive leadership panel, to provide checks and balances across the organization. The executive leadership panel includes: Ryan Knapp, executive vice …
New York City — Fransmart, the industry-leading franchise development company, will officially represent Brooklyn Dumpling Shop, the soon-to-open, 24/7 quick-service restaurant serving creative, flavor-packed dumplings with hands-free technology, in its global franchising endeavors. The restaurant’s flagship location is opening in Manhattan’s East Village this December. Fransmart was drawn to Brooklyn Dumpling Shop’s unique concept, which reimagines dumplings in 32 unique varieties along with the latest in restaurant tech innovation. “This is all about disruption,” says Stratis Morfogen, co-founder of Brooklyn Dumpling Shop. “Disrupting the QSR industry, disrupting traditional kitchen operations, …
Minneapolis and Bolingbrook, Ill. — Target Corporation and Ulta Beauty have formed a strategic, long term partnership to transform the beauty landscape with Ulta Beauty at Target. Ulta Beauty’s shop-in-shop concept will debut at more than 100 Target stores nationwide and online at www.Target.com beginning in 2021. The partnership brings Ulta Beauty’s best-in-class beauty authority to millions of guests who love the ease and convenience of Target’s one-stop shopping experience. It also provides beauty brands an opportunity to expand and grow in a new, industry-leading omnichannel retail experience. “The durable …