Atlanta — The Home Depot® has completed the acquisition of HD Supply Holdings, Inc., for approximately $8 billion. HD Supply is a leading national distributor of maintenance, repair and operations (MRO) products in the multifamily and hospitality end markets. The agreement to acquire HD Supply was announced on November, 16, 2020. “We’re thrilled to welcome HD Supply associates to The Home Depot,” says Craig Menear, chairman and CEO of The Home Depot. “The combination of the two businesses will enable us to better serve both existing and new MRO customers, …
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Atlanta — Schlotzsky’s has unveiled two new prototypes that will put its drive-thru front and center and enhance speed of service for delivery, to-go and catering. While driving off-premise sales has been underway for Schlotzsky’s for some time, it’s now become an even bigger priority. During the pandemic, 35% of Schlotzsky’s sales were driven by off-premise and were a major part of the brand’s rapid recovery. Now, Schlotzsky’s has designed two new options referred to as “Design 1800” and “Design 1000” that will lean heavily on off-premise and reduce seating. …
San Diego — Jack in the Box Inc. has named Timothy Mullany as its new executive vice president and chief financial officer, effective January 18, 2021. Mullany is a well-rounded finance leader with more than 20 years of experience in the restaurant industry, as well as hyper-growth concepts, both public and private. Most recently, Mullany served as chief financial officer at VASA Fitness. “We are excited for the addition of Tim to the Jack in the Box team. He has demonstrated strong financial leadership while supporting growing businesses in the …
Paramus, N.J. — Arena STEM, a new retail “edu-tainment” concept, opened its first U.S. location at Westfield Garden State Plaza on December 18, 2020. The flagship store is located on level two near Nordstrom. Arena STEM is a new and innovative concept that provides an interactive environment for kids and young adults to play, learn and engage with science and technology. The 40,000-square-foot facility offers hands-on experiences with real-life models, racetracks, events, contests and classes that include 3-D drawing, robotics, model making and more. “More and more STEM curriculum has …
Westlake Village, Calif. — Just over 3 weeks after filing for Chapter 11 bankruptcy, Guitar Center appears ready to already emerge from the process. In its original filings, the Westlake Village, Calif.-based musical instrument and supplies retailer reported its business of instrument purchases, rentals, repairs and music lessons suffered amid the upheaval stemming from government-mandated shutdowns in response to the COVID-19 pandemic. At a virtual hearing on December 17, 2020, U.S. Bankruptcy Judge Kevin Huennekens, based in Richmond serving the Eastern District of Virginia, approved Guitar Center’s bankruptcy plan, according …
Houston — New York-based Van Leeuwen Ice Cream is making its Texas debut at Rice Village in Houston. Van Leeuwen started as a New York City food truck in 2008 and has since grown to a crowd favorite, rapidly expanding to multiple brick-and-mortar stores along the East and West coasts. The cult favorite ice cream brand will open in 923 square feet of space in Rice Village in spring 2021. “Rice Village is thrilled to welcome Van Leeuwen to its growing list of diverse eateries and shops,” says Morgan Lera, …
Warrendale, Pa. — A new deal with Bank of America, N.A. and Tiger Finance has allowed specialty retailer rue21 (r21 Holdings, Inc.) to strengthen its financial position and enabled it to refinance its existing term loan, increase available liquidity and lower its cost of capital. rue21 amended its asset-based credit facility to increase availability to $155 million due 2025 led by Bank of America, N.A. The new capital structure will allow it to accelerate strategic growth initiatives, including omni-channel enhancements to create more engaging customer experiences. “Today is an exciting …
St. Louis — The new Drake’s restaurant and entertainment venue in Evansville, Ind., is complete, with Knoebel Construction serving as the general contractor. This is the second location that St. Louis-based Knoebel has built for the restaurant chain. Knoebel has been selected as the general contractor for all of Drake’s currently planned locations. Construction began on the Clarksville, Tenn., location earlier in December and Knoebel will break ground on Drake’s third restaurant in Louisville, Ky., in January. The 5,996-square-foot Drake’s in Evansville features one large central bar, approximately 30 televisions …
Latham, N.Y. — DWM Comprehensive Facility Solutions has promoted Samantha Sommerman to facility solutions manager to further support the company’s new organizational structure. This promotion further supports DWM’s long term strategy to improve the customer experience and accelerate growth. “Samantha’s ability to create and implement best practices coupled with her leadership and communication skills make her an asset to DWM and its clients,” says Katie Whitt, executive vice president, operations. “Samantha’s experience in multiple operations leadership positions at DWM make her a great fit for this role.” Sommerman joined DWM …
Los Angeles — California Pizza Kitchen (CPK) has appointed Judd Tirnauer as executive vice president and chief financial officer. With over 25 years of experience mainly in the restaurant and retail business, including over 10 years in the CFO role, Tirnauer will lead CPK’s financial restructuring strategy, focus on growth opportunities and oversee the accounting and finance teams. “CPK is proud to welcome Judd to the team,” says Jim Hyatt, CEO of CPK. “With his proven track record in finance with both public and private equity brands, we are confident …