Union, N.J. — Bed Bath & Beyond Inc. has appointed Juan Guerrero as senior vice president (SVP), chief supply chain officer, effective immediately. He will report directly to John Hartmann, COO and president of buybuy BABY, and be responsible for leading the transformation and optimization of the company’s global supply chain network. Guerrero will lead Bed Bath & Beyond’s work to reconstruct and modernize supply chain operations as it further improves the omni-always shopping experience for customers. This will include supporting strategic sourcing and the introduction of an array of …
News
Milwaukee — Seattle-style teriyaki restaurant Teriyaki Madness is planning its first foray into Wisconsin, with five new locations set to open by the end of 2020, plus a sixth in Illinois. The first shop will open at 920 S. Moorland Rd. in Brookfield in mid-September, with additional shops set to open in Hales Corners, Wauwatosa, Germantown and Pewaukee, Wis., and another to open across the Illinois border in Rolling Meadows later this year. Milwaukee-based FirstPathway Partners is responsible for bringing the restaurants to the area, which will be operated through …
Brookfield Property Group, Simon Property Group Agree to Acquire JCPenney for $1.75 Billion
by Katie Lee
Plano, Texas — Brookfield Property Group and Simon Property Group have agreed to acquire the retail and operating assets of J.C. Penney Co. for $1.75 billion at a bankruptcy auction. As part of the sale agreement, the three companies will form a property holding company (PropCos), which will include 161 of the J.C. Penney real estate assets and all of its owned distribution centers. The Plano, Texas-based retailer’s Ad Hoc Group of First Lien Lenders will own PropCos. J.C. Penney filed for Chapter 11 bankruptcy in mid-May and restructured 90% …
Atlanta — A new food hall is coming to Colony Square, the 50-year-old mixed-use destination undergoing a massive $400 million transformation at the corner of 14th and Peachtree Street in Midtown Atlanta. The food hall will open this spring and is being carefully crafted to align with the way people want to dine post-pandemic. Politan Group will operate the food hall known as Politan Row at Colony Square, according to project developer North American Properties (NAP). The founder and CEO of Politan Group, Will Donaldson, launched the company in 2014 …
Cheshire, Conn. — Park Assist® has promoted Ron Votto to vice president. With over 30 years of experience in the parking technology sector, Votto brings a depth of industry knowledge and leadership skills that make him an optimal addition to the executive leadership team at Park Assist. In his new role, Votto’s responsibilities will expand to include several of the legal and contractual review processes, and he will play a crucial role in managing the entire business alongside Park Assist’s existing executive team. Votto will be responsible for implementing a …
Irving, Texas — The Michaels Companies, Inc., North America’s largest arts and crafts retail chain, recently transformed two existing hometown retail locations as part of a larger strategy to reimagine the optimal maker shopping experience. Customers in the North Texas suburbs of McKinney and Plano can expect an entirely new look and feel when they visit their local store. “At Michaels, we are here for the Maker and the launch of our new concept stores is another way we are creating a more immersive and impactful experience for them,” says …
Louisville, Ky. — Papa John’s International, Inc. has signed its largest traditional store development agreement in North America in over 20 years, accelerating growth of the Papa John’s brand in the Philadelphia area. Under the agreement, HB Restaurant Group, which currently owns 43 restaurants in the Mid-Atlantic area and has been a Papa John’s franchisee since April 2019, is to open 49 new stores in Philadelphia and southern New Jersey between 2021 and 2028. “Papa John’s has long offered franchise investors one of the fastest paybacks in our industry. Recent …
Portland, Ore. — Built around the concept of “Dwelling Outdoors Together,” Snow Peak has opened a new U.S. headquarters and retail flagship in Portland, Ore. The grand opening will begin on September 11. In 20 years, Snow Peak has grown its U.S. presence from a modest distributorship to a 40-person team with retail locations on both coasts and ambitious plans for growth in the next two decades. The new headquarters and flagship embody the brand’s heritage and commitment to restoring humanity through time in nature. “I first visited the U.S. …
Auburn, Ala. — Chicken Salad Chick, a Southern-inspired, fast-casual chicken salad restaurant concept, will be expanding in North Carolina with its newest restaurant in Cary. Marking the brand’s first restaurant in the greater Raleigh area and first in the Triangle region, the Cary opening comes just a month after the recent opening in High Point and highlights Chicken Salad Chick’s continued development in North Carolina. The Cary restaurant will celebrate its grand opening on September 22. Chicken Salad Chick is closely following North Carolina’s state and local guidelines for COVID-19 …
Union, N.J. — Bed Bath & Beyond Inc. has appointed Rick Wilkins as regional vice president for the West region, effective immediately. He will report directly to Gregg Melnick, executive vice president (EVP) and chief stores officer, and will play a key role in the planning and execution of the company’s store optimization strategy. Wilkins will oversee operations for approximately 300 of Bed Bath & Beyond’s retail stores across 20 states, and execute the previously announced store optimization plan as the company continues to enhance its digital-first, omni-always shopping experience online and in-store. He will …