Boston — Gordon Brothers plans to acquire the Wet Seal retail brand. Launched in 1990, Wet Seal is known for its surf-and-sun aesthetic for fashion-focused teens. The acquisition also includes other brands within the Wet Seal portfolio such as Arden B, Blink, Chic Boutique and several others. The transaction is pending final court approval.
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DeWitt, Mich. — DENTCO is commemorating its 40th anniversary this year. From working a sod field as a high school student back in the 1960s, DENTCO’s founder, Greg Dent, dreamed of owning his own company; little did he know that it would grow into a major national player in the retail store and restaurant maintenance industry.
Glendale, Calif. — DineEquity, Inc., the parent company of Applebee’s Neighborhood Grill & Bar® and IHOP®, has accepted the resignation of its chief financial officer, Thomas W. Emrey, effective March 15, 2017. Emrey is leaving to accept the CFO position at Munchkin, Inc., a leading global infant products lifestyle brand.
New York City — As expected, Sycamore Partners has acquired The Limited’s brand and other related intellectual property assets for more than $26 million. The Limited had filed for bankruptcy in January and had begun closing all 250 stores. Sycamore plans to reintroduce the brand to the marketplace at a later date.
Pittsburgh — Renowned seafood restaurant Eddie V’s will open in Pittsburgh on March 6, 2017. The new, 274-seat restaurant will open in the historic Union Trust Building, joining the architectural landmark that recently underwent a $100 million restoration.
Atlanta — Tropical Smoothie Café will open the state of Michigan’s 50th location in Portage on March 4, 2017. This restaurant, located at 230 W. Milham Ave., will mark the second location in the region for franchisees Eduardo Ramos and Corina Groeger, as well as a milestone achievement for area developers Craig and Dianne LeMieux, and Debbie King, who have successfully helped to expand the brand’s presence throughout Michigan since 2005.
New York City — Saks Fifth Avenue has completed its newest store and third New York City location, Saks Downtown Men’s. The 16,000-square-foot store is located at the northern end of the burgeoning Brookfield Place in lower Manhattan. A dedicated Saks women’s store opened on the south side of Brookfield Place in September 2016.