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Liberty University to Redevelop Portion of Mall Near Campus

by Katie Lee

Lynchburg, Va. — The first week of January, River Ridge outlined the next phase of its redevelopment, beginning with the demolition of the former Macy’s building on the West End of the property scheduled for first quarter 2021. The revitalized West End is envisioned as River Ridge’s restaurant and entertainment hub along with traditional retail and personal services options. It will provide a contemporary, open-air shopping experience with higher store elevations and urban-esque storefront designs, as well as an outdoor venue for family themed community events. “Now that updates to the …

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Loves Furniture & Mattresses Files for Chapter 11 Bankruptcy Protection

by Katie Lee

Warren, Mich. — Loves Furniture & Mattresses, owned by Dallas-based private equity firm U.S. Assets Inc., filed for Chapter 11 bankruptcy protection in early January amid struggles brought on by the COVID-19 pandemic. Loves was formed in April of this year and acquired 27 Art Van Furniture locations across Michigan, Pennsylvania, Ohio, Illinois, Virginia and Maryland in May. That deal did not include the stores’ underlying real estate, which had already been sold off, according to reports by the Detroit Free Press. The company also opened or acquired 13 additional …

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Macy’s to Shutter 45 More Locations, Including Longtime Store at Chicago’s Water Tower Place

by Katie Lee

Chicago — Macy’s will close its longtime department store at Water Tower Place in Chicago, according to several media reports. The downtown mall is situated on the Magnificent Mile. Macy’s will begin a clearance sale this month at the 170,000-square-foot store. The retailer will continue to operate nearby stores in Skokie, Oak Brook, Schaumburg and Orland Park, Ill. In early 2020, before the COVID-19 pandemic, Macy’s announced that it would close 125 stores nationwide over a 3-year period in an effort to right-size its store fleet. During the first week …

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Bed Bath & Beyond Appoints Retail/Brand Veteran as GM of buybuy BABY

by Katie Lee

Union, N.J. — Bed Bath & Beyond Inc. has named Patty Wu as senior vice president and general manager for buybuy BABY, effective January 18. Wu will report to John Hartmann, executive vice president and chief operating officer at Bed Bath & Beyond Inc. and president of buybuy BABY. Wu will be responsible for growing buybuy BABY and its customer base by executing a six-point strategy and capital investment plan that was outlined during the company’s recent Investor Day. The strategy will include extending the product range to include items for young …

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MARQUE Luxury Continues U.S. Expansion with New Location in New York City

by Katie Lee

New York City — MARQUE Luxury, the wholesale industry’s leading authority in authentic pre-owned designer goods, has opened its New York City showroom located at 261 5th Ave. in Manhattan. MARQUE’s New York City showroom is the first in the Northeast and third East Coast location. The opening will also add a new business development manager/account manager to MARQUE’s corporate team, continuing the company’s aggressive expansion plans in the United States ahead of the New Year and adding talented, experienced, industry veterans to its roster. Throughout the U.S. and online, …

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Crate and Barrel Selects Glympse to Enhance Curbside Pickup Experience 

by Katie Lee

Northbrook, Ill. — Crate and Barrel is enhancing its curbside pickup with Glympse, a day-of-service mobile communications platform that facilitates and delivers proactive engagement between customers and store associates. The service is one of many enhancements in the retailer’s drive to meet customers where and how they want to shop by providing modern, digitally-forward shopping experiences that are personalized and flexible. Already, Glympse has afforded shorter wait times, streamlined operations and positive reactions from customers. Glympse delivers a modern customer experience by significantly reducing calls to the store and minimizing …

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Simon Property Group Completes Acquisition of Taubman Centers, Inc.

by Katie Lee

Indianapolis — Simon Property Group, Inc. has completed its acquisition of an 80% ownership interest in The Taubman Realty Group Limited Partnership (TRG) for approximately $3.4 billion. Under the terms of the transaction, Simon, through its operating partnership, Simon Property Group, L.P., acquired all of Taubman Centers, Inc. (TCO) common stock for $43.00 per share in cash, and the Taubman family sold approximately one-third of its ownership interest at the transaction price and remains a 20% partner in TRG. “We are very pleased to complete this transaction and to add …

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Planet Fitness Unveils New Prototypes Now Open for the New Year

by Katie Lee

St. Louis — Planet Fitness has partnered with Poettker Construction on three health fitness clubs located throughout the greater St. Louis area in 2020. Poettker served as the construction manager for the Festus, Washington and Ballwin, Mo., locations, which opened to members in time for the new year. The Festus and Washington locations each feature a new two-story ground-up prototype with a gross floor area of 30,000 square feet, allowing ample space for hundreds of machines and free weights. Construction for the Ballwin location, which opened in late November 2020, …

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Former Pet Valu Stores in 7 States to Reopen as Pet Supplies Plus

by Katie Lee

Livonia, Mich. — Closing its record-breaking growth year on a positive note, Pet Supplies Plus will acquire an estimated 40 previously operated Pet Valu locations throughout Indiana, Kentucky, Maryland, New Jersey, Ohio, Pennsylvania and Virginia with some locations to reopen as Pet Supplies Plus as early as January 2021. News of the conversions comes after Pet Valu announced in November 2020 it was shutting down all U.S. operations, including its 358 stores. By transforming and rebranding some of these store locations to Pet Supplies Plus, many jobs will be saved …

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The Home Depot Completes Acquisition of HD Supply

by Katie Lee

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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