Phoenix — Sprouts Farmers Market has expanded its grocery pickup service to 46 stores in Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee as the grocer faces heightened demand amid the COVID-19 outbreak. The service allows customers to plan grocery pickup for the same day or to schedule several days in advance. Their personal shopper will bring the groceries to a designated pickup parking spot when the customer arrives and checks in. A list of specific stores offering the service was not disclosed. The Phoenix-based grocer recently expanded this …
COVID-19
Dallas — Gold’s Gym, a fitness chain founded in California in 1965 and now headquartered in Dallas, has filed voluntary petitions for protection under Chapter 11 of the U.S. Bankruptcy Code as it works to restructure its debt. In a statement issued earlier this week, the company said that the financial fallout from COVID-19 has forced it to permanently close about 30 company-owned gyms. The company also said that the filing would not impact its licensing division and was not associated with any of its locally owned franchise gyms. Gold’s …
Tampa, Fla. — There is no good time for store flooding, but it’s even more difficult for facility managers during the COVID-19 pandemic. However, for one Georgia facility manager, MaintenX was able to turn around a bad situation, quickly, professionally and — most importantly — safely. When the mobile phone store reopened, the staff faced 3 inches of standing water throughout the shop (due to a leaky toilet), and the adjacent store was also damaged. After reaching out to MaintenX, its Emergency Response crew was able to respond in less …
Dallas — Neiman Marcus Group LTD LLC has entered into a Restructuring Support Agreement (RSA) with a significant majority of its creditors to undergo a financial restructuring, substantially reducing its debt load and interest payments and supporting continued operations during the COVID-19 pandemic and beyond. To implement the RSA, the company has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. As part of the process, Neiman Marcus Group has secured debtor-in-possession (DIP) financing of $675 million from creditors to enable …
Seattle —Nordstrom plans to permanently close 16 of its 116 full-line stores, with the company incurring the non-cash impairment charges associated with the closures. The clothing retailer hopes the closures will better position it for the long-term retail landscape at the end of the COVID-19 pandemic. The list of stores was not released. “We’ve been investing in our digital and physical capabilities to keep pace with rapidly changing customer expectations,” says Erik Nordstrom, CEO of Nordstrom Inc. “The impact of COVID-19 is only accelerating the importance of these capabilities in …
Indianapolis — Simon Property Group has released plans for reopening several of its malls in the first half of May. The openings are based on current state and/or local stay-at-home orders put in place as a result of the COVID-19 pandemic. Previously scheduled to open May 1, some properties in Georgia and Indiana have been delayed to a May 4 opening. View the reopening schedule here. Indianapolis-based Simon says its protocols have been reviewed and approved by experts in epidemiology and environmental health and safety. The protocols are in effort …
Oak Brook, Ill. — Let’s Pave has recognized the toll COVID-19 has taken on assisted living communities across the country. In an effort to provide a well-deserved ‘Thank You’ and support to those medical professionals, aides and staff members who are risking their health and well-being, Let’s Pave has raised more than $40,000 in 24 hours, which will be distributed to various healthcare and assisted living facilities throughout the country, starting in the Massachusetts area. The company’s goal is to raise much more over the next few weeks. Let’s Pave …
San Francisco — Curry Up Now, the nation’s largest and fastest growing Indian fast-casual concept, has launched its ‘Roll it Forward’ campaign in an effort to show gratitude for healthcare workers across the country and help those whose lives and jobs have been affected by the COVID-19 crisis. The initiative, which will be offered at all 11 of Curry Up Now’s restaurants from coast-to-coast, invites guests to purchase $12 Donation Meals that Curry Up Now will match meal-for-meal. Guests can add any denomination of Donation Meals to their ‘cart’ — …
Woonsocket, R.I. — CVS Health joined other pharmacy chains and retailers at the White House on April 27, 2020 to announce the next phase in COVID-19 testing. In addition to the large-scale test sites the company has been operating since March, CVS Health will utilize its expansive community presence to bring testing closer to home while maintaining strict safety standards. “Our industry has been united by the unique role we can play in addressing the pandemic and protecting people’s health,” says Larry J. Merlo, president and CEO, CVS Health. “We all …
Roark Capital Invests $200 Million in The Cheesecake Factory Amid Pandemic-Related Closures
by Katie Lee
Atlanta and Calabasas Hills, Calif. — Roark Capital Group, a private equity firm based in Atlanta, has invested $200 million in The Cheesecake Factory Inc., owner and operator of the chain of restaurants of the same name. The Calabasas Hills, Calif.-based company also owns and operates the North Italia chain, as well as a collection of restaurants within the Fox Restaurant Concepts subsidiary. The funds will be used to immediately help The Cheesecake Factory navigate the COVID-19 pandemic, in which its dine-in service has been closed. The company, which has …