Modesto, Calif. — The Save Mart Companies and Kingswood Capital Management, LP have named Shane Sampson as executive chairman of the California-based, regional grocery retailer. Sampson is a fourth-generation grocer who brings nearly four decades of experience to The Save Mart Companies in building brands, implementing innovative marketing and merchandising programs, and leading strategic operations. Most recently, he served as Albertsons Companies’ chief marketing and merchandising officer. He was instrumental in driving Albertsons’ merchandising strategy during a period of monumental growth during which he oversaw significant development and innovation of …
Kingswood Capital Management
Union, N.J. — Bed Bath & Beyond Inc. has completed the sale of Cost Plus World Market to Kingswood Capital Management, a Los Angeles-based private equity firm. Both companies have agreed to a transition services agreement following the close of the transaction to help ensure business continuity. “The completion of this transaction marks the conclusion of our work to streamline our portfolio,” says Mark Tritton, president and CEO Bed Bath & Beyond. “These efforts will help fund our transformation and put us in the position to start fiscal 2021 with …
Jacksonville, Fla. — Discount retailer Stein Mart Inc. has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Middle District of Florida. The motion is an effort to maintain operations, including “the payment of employee wages and benefits without interruption, payment of suppliers and vendors in the normal course of business and the use of cash collateral.” Jacksonville, Fla.-based Stein Mart expects to close a significant portion, if not all, of its brick-and-mortar stores. The company has launched a store closing and liquidation process but will …