kristin hiller

Party City Files for Chapter 11 Bankruptcy

by Katie Lee January 19, 2023

Woodcliff Lake, N.J. — Party City Holdco Inc. has filed for Chapter 11 bankruptcy. The restructuring process is expected to substantially reduce the company’s debt and optimize its capital structure and liquidity. The company expects to complete the restructuring process in the second quarter of this year. Party City’s more than 800 stores will remain open during the bankruptcy process. The company says it will continue to advance its key initiatives underway, such as converting stores to next-generation prototypes, evolving Halloween City pop-up stores, building out its online shopping experience, …

January 19, 2023

Retail, Restaurant Industries Embrace Post-Pandemic Design Shifts

by Katie Lee July 5, 2022

— By Kristin Hiller — As the nation emerges on the other side of the pandemic, the retail and restaurant industries are tasked with adapting their store designs and business models to match consumer behavioral shifts. Shoppers and diners alike want to make purchases easily with multiple options for ordering and pickup. Border Foods, one of the largest privately held Taco Bell franchisees in America, enlisted the services of Minneapolis-based design consultancy Vertical Works Inc. in 2020 to create a new restaurant design. The result was Defy, a two-story …

July 5, 2022

News retailers

AMC Theatres Raises $917 Million of Investment Capital, Says Bankruptcy is ‘Completely Off Table’

by Katie Lee January 26, 2021

Leawood, Kan. — In an effort to remain financially afloat amid the COVID-19 pandemic, AMC Entertainment Holdings Inc. has raised or signed commitment letters to receive $917 million of new equity and debt capital. The Leawood, Kan.-based movie theater company says the increased liquidity should enable it to survive well into 2021. Of the $917 million, AMC raised $506 million of equity from the issuance of new common shares. Additionally, the company executed commitment letters for $411 million of incremental debt capital from upsizing and refinancing its European revolving credit …

January 26, 2021

News retailers

Stein Mart Files for Chapter 11 Bankruptcy, Plans to Close Most Stores

by Katie Lee August 12, 2020

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 …

August 12, 2020

News retailers

Dollar General Plans $65M Distribution Center, Expansion of Cold-Storage Footprint

by Katie Lee August 11, 2020

Walton, Ky. — Dollar General has unveiled plans to open a 630,000-square-foot distribution facility in Walton, Ky., approximately 20 miles south of Cincinnati and the Ohio border. The $65 million investment is expected to bring 250 jobs to the city and support 800 stores. The Walton facility will serve as Dollar General’s 18th distribution center. Construction is scheduled to begin in September with operations to begin in January. Dollar General also plans to build three additional DG Fresh facilities to support a shift toward self-distribution of products that require cold …

August 11, 2020

News property management retailers

Simon Terminates $3.6 Billion Taubman Merger Agreement

by Katie Lee June 10, 2020

Indianapolis — Simon Property Group has terminated its Feb. 9 merger agreement with Taubman Centers Inc. Simon also filed an action on June 10 in Michigan’s Oakland County Circuit Court saying Taubman breached the covenants in the merger agreement. Under the terms of the agreement, Simon was to acquire an 80% interest in Taubman for approximately $3.6 billion. Indianapolis-based Simon says its termination of the merger agreement is based on two separate grounds. “First, the COVID-19 pandemic has had a uniquely material and disproportionate effect on Taubman compared with other …

June 10, 2020

News retailers

Tuesday Morning Files for Chapter 11 Bankruptcy, Plans to Close 230 Stores

by Katie Lee May 27, 2020

Dallas — Tuesday Morning Corp. has filed for Chapter 11 bankruptcy protection. The Dallas-based retailer says the actions are in response to “the immense strain the COVID-19 pandemic and related store closures have put on the business.” Tuesday Morning is a discount home furnishings chain. The company opened its first store in 1974 and currently operates 687 stores in 39 states. The retailer expects to permanently close approximately 230 stores to focus on high-performing locations. The phased store closures will take place this summer. After closing all stores and furloughing …

May 27, 2020

News retailers

Amazon to Acquire Whole Foods Market for $13.7 Billion

by Katie Lee June 19, 2017

Seattle — Online retail giant Amazon has agreed to acquire high-end grocery chain Whole Foods Market Inc. for $13.7 billion. The all-cash transaction amounts to $42 per share and includes the Austin, Texas-based grocer’s net debt. Whole Foods Market will continue to operate stores under the Whole Foods Market brand. John Mackey will remain CEO of Whole Foods Market, and the company’s headquarters will remain in Austin.

June 19, 2017