Finance & Capital Management

Coppell, Texas -- Alco Stores Inc. on Sunday filed for Chapter 11 bankruptcy, with plans to liquidate or sell the business.    The 113-year-old retailer and its subsidiary, Alco Holdings Ltd Liability Co., filed voluntary petitions for relief in the U.S. Bankruptcy Court for the Northern District of Texas, Dallas Division.  It listed assets of $221.7 million and debt of $161.6 million.  

Plano, Texas -- J.C. Penney on Monday appointed Marvin Ellison president and CEO-designee, effective Nov. 1. Ellison, executive VP of stores for Home Depot, will also join the company’s board of directors.

Ellison, 49, will succeed Mike Ullman, III, as CEO of Penney on Aug. 1, 2015, when Ullman will become executive chairman of the board for one year.

Regional discounter ALCO Stores succumbed to market pressures and filed for Chapter 11 bankruptcy.

The operator of 198 stores in 23 states was founded in 1901 and sought to serve small underserved markets with a broad range of value priced merchandise.

Leading footwear manufacturer Wolverine Worldwide added an executive with an ideal background for a data insecure world to its board of directors.

All-Rite Construction delivers on-time and on-budget with quality you can depend on.
 

Salt Lake City – Overstock.com is building a new corporate campus, referred to as the "Peace Coliseum," which is anticipated to open during summer 2016. Overstock officials have said that from the ground level, the building will look like a corporate glass-and-concrete version of the Roman Coliseum, but from the air, the three-story building will appear as a peace sign.  

Edina, Minn. – Payment systems at 395 Dairy Queen stores and one Orange Julius store across the U.S. have been hit by a cyber attack that exposed payment card customer names, numbers and expiration dates. The company has no evidence that other customer personal information, such as Social Security numbers, PINs or email addresses, was compromised as a result of this malware infection.   

Overstock plans to break ground on its new corporate campus, which is called the "Peace Coliseum" and is scheduled to open summer 2016.

Overstock officials have said that from the ground level, the building will look like a corporate glass-and-concrete version of the Roman Coliseum, but from the air, the three-story building will appear as a peace sign.

The groundbreaking coincides with Overstock's 15th anniversary.

While merchants have spent the past nine months developing plans to drive holiday sales, another group of retail executives has been preparing to deal with the dark side of Christmas.

The recently released 2014 Food, Drink, and Consumer Goods Outlook Survey from audit, tax and advisory firm KPMG is highlighting some key initiatives that consumer goods executives are focusing on to transform their businesses. The goals range from updating operational efficiencies and technology to making a push for product innovation, according to survey results.