Finance & Capital Management

San Jose, Calif. – RetailNext Inc., a provider of Big Data analysis solutions for physical retail, has completed $30 million in growth financing. The company drew strategic investments from Qualcomm Inc. through its venture investment group Qualcomm Ventures, Tyco and American Express.

Nokia Growth Partners (NGP) led the round which included new investor Activant Capital Group and existing shareholders August Capital, StarVest Partners and Commerce Ventures. The financing brings the total capital raised by RetailNext to $59 million.

With the official start of summer underway, one-third of small to medium-size business owners (SMBs) say they will not be able to take a vacation this year, according to the latest Small Business Index conducted by Office Depot.

Those who are able to get away this year can do so because they have reliable staff to cover for them while they are away from the office (35%) and have technology that keeps them connected no matter where they are (32%).

New York -- Crumbs Bake Shops on Monday closed its 48 stores. The cupcake store chain has been struggling for some time. In a May filing with the Securities and Exchange Commission, it warned that it "may be forced to curtail or cease its activities" if its operations didn't generate enough cash flow.

Last week, Nasdaq suspended the trading of Crumbs shares on the grounds that the company no longer had at least $2.5 million in shareholder equity, or met benchmarks for an annual net profit.

Mumbai, India – In a move that may have implications for Wal-Mart, French retailer Carrefour S.A. will reportedly shutter its five Indian wholesale stores by the end of September 2014. According to Reuters, Carrefour is in advanced talks to sell its Indian assets to an unspecified buyer.

Having passed the calendar’s mid-point, we thought it would be interesting to take a look at the most viewed stories of the year to date on Chainstoreage.com.

New York -- The American Apparel saga continues, with the beleaguered chain receiving a notice of default from its longtime lender, Lion Capital.
   
The default notice was based on the claim that founder Dov Charney ceased to be CEO of the company, according to a regulatory filing with the Securities and Exchange Commission today. (Lion had a stipulation in its loan agreement, which was signed last year, stating that if Charney left the company, it would be in default.)
  


Sears Holdings has named Kristin M. Coleman as SVP, general counsel and corporate secretary. Coleman most recently served as Brunswick Corporation's VP, general counsel and corporate secretary.

Dublin, Calif. -- Ross Dress for Less will open three new stores in Indiana on July 19. The stores include Waterford Park South Shopping Center in Clarksville, Shops on Main in Schererville, and Erskine Village in South Bend. 

These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.