Finance & Capital Management

Washington, D.C. — Grosenor Americas announced that tapas restaurant Boqueria will open a 5,331-sq.-ft. restaurant in a former Penang Malaysian Cuisine space in Washington, D.C.

Boqueria, which operates two New York City locations, is slated to open fourth quarter 2011.

Grosvenor Americas also announced that Irish Whiskey will open a 3,815-sq.-ft. bar in the adjacent former Porters Dining Saloon space.

New York — Francesca's Holdings Corp. will price its initial public offering of 10 million shares between $14 and $16 a share, the Houston Business Journal reported. 

The women’s specialty apparel retailer will trade on the Nasdaq Stock Exchange, under the ticker symbol FRAN, the report said.

In March 2011, private equity firm CCMP Capital acquired a controlling interest in Francesca’s, which operates 160 stores. 

COMMERCE, Calif. — 99 Cents Only Stores reported total sales of $368.3 million for the first quarter of fiscal 2012 ended July 2.  This represents an increase of 6.3% over total sales of $346.5 million for the same quarter last year.  

BOCA RATON, Fla. — Office Depot has combined its two largest divisions and named Kevin Peters to the new role of president of North America. The change gives Peters, who previously served as president of North American retail, continuing oversight of the retail group in addition to leadership of the company’s North American business solutions division which is focused on large and mid-size commercial customers.

BENTON HARBOR, Mich. — Whirlpool Corp. announced that it was inducted into the Made in the USA Foundation's Hall of Fame at an awards dinner on July 2 in Santa Monica, Calif. Whirlpool was the winner of the Large Kitchen Appliances Category.

Dallas< — Alliance Data Systems Corporation  announced it has signed a long-term renewal agreement to continue providing private label credit card services for The RoomPlace.

Under terms of the agreement, Alliance Data will continue providing The RoomPlace with private label credit card services, including account acquisition and activation; receivables funding; card authorization; private label credit card issuance; statement generation; remittance processing; customer service functions; and marketing services. 

New York — Najafi Cos., the private equity firm that tentatively agreed to purchase bankrupt Borders Group, is is reportedly no longer interested in Borders unless its conditions are met, The Wall Street Journal reported.

Najafi, which owns the Book of the Month Club, said in a statement that financial advisors “have elected another option which is in contrast to what he had envisioned for the future of Borders.”

The debate over whether online retailers should be collecting sales tax is one of those “level playing field” issues that puts traditional brick and mortal retailers at a disadvantage. Or does it?