Finance & Capital Management

New York City -- A trustee for bankrupt retailers Movie Gallery and Hollywood Video reached an agreement on Thursday with all 50 states over how the defunct company collects late fees and other charges from its former customers, the Associated Press reported.

The agreement bars debt collectors from filing negative credit reports or threatening to file such reports against former customers, the report said.

East Rutherford, N.J. -- Triple Five on Monday gave more information on its plans to transform the controversial and long-delayed Xanadu project in New Jersey’s Meadowlands Sports Complex, in East Rutherford, into what it promises will be “the world's largest and premier tourism, entertainment and retail destination, eventually reaching 7.5 million sq. ft.”

NEW YORK — Wal-Mart Stores said that by the end of the year it will have invested the equivalent of approximately $756 million to expand its operations in Brazil.

Marcos Samaha, president of Wal-Mart's Brazilian subsidiary, said in a Tuesday statement that 1.2 billion reals ($755 million) will be used to build 80 stores, renovate existing locations and improve logistics.

Boston -- Clothing and accessories retailer Metro Park has filed for bankruptcy and is closing all 69 stores nationwide.

The store closings and liquidations begin on May 6. Gordon Bros. Group and Hilco Merchant Resources are running the going-out-of business sales for the retailer.

Based in Los Angeles, Metro Park was founded in 2000. Specializing in upscale trendy fashions, Metro Park has been feeling the heat of increased competition from such fast-fashion retailers as H&M.
 

Columbia, S.C. -- Edens & Avant announced it has named Ed Senenman as senior VP, investments for the company.
       
Senenman will be located in Edens & Avant’s new New York City office as the company continues to expand its NYC presence as part of an overall strategy of focusing on retail investments in major East Coast markets.
       
Senenman was previously senior director of acquisitions for Federal Realty.

New York City -- The unemployment rate in April edged up to 9.0%, compared with 8.8% in March 2011.

Construction employment was about unchanged in April, according to Friday's report from the Bureau of Labor Statistics. This industry has shown little net movement since early 2010, after having fallen sharply during the prior three years.

Overall, the economy added 244,000 jobs in April, a higher gain than anticipated by analysts.

Ashburn, Va. -- Commerce, Mich.-based LaVida Massage announced it will open its first Virginia location, located at Greenway Corporate Drive, in Ashburn.
      
The new 3,200-sq.-ft. location is slated to open in early June.

COLUMBUS, Ohio -- Big Lots reported that sales for its first quarter ended April 30 were $1.2 billion, a decrease of 0.5% compared with $.22 billion for the first quarter of fiscal 2010.  Comparable-store sales for stores decreased 3.6% for the first quarter of fiscal 2011.