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Mergers & Acquisitions

  • Sears posts $279 million loss for Q1

    Hoffman Estates, Ill. -- Sears Holding Corp. reported a bigger-than-expected net loss of $279 million for the first quarter of fiscal 2013, compared to net income of $189 million in the first quarter of fiscal 2012. The retailer also said that it is considering selling its protection-agreement business in an ongoing effort to raise cash as it struggles to improve its profits.

  • GE Capital is administrative agent on credit facility for Lord & Taylor

    Norwalk, Conn. -- GE Capital announced it is administrative agent on a $550 million senior secured credit facility for Lord & Taylor, a leading North American retailer. The proceeds will be used to refinance debt, support ongoing working capital needs and for other corporate purposes.  

    GE Capital also provided the company with interest rate risk management products and services.  GE Capital Markets served as joint lead arranger and book runner.
     

  • Cold weather delivers ‘unacceptable’ Q1 results for Sears

    HOFFMAN ESTATES, Ill. — Sears Holding Corp. reported a bigger-than-expected net loss of $279 million for the first quarter of fiscal 2013, compared to net income of $189 million in the first quarter of fiscal 2012. 

    The retailer also said that it is considering selling its protection-agreement business in an ongoing effort to raise cash as it struggles to improve its profits.

  • Former P&G CEO returns

    Cincinnati – Former CEO A.G. Lafley, 65, is returning to Procter & Gamble in his former position. Lafley is assuming the role of CEO, president and chairman of the board immediately, and will replace current CEO Bob McDonald, who is retiring June 30. Procter & Gamble has been involved in restructuring efforts, including thousands of layoffs, for the past year and a half.

  • West Elm going global

  • J.W. Childs exec appointed to Brookstone’s board

    MERRIMACK, N.H. — Brookstone, a multichannel specialty retailer, has appointed J.W. Childs executive William E. Watts as its new executive chairman of board.

  • Office Depot, Office Max select BCG for integration support

    Boca Raton, Fla. – Office Depot Inc. and OfficeMax Incorporated have selected The Boston Consulting Group (BCG) to provide integration support for the two companies’ pending merger. BCG will provide a dedicated onsite support team and work with management from both companies to establish a detailed integration plan and establish an overall vision and priorities for the merger.

  • Brookstone names executive chairman

    Merrimack, N.H. -- Brookstone announced the appointment of William E. Watts as the company's new executive chairman of the company's board of directors, effective immediately.

    Watts has been a partner of J.W. Childs Associates since June 2001. Previously, he was president and CEO of GNC from 1991 until 2001.

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