Mergers & Acquisitions

Secaucus, N.J. -- Syms Corp. and its Filene’s Basement subsidiary said Wednesday that they have filed for Chapter 11 bankruptcy and will liquidate all stores and assets over the coming several months. Syms acquired the century-old Filene’s out of bankruptcy in 2009 for $63 million.

Chicago -- A Wednesday report by Challenger, Gray & Christmas said that job cuts announced by U.S. employers increased in October from the same month last year.

According to the report, planned firings rose 13% to 42,759, from 37,986 in October 2010, boosted by job cuts by government agencies and financial companies.

Houston -- ATM owner Cardtronics said Wednesday it has signed an agreement to provide ATM services to grocer Harris Teeter.

As part of the agreement, Cardtronics has initially installed 100 ATMs for Harris Teeter in Florida, Maryland, North Carolina, South Carolina, Tennessee and Virginia. Additionally, the agreement provides Cardtronics the exclusive right to install ATMs in new Harris Teeter stores, as well as to transition all existing non-bank branch cash machines at Harris Teeter stores to Cardtronics' ATMs, over time.
 

Houston -- ATM owner Cardtronics said Wednesday it has completed its acquisition of Access to Money, an operator of merchant-owned ATMs and provider of cash machines to two major multi-unit retailers.

“We anticipate an efficient and seamless integration of Access to Money's operations," said Steve Rathgaber, CEO, Cardtronics.

WAYNE, N.J. — Toys“R”Us announced that it has entered into a joint venture with Li & Fung Retailing that would make Toys"R"Us Inc. the majority shareholder of Toys"R"Us operations in Southeast Asia and Greater China. With this agreement, the existing Toys“R”Us licensed operations throughout Asia, which currently consist of more than 100 stores and offices across nine markets, will become 70% majority owned and controlled by Toys“R”Us Inc. and 30% owned by Li & Fung Retailing.

Jacksonville, Fla. -- Stein Mart said Monday it has completed a new $100 million senior secured revolving credit facility with Wells Fargo Bank, N.A. to replace an existing $150 million revolving credit facility, which was maturing in early 2012.

The new facility can be increased to $150 million and matures in February 2017. The revolving credit is for general corporate purposes, including issuing standby and commercial letters of credit, and provides an additional source of liquidity, according to Stein Mart.

San Jose, Calif. -- VeriFone Systems said Tuesday it has acquired mobile retail solution-provider Global Bay Mobile Technologies. According to VeriFone, the acquisition is part of its strategy to integrate mobile with retail and payments, extending new smartphone- and tablet-based shopping and payment experiences to retail organizations.

Terms of the transaction, which closed effective Tuesday, were not disclosed.

DALLAS — Zale Corp. announced that Subha Ramesh has been named SVP real estate. Ramesh will report to Matt Appel, chief administrative officer.