Mergers & Acquisitions

Walnut Creek, Calif. -- Grubb & Ellis Co. announced that John Sechser has rejoined the company’s Walnut Creek office as senior VP retail group.

Sechser returns to Grubb & Ellis after spending nearly 12 years with Colliers International, where he was a senior VP and co-director of the company’s Walnut Creek Retail division.
 

NEW YORK -- The Jones Group Inc. announced that it has appointed Sally Ross EVP merchandising for Nine West Direct, effective immediately. Ross' focus will be on leading the merchandise initiatives for Nine West Retail, Nine West Outlet and NineWest.com, and she will report directly to Ron Offir, President, Jones Direct Group, the company reported.

New York City -- Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks. The long-expected filing will allow Borders to access new capital and reorganize its operations, Borders Group president Mike Edwards said in a statement.

Ankeny, Iowa -- Casey's General Stores said Tuesday it has signed a definitive purchase agreement to acquire 11 convenience stores from NuWay Cooperative of Trimont, Minn.

All of the stores are located in Minnesota operating under the NuMart banner and will be immediately rebranded to Casey's, according to the company. Terms of the acquisition were not disclosed.

New York City -- A Tuesday report by the Wall Street Journal said that hedge fund billionaire and Sears Holding Corp. chairman Edward Lampert has reported holding a 5.8% stake in Gap Inc.

Lampert reported the stake in a 13G filing, or a filing for passive investors, with the Securities and Exchange Commission late Monday.

His ESL Partners company and affiliates reported beneficially holding 35 million common shares.

MONTVALE, N.J. -- A&P announced that it has filed a motion seeking approval to close 32 stores in six states as the company continues to fully implement its comprehensive financial and operational restructuring. The store closures are expected to be completed in the company’s fiscal first quarter, subject to court approval.

New York City -- A&P plans to close 32 stores in six states, including four in the New York City area, Crain’s New York reported.

Among the stores slated to close are 14 Pathmarks, seven Super Fresh shops, four A&Ps and three Waldbaums, according to the report.

A&P operates 395 stores in eight states and the District of Columbia under the banners A&P, Waldbaum's, Pathmark, Best Cellars, The Food Emporium, Super Fresh and Food Basics. The company filed for Chapter 11 bankruptcy in December.

Berlin, N.J. -- A.C. Moore Arts & Crafts said Tuesday it is considering a potential sale of the company.

The arts-and-crafts retailer revealed that its board is looking at strategic options to boost shareholder value, which may also include corporate financing or raising capital. It said there has been third-party "expressions of interest," but that it won't discuss any developments unless its board approves a specific transaction.