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Mergers & Acquisitions

  • Survey: Retail sector least prepared to comply with new FASB lease accounting standards

    Just 9.8% of more than 5,400 financial and accounting professionals say their companies are prepared to comply with the new Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) lease accounting standards.   That is one of the highlights of a recent Deloitte poll. http://www.slideshare.net/DeloitteUS/new-lease-accounting-standards-are-companies-prepared-to-comply-62702689  

  • Grocer files amendment for possible spin-off

    Supervalu has moved closer to spinning off its discount grocery store division.
     
    The supermarket operator filed Amendment No. 1 to its Form 10 Registration Statement with U.S. Securities and Exchange Commission in connection with the anticipated spin-off of its Save-A-Lot business into a separate, publicly traded company.

  • Will this be the next big store brand from Williams Sonoma?

    A retailer that specializes in reproductions of classic lighting products and house parts is quietly expanding under the ownership of Williams-Sonoma.   

  • CVS Health debuts across Oregon through Target

    Oregon, a new market for CVS Health, is the latest market where Target pharmacies have been successfully transitioned to CVS Health, the Rhode Island pharmacy operator announced Wednesday. The new CVS pharmacies, located in several metropolitan areas, including Portland, Eugene and Medford, are being operated through a store-within-a-store format.

  • Bankruptcy bid date set for Hancock Fabric

    New York City-based RCS Real Estate Advisors has announced a bid deadline of June 16, 2016 for the remaining available leases of retailer Hancock Fabrics.
     
    RCS began the process of selling the retailer's leases following Hancock Fabrics' February bankruptcy announcement. Hancock Fabrics operated 250 retail stores in 37 states when it filed for Chapter 11 bankruptcy protection on Feb. 2, 2016. Spence Mehl, senior VP of RCS, made the announcement.
     

  • New York grocer gets Chapter 11 ruling

    Fairway Group Holdings Corp., the parent company of Fairway Market, has received a verdict on its May 2016 bankruptcy filing.

    The iconic New York food retailer had its Chapter 11 bankruptcy reorganization plan unanimously accepted by 100% of voting secured lenders and confirmed by Bankruptcy Judge Michael E. Wiles. Fairway is expected to emerge from bankruptcy during the week of June 20, 2016 with approximately $50 million in cash, a $140 million reduction of its debt and a reduction of annual debt service obligations by up to $8 million.

  • CVS Pharmacy opens for business within Washington Target locations

    CVS Health on Tuesday announced that the first CVS Pharmacy locations in Target stores are now open in Washington. 

  • Bebe launches new global growth initiative

    Bebe Stores Inc. is building upon efforts to turn itself around and boost its international presence.
     
    The specialty apparel retailer, which launched a China growth plan in 2015, has entered into a joint venture with Bluestar Alliance LLC to license its brand domestically and globally. Bebe has received $35 million in connection with the formation of the joint venture.
     

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