Mergers & Acquisitions

Walmart is turning to the head of its Latin American business to take over as CEO of Walmart de Mexico.

Enrique Ostale, who is chairman of the board of the retailer's Latin American business, will take over as Mexico chief executive on Jan. 1. The position will oversee Walmart's operations in Mexico and Central America.

Another mall-based retailer has announced that it is in default and struggling for survival.

Body Central Corp. announced that it is in default on $18 million in debt and is exploring strategic alternatives, the Jacksonville, Florida-based company said in a statement.

The company also said it is experiencing “significant liquidity problems,” and is exploring options, including a possible bankruptcy filing.

New York -- Leonard Lieberman, former chairman and CEO of Supermarkets General, which owns Pathmark, died at his home in Hoboken, N.J., on Jan. 2, according to an obituary on NJ.com. He was 85. The cause of death was heart failure.

New York -- The specialty apparel and home goods chain C. Wonder is shuttering its remaining stores, according to Buzzfeed. The company, founded in 2011 by Christopher Burch, ex-husband of Tory Burch, quietly closed a number of its 32 stores in November. It is now closing its remaining locations, 11 in total, the report said.

New York – Brooks Brothers Group Inc. has selected the Asset Based Lending (ABL) Group of TD Bank as the joint lead arranger in a $250 million credit facility. The amount of TD’s commitment and terms of the financing were not disclosed.

New York -- In a deal that will greatly expand its luxury reach, Coach Inc. will acquire upscale footwear brand Stuart Weitzman Holdings from private equity firm Sycamore Partners. Coach will make initial cash payments of approximately $530 million to Sycamore Partners, and, in addition, will pay the firm up to another to $44 million in contingent payments upon hitting “selected revenue targets” over the next three years.

Department stores could be in for a fresh approach from Coach, following its announcement that it will acquire upscale footwear brand Stuart Weitzman.

Coach will make initial cash payments of approximately $530 million to Sycamore Partners, and, in addition, will pay the firm up to another to $44 million in contingent payments upon hitting “selected revenue targets” over the next three years.

Online warehouse club operator Green Polka Dot Box has a quirky name, but shoppers don’t seem to mind as the natural foods retailer’s December sales increased 65 percent.

"Based on early sales results, we anticipate that customer growth in this first month of the year will increase from the current level of approximately 4,200 to more than 6,000," said Rod Smith, CEO of the company. "And that we will see corresponding increases in monthly sales in January.”

Leonard Lieberman, former chairman and CEO of Supermarkets General, which owns Pathmark, died at his home in Hoboken, N.J., on Jan. 2, according to an obituary on NJ.com. He was 85.

According to the obituary, his wife, Arlene, said the cause of death was heart failure.

It didn't take long for former Walmart de Mexico executive Scot Rank to land a new job.

Mexican dairy company Grupo Lala has appointed Rank, the former chief executive officer of Walmart de Mexico, as its new chief executive to replace retiring top boss Arquimedes Celis, the company said.

Celis, who served as CEO for 14 years, will retire on June 30 but continue as a board member at the company, one of Latin America's largest dairy producers.