Mergers & Acquisitions

New York -- Forever 21 opened a 36,000-sq.-ft. store on Manhattan’s Fifth Avenue, joining such other fast-fashion retailers already in the neighborhood as Uniqlo, H&M and TopShop.  

The four-level space houses all of retailer’s collections under one roof, including Forever 21 Men. The store is located in a building that formerly housed an H&M store, which closed in December when the retailer moved to a different location on Fifth and 48th Streets.

Chesapeake, Va. - Dollar Tree Inc. is arranging financing for its pending acquisition of Family Dollar Stores Inc. To that end, Dollar Tree has priced a private offering of $$2.5 billion of senior notes due 2023 and $750 million of senior notes due 2020. The 2023 notes will bear an annual interest rate of 5.75% and the 2020 notes will bear an annual interest rate of 5.25%.

Dollar Tree has also arranged for a $1 billion term loan with interest of LIBOR plus 2.25% and a $3.95 billion term loan with interest of LIBOR (subject to a 0.75% floor) plus 3.5%.

Melville, N.Y. -- A&G Realty Partners, a leading commercial real estate, advisory and investment group, has been retained by RadioShack to manage the sale of retail store leases and warehouses following the company's recent Chapter 11 bankruptcy filing.

Phoenix – Same-store sales rose 2.6% at PetSmart Inc. during the fourth quarter of fiscal 2014. Average ticket increased 2%, and same-store transactions increased 0.6%.

Facing significant headwinds in its core business of bookselling, Books-A-Million has received a take-private proposal by the family who hold a majority of the company's shares.

The Anderson family has proposed to acquire 100 percent of the company's outstanding shares for $2.75 per share. Books-A-Million’s board of directors has appointed a special committee of independent directors to consider the proposal. The special committee has retained King & Spalding LLP as its legal counsel, and is in the process of retaining financial advisers.

London -- British women’s activewear brand Sweaty Betty plans to expand its presence in the United States. The London-based company has received a strategic growth investment from U.S. private equity firm Catterton. Sweaty Betty operates more than 40 stores in the United Kingdom, and two in the United States, where it also recently launched a website.

Chicago -- Famed British toy retailer Hamleys is coming across the pond. The 255-year old company, famous for has retained JLL to facilitate a multiple store roll-out throughout the United States.

Every time a retailer files for bankruptcy I am reminded of a harshly appropriate comment Jay Leno made in a monologue years ago after an icon of American retailing succumbed to market forces.

Montgomery Ward (remember them?), a company with an illustrious history that had a tremendous influence on the evolution of the retail industry, filed for bankruptcy in 1997 and was later liquidated.