Mergers & Acquisitions

Boston -- Gordon Brothers Group and Hilco Merchant Resources have, effective May 8, launched the total liquidation of Coldwater Creek brick-and-mortar stores and its website.

The joint-venture team is conducting closing sales at all Coldwater Creek stores and online, offering 30% to 50% off all items.

San Jose, Calif. - EBay and Invaluable are launching a partnership to offer traditional live auctions through real-time online bidding at auction houses around the world. Invaluable’s software solutions, including their online live bidding technology, will allow its partner auction houses to bring more than $4 billion of inventory onto the global eBay platform.

Dublin, Ohio – The Wendy’s Co. reported soaring net income in the first quarter of fiscal 2014 on lower costs and a sharp decline in interest expenses. The company also said it plans to open 60 new corporate and franchised stores, as well as remodel up to 400 corporate and franchised stores.

Wendy’s net income skyrocketed from $2.1 million to $46.2 million, aided by a $15 million year-over-year reduction in interest expense as a result of the company's 2013 debt restructuring.

Amsterdam, Netherlands - Thomas Nowak, senior VP merchandising for European e-commerce site Bol.com, will join the Staples team as senior VP of merchandising, Staples Europe, effective Aug. 1. Nowak will report to president of Staples Europe John Wilson, and will be a member of the European leadership team.

New York -- There are more store closings in Sears’ future. In an address at Sears Holding Corp.’s annual shareholders meeting, chairman and CEO Edward Lampert said the company would close stores and look for ways to leverage its real estate as it continues to focus on integrated omnichannel retail and its Shop Your Way rewards program.

"Closing stores is going to be part of our future," Lampert said. "I'd rather do (fewer closures) rather than more, but the world has shifted."

Montreal -- After a failed attempt to restructure under bankruptcy protection, Canadian fashion retailer Boutique Jacob said it will liquidate its inventory and close all 92 stores.

The Montreal-based chain, which operates the Jacob, Jacob Outlet and Jacob Liquidation banners, exited bankruptcy protection in 2011 and has been unable to return to profitability. According to a Reuters report, the company said it was hurt by a challenging economy as well as competition from international brands that have debuted in Canada in recent years.

Tustin, Calif. — Present Value Properties, a real estate brokerage and consultant, has appointed real estate veteran Bradley O. Whitaker executive VP. His responsibilities include expanding investment acquisitions and sales, develop partners and look for opportunities. In addition, he will open the firm’s first Utah office.

The Neiman Marcus Group has added Adam Brotman, Phillipe Bourguignon, and Vivek “Vic” Gundotra to its board of directors.

Brotman is chief digital officer for Starbucks and is responsible for Starbucks’ core digital businesses, including mobile and mobile payments, Web, card, loyalty, e-commerce, wi-fi and the Starbucks Digital Network. Prior to joining Starbucks in 2009, Brotman held key leadership positions at leading digital media companies including Corbis and PlayNetwork.