Mergers & Acquisitions

New York -- After almost 93 years, off-price specialty retailer Loehmann's is going out of business.

On Jan. 7, the U.S. Bankruptcy Court in Manhattan approved an order authorizing a joint venture formed by SB Capital Group, LLC, Tiger Capital Group, LLC, and A & G Realty Partners, to conduct "Going Out of Business" sales in each of Loehmann's 39 locations in 11 states and the District of Columbia.  

Charlotte, N.C. -- Bojangles' Restaurants Inc. has appointed Clifton Rutledge as CEO effective Jan. 24. Rutledge joins Bojangles' from Texas-based hamburger chain Whataburger, succeeding current CEO Randy Kibler, who announced his plans to retire from this role in September 2013 but will remain active as chairman of the company's board of directors. Additionally, Bojangles' has promoted its senior VP of company operations Kenny Avery to COO.

Coppell, Texas – The Container Store Group Inc. saw its net income drop about 2%, to $5.2 million from $5.3 million, during the third quarter of fiscal 2013. This occurred while net sales grew 7.3%, to $188.3 million from $175.4 million, and same-store sales increased 4.7%.

Secaucus, N.J. – The Children’s Place Retail Stores has expanded its existing franchise agreement with Fawaz A. AlHokair & Co. SJSC covering retail stores in Saudi Arabia, to include opening a total of approximately 25 stores in Egypt and the Commonwealth of Independent States (C.I.S. Region) of Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan, beginning in mid-2014.

Former Kohl’s and Carhartt merchandising executive Sue Fuller was named chief merchandising officer at Vera Bradley, an upscale retailer and designer brand looking to restore growth under the leadership of new CEO Robert Wallstrom.

Oak Brook, Ill. -- Ace Hardware Corporation has appointed Tom Knox, 59, as president and CEO of Westlake Ace Hardware, Ace’s largest cooperative comprising 85 stores. Knox will be leaving his role as VP, retail business development, training & supply at Ace’s corporate offices and relocating to the Kansas City area to pursue his new role.

ChannelAdvisor, a leading provider of cloud-based e-commerce solutions, has appointed Diana Semel Allen as VP and general counsel. In her new role, Allen will oversee the company’s worldwide legal functions, including regulatory compliance, commercial affairs, mergers and acquisitions, litigation and intellectual property management.

Rockville, Md. — Federal Realty Investment Trust has acquired controlling interests in two shopping centers in Affluent Monmouth County, N.J., for $161 million. Both the Grove at Shrewsbury and Brook 35 are located on Route 35 and serve the emerging bedroom and second home communities of Shrewsbury, Red Bank, Rumson, Fair Haven, Little Silver, and Middletown. The acquisition was made with a combination of downREIT units, cash and the assumption of $68 million of fixed rate debt secured by the properties.