Mergers & Acquisitions

RadioShack posted a net loss of $112 million during the third quarter of fiscal 2013, compared to a net loss of $47 million in the year-ago period. It was the retailer’s seventh straight quarter posting a net loss.

The company also named Paul Rutenis, formerly senior VP, general merchandising manager for the home division of J.C. Penney Company, as its new chief merchant.

Dallas — Cypress Equities has acquired Eden Prairie Center in Eden Prairie, Minn., an upscale suburb of Minneapolis. The transaction was carried out by a fund managed by Cypress’ real estate investment management group. Eden Prairie Center is a 1.1-million-sq.-ft., two-level, enclosed shopping center. The mall features more than 100 shops and restaurants. Annual shopper visits exceed 12 million.

Coppell, Texas – Alco Stores, Inc. will voluntarily delist its common stock from the Nasdaq Stock Market on or about Oct. 31, 2013. The delisting of the company's shares is subject to stockholder approval of the proposed merger with an affiliate of Argonne Capital Group, LLC.

Ridgefield, Conn. -- Schimenti Construction Company announced it appointed Gregg Bartel as VP of operations. Bartel joins the company from Kohl’s Department Store, where as VP of pre-construction & development, he oversaw site due diligence and development of retail and non-retail construction projects across the United States

Pritzker Group Venture Capital, formerly New World Ventures, has invested $45 million in Chicago-based SMS Assist, a leading mobile and cloud-based facilities maintenance technology company.  
 

New York -- RadioShack has secured a financial boost from GE Capital, securing a loan of about $835 million, according to Marketwatch.com.

The loan, backed by inventory and other existing assets, will help the chain refinance the company's outstanding bank debt and free up cash for its ongoing revamp, the report said.

New York – The Jones Group is reportedly approaching deals to sell its business to Sycamore Group and GIII Apparel Group.

Sycamore Group is an Indianapolis-based real estate firm and GIII is a New York-based apparel licensor and manufacturer. Women’s Wear Daily reports sources indicate Jones Group is close to reaching agreements with both companies.

Boca Raton, Fla. - The Federal Trade Commission (FTC) is reportedly set to approve the proposed merger between Office Depot and OfficeMax after concluding it will not significantly affect competition in the office retailing space. According to multiple press reports, the deal will go through without either company having to divest any holdings.