Trading Partners

Wal-Mart Stores, Inc., president and CEO Mike Duke appeared earlier this week at a meeting of the Council on Foreign Relations where he shed light on a range of topics that weren’t fully captured by headlines and soundbites from the event.

Duke was a participant in the organization’s CEO speaker series where for an hour he was politely grilled by Bloomberg president and CEO Dan Doctoroff and took questions on a broad range of topics.

New York -- A Thursday report by the Financial Times said that Wal-Mart Stores Inc. is in discussions with Turkish retailer Migros Ticaret AS to acquire an 80% stake in the company from London-based private equity group BC Partners.

The Times said that Walmart held meetings with Migros managers in recent days in Turkey but it had not placed a bid for the Turkish retailer. Sources have not been identified and Wal-Mart so far has not commented.

New York -- Star Avenue Capital announced that it has acquired a minority ownership position in It’Sugar, Deerfield Beach, Fla., a growing specialty candy and gift chain. Terms of the transaction were not disclosed.
Star Avenue is partnering with It’Sugar CEO and founder Jeff Rubin and existing investor Prentice Consumer Partners to provide the resources and strategic guidance to support the brand’s rapid expansion. The company currently has over 50 retail locations across 13 states and four international markets.

New York -- According to multiple reports on Thursday, Wal-Mart Stores Inc.'s India unit has received a notice from a federal government agency regarding alleged violations of the country’s foreign investment rules.
 
A spokesman for Wal-Mart said: “We will be working to provide the authorities with relevant information,” but didn’t elaborate on the contents of the notice.

Bharti Walmart Pvt. Ltd., a joint venture between Wal-Mart and India's Bharti Enterprises Ltd., operates 20 wholesale stores in the country.

SAN FRANCISCO — Office Depot, FedEx Office and Go Daddy are anxious to tap into the small office and home office businesses market, which has been enjoying rapid growth and change. To that end, the three have formed a partnership with Planet Soho, a provider of user-friendly online management tools and services for the SOHO market.

NEW YORK — In an era of increasingly complex global supply chains and product safety concerns, Deloitte and Decernis have formed a strategic alliance to provide compliance solutions to consumer product, food service, retail and distribution companies.

The alliance combines Deloitte's food safety, quality and supply chain experience and the software platform and content provided by Decernis for tracking and alerting consumer businesses about compliance issues.

DALLAS and LOS ANGELES — Sequential Brands Group, a company that owns, markets and licenses a portfolio of consumer brands, including DVS Action Sports, will acquire Heelys, a maker of sports-inspired products targeted to the youth market.

Particularly in the current economy, it is not uncommon for purchasers, anywhere along the supply-to-distribution chain, to claim financial distress and file for bankruptcy relief.

How can a person or entity hope to collect on debts owed by a "bankrupt" purchaser? What follows is a primer on bankruptcy terms and procedures, as well as steps an unsecured creditor may follow to be in the best position to collect on what is owed without incurring substantial attorneys’ fees.