Corporate Governance

The $500 million sale of online diamond and jewelry retailer Blue Nile has been completed.   The company was acquired by an investor group comprised of Bain Capital Private Equity, Bow Street and Adama Partners for $40.75 per share in cash. The transaction, first announced on Nov. 7, 2016, was approved by shareholders on Feb.2, 2017.  

Specialty retailer Bow & Drape is putting a new spin on how it sells its cheeky merchandise.   The brand, which lets shoppers customize pun-inspired apparel, is rolling out sample sales on Instagram, Glossy said.   

DWM Facilities Maintenance has opened a new office in Orlando, Florida. The new office will help facilitate the company’s recent growth.   

A new company is interested in The Limited.   Sunrise Brands LLC has bid for the bankrupt apparel retailer’s e-commerce business and intellectual property, a move that challenges a $26.3 million offer from private equity firm Sycamore Partners, Reuters said.   

It’s closing time for MC Sports.   The chain, which filed for Chapter 11 bankruptcy protection on Feb. 14, is closing all 66 of its stores across the Midwest. A joint venture between Tiger Capital Group and Great American Group is conducting the going-out-of-business sales, which are now underway.  

Declining mall traffic is taking a toll on Perfumania.   Perfumania Holdings Inc. has hired advisers to explore strategic alternatives, including a debt restructuring, Reuters reported. It also plans to negotiate with landlords to exit some of its 313 Perfumania stores.   The company recorded debt of approximately $164 million on Oct. 29 and $2.1 million in cash and cash equivalents, the report said.  

Target Corp. is the central player in a drama that even Hollywood wouldn’t dream    A Florida man has been charged with plotting to bomb Target stores along the East Coast — an attempt to cheapen the company’s stock.  

An Indianapolis-based appliance and electronics chain is bringing in outside help as it struggles with sinking sales.    Hhgregg announced that it has engaged subsidiaries of Stifel Financial Corp. for advice on potential strategic and financial transactions as the retailer works to improve liquidity and return to profitability.