Corporate Governance

New York -- Fitch Ratings on Friday downgraded RadioShack's credit rating. On Thursday, the struggling retailer warned it may need to file for Chapter 11 bankruptcy protection.

Fitch cut RadioShack's issuer default rating from "C'' from "CC," which puts the chain’s credit rating one level above default.

PunchTab, a leading omnichannel engagement and insights platform, has appointed Mike Mansbach as the company’s next CEO.

The platform considers Mansbach to be a results-driven go-to-market executive who successfully led the global sales and client services team for the SaaS Division at Citrix.
 

Miami Gardens, Fla. — Palmetto Park, the owner of Palmetto Gardens Plaza, has signed three new leases for the seven-acre shopping plaza located in Miami Gardens. T-Mobile and Cell Phone Repair are both national companies; Lee Nails has a number of other locations throughout Florida.  

Construction on this portion of the plaza is scheduled to be complete by the third quarter of 2015. Construction on a Wal-Mart Neighborhood Store, which will serve as anchor tenant, is underway and will open in the fourth quarter 2014.

Although Lululemon CEO Laurent Potdevin recognizes that there is still much to be done, he praised the company’s “meaningful” progress on building a scalable foundation for its next phase of global growth.

Net revenue for the quarter increased 13% to $390.7 million from $344.5 million in the second quarter last year.

Cincinnati — Jeffrey R. Anderson Real Estate Inc. and Casto announced that increased leasing activity during the last six months brings the Rookwood shopping center to 99% occupancy with the addition of new Carhartt, J.Crew Factory and Rally House stores.

In addition, negotiations are underway to lease the only remaining 1,500-sq-ft. space at Rookwood, which will then achieve full occupancy.
 

Fort Worth, Texas – RadioShack Corp. on Thursday posted a net loss of $137.2 million in its second quarter, more than double the $52.2 million loss reported in the year-ago period.  It was the troubled retailer’s 10th straight quarterly loss. RadioShack warned in a regulatory filing it may seek bankruptcy protection, with a possible sale or third-party investment as other potential avenues to remedy its ongoing financial woes.

The Vitamin Shoppe’s CEO Tony Truesdale plans to retire June 27, 2015, to spend more time with his family and his external board work.  

The board will start searching for a new CEO, who will be charged with implementing the next stages of the company's long-term growth plans. It will be considering internal and external candidates.

CATOOSA, Okla. — Cherokee Nation Businesses has partnered with commercial real estate developer Woodmont Outlets, an affiliate of The Woodmont Company, to potentially locate a new upscale retail development at Hard Rock Hotel & Casino Tulsa.

CNB has agreed to lease property west of the casino to Woodmont Outlets, which plans to invest $80 million into premium outlet shops to be called “Cherokee Outlets.”