Corporate Governance

New York – At least four law firms have launched investigations of Lumber Liquidators Holdings, Inc. following a raid by federal agencies on Lumber Liquidators’ Virginia offices in connection with the importation of certain wood-flooring products. The law firms of Pomerantz Grossman Hufford Dahlstrom & Gross LLP, Bronstein, Gewirtz & Grossman, LLC, The Shuman Law Firm, and Wohl & Fruchter LLP are all investigating whether Lumber Liquidators has committed federal securities violations.

New York -- Steven Newman, CEO of Loehmann’s, will appear on CBS's popular television show, "Undercover Boss," on Friday, Oct. 4 (8 p.m.-9 p.m., ET/PT).

The executive of the original off-price retail chain, with 39 stores in 11 states, went undercover in a few stores around the country in a variety of roles, including order processing at the Loehmann's distribution center, visual merchandising, personal shopper, and sales associate.
 

New York -- American Realty Capital – Retail Centers of America, Inc. ("ARC Retail") closed its acquisition of the Tiffany Springs MarketCenter, located in Kansas City, Mo., on Sept. 26, for a contract price of $53.5 million, exclusive of closing costs. The purchase of the Tiffany Springs MarketCenter represents ARC Retail's third acquisition of a retail power center with multiple credit tenants.

SMS Assist, a leading technology-driven facilities maintenance and management company, has appointed Geoffrey Wigner as its EVP of facilities.

Wigner previously served as senior director of store services for Dollar General, where he managed more than $500 million in capital and expense budgets while directing major projects affecting more than 10,000 stores. Wigner helped the nationwide retailer open 625 new stores and renovate 525 others in fiscal year 2011. 

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Plano, Texas – Financial woes continue to plague embattled J.C. Penney Company as hedge fund Perry Capital cut its stake in the retailer by nearly half, selling nine million shares of Penney stock last week.

Serta Simmons Holdings has announced that Bob Sherman, CEO of National Bedding Company (doing business as Serta International), has decided to leave the company to pursue other interests, effective immediately.

The company stated that during his 25-year tenure, Sherman drove a combination of groundbreaking product innovation, strong customer relationships and operational excellence that led Serta to become the top mattress brand in the United States. 

New York - Fairway Group Holdings Corp., the parent company of grocery chain Fairway Market, will open a 53,000-sq.-ft. store in the DSW Plaza at 4000 Middle Country Road in Lake Grove Long Island, N.Y., in spring 2014.
 
The new store will be the first Fairway Market location in Suffolk County on Long Island and the 15th food store in the tri-state New York, New Jersey and Connecticut region.