Legislative, Regulatory & Legal

Aeropostale is negotiating a potential sale to private equity firm Versa Capital Management LLC, Reuters reported. Versa specializes in distressed investments.      In court papers filed at the end of last week,the retailer said it has been in discussions with Versa regarding a possible stalking horse bid at the chain’s bankruptcy auction later this month. The bid by Versa could include a cash payment for Aéropostale’s inventory, and the assumption of more than 500  

The Retail Industry Leaders Association (RILA) has named Even Armstrong as VP of government affairs, effective Aug. 1.     Armstrong will lead advocacy efforts related to workforce and employment issues before Congress and federal agencies, including the Department of Labor (DOL), the EEOC and NLRB.     

The Retail Industry Leaders Association (RILA) has named Even Armstrong as VP of government affairs, effective Aug. 1.     Armstrong will lead advocacy efforts related to workforce and employment issues before Congress and federal agencies, including the Department of Labor (DOL), the EEOC and NLRB.     

The world’s biggest online retailer took a big step to move drone deliveries forward.   Amazon has entered into a partnership with the British government that will allow the retailer to test and develop new drone delivery systems.  

Hastings Entertainment is going out of business.

The Federal Trade Commission has given its blessing to a deal that creates the fourth largest supermarket company in the United States.   Delhaize Group, owner of Food Lion, and Royal Ahold NV, owner of Stop & Shop, on Sunday completed their $29 billion merger after they received regulatory clearance by the Federal Trade Commission.   

Unsecured creditors of Sports Authority said in court papers that the bankrupt retailer should not waste its dwindling funds preparing a plan to end its Chapter 11.     The unsecured creditors argued the company, which filed Chapter 11 in March, is "administratively insolvent," meaning it cannot even pay the cost of running its bankruptcy case, Reuters reported.  

It appears that Aeropostale Inc., which declared Chapter 11 bankruptcy in May, will be selling its assets rather than reorganizing.       The teen retailer said in court papers that “reorganization on a standalone basis is not feasible.” Instead, it will look for a “stalking horse” to make the lead bid at an auction next month, Bloomberg reported.   

By Dan Berthiaume Walmart Canada has begun following through with a June announcement it would gradually stop accepting Visa payments. On June 11, the retailer issued a release stating it would stop accepting Visa payments across Canada, starting July 18 at stores in Thunder Bay, Ontario. Multiple media reports indicate that as of July 18, Walmart Canada is no longer taking payments via Visa-branded cards at three stores in Thunder Bay.

Walmart Canada has begun following through with a June announcement it would gradually stop accepting Visa payments.   On June 11, the retailer issued a release stating it would stop accepting Visa payments across Canada, starting July 18 at stores in Thunder Bay, Ontario. Multiple media reports indicate that as of July 18, Walmart Canada is no longer taking payments via Visa-branded cards at three stores in Thunder Bay.