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Financial/Banking

  • Nordstrom edging closer to going private

    One of the nation's best-performing department stores retailers may soon be out of the public arena.    Nordstrom family members are close to selecting Leonard Green & Partners to help fund a buyout of their namesake department store, reported CNBC, which cited people familiar with the matter.  

  • rue 21's reorganization plan gets court OK

    rue21 has cleared a significant hurdle in its effort to move forward after declaring bankruptcy.   

  • Beleaguered electronics retailer inches closer to reorganization

    RadioShack is entering the latest chapter in its ongoing financial saga — but on a positive note.     On Thursday, RadioShack’s Chapter 11 bankruptcy plan cleared a preliminary court review. This decision enables the retailer to move forward with its strategy to reorganize, and save a small portion of the company, according to Dealerscope.  

  • Gymboree to exit bankruptcy

    Children’s apparel retailer Gymboree Corp is exiting Chapter 11 bankruptcy as a going concern.   The children's apparel retailer won court approval to exit bankruptcy with a reorganization plan that includes a comprehensive recapitalization that will eliminate about $1 billion in debt. It expects to complete its financial restructuring process and emerge from Chapter 11 by the end of the month.  

  • Forecast: Holiday sales to be impacted by ‘lackluster’ wage growth

    One of the first holiday quarter sales forecasts is out of the gate.   Global retail consulting firm Kantar Retail predicts that U.S. retail sales will grow 3.7% in the fourth quarter of this year. The forecast represents an improvement relative to weak growth of only 2.9% in the year ago period. But it is underwhelming compared to average growth prior to the recession of 5.0%, according to Kantar.   

  • Howard Hughes CEO re-ups for 10 years

    David Weinreb, who took The Howard Hughes Corporation public, will now take the company well into the next decade.   The Dallas-based company announced it has entered into a new employment agreement with Weinreb that runs through 2027. As part of the deal, Weinreb completed the acquisition of nearly two million stock warrants in the company at a cost of $50 million.  

  • Abercrombie & Fitch names CFO

    It's a homecoming for Abercrombie & Fitch Co.'s next finance head.   The teen apparel retailer appointed Scott D. Lipesky as senior VP and CFO, effective October 2, 2017. Lipesky most recently served as CFO of American Signature Inc., a privately-held home furnishings company. Prior to that, he spent nine years with Abercrombie in a variety of finance roles, most recently as CFO of Hollister Co.  

  • Toys 'R' Us hires firm to help it explore options

    Toys "R" Us' debt may have finally caught up with it.    With $400 million in debt coming due in 2018, Toys "R" Us is bringing in advisors to help the retailer weigh its options, which could include filing for bankruptcy protection. The nation's largest specialty toy retailer has hired Kirkland & Ellis, a law firm that specializes in corporate restructurings.   
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