Financial/Banking

Rue21 could be the next chain headed toward bankruptcy.   The teen apparel retailer, which is backed by private equity firm Apax Partners, is preparing to file for bankruptcy as soon as this month, according to Bloomberg.    

Panera Bread has been acquired by a European firm with a growing U.S. presence.     The fast-casual bakery/café brand has agreed to be acquired by JAB Holding Company, the investment arm of the Reimanns of Germany, for $7.5 billion, including the assumption of about $340 million in debt.    JAB’s U.S. holdings include Krispy Kreme Caribou Coffee, Einstein Noah Restaurant Group Inc., Peet's Coffee & Tea, and Keurig Green Mountain.   

Conn’s has found a new third-party lease-to-own partner.   The retailer said it has formed a partnership with Progressive Leasing, a subsidiary of Aaron’s, to provide lease-to-own payment solutions to customers who do not qualify for Conn’s proprietary credit offering.   Conn’s has entered into an exclusive three-year agreement with Progressive Leasing to offer Conn’s customers Progressive’s lease-to-own program.  

The latest move by Walgreens Boots Alliance in its pursuit of the Rite Aid may be a bet that a Trump-appointed FTC chief will finally push the deal through.  

Gander Mountain has taken a step toward keeping the brand in business.    The outdoor retailer, which filed for bankruptcy protection on March 13, has filed a stalking horse bid. A joint venture comprised of Gordon Brothers and Hilco Merchant Resources has proposed to purchase substantially all of the retailer’s assets. This stalking horse bid will act as a baseline, in effort to ward off low offers on the chain’s assets.  

Retailers may soon have a voice when it comes to disclosing surcharges related to card payments.    The U.S. Supreme Court ruled on Wednesday, March 29, that First Amendment free speech rights should be considered when determining how merchants disclose to their shoppers that credit card swipe fees can drive up the price of merchandise.   

Payment card theft continue to wreak havoc on retailers and shoppers, alike.   In fact, the number of debit cards compromised at United States-based ATMs and merchants rose 70% in 2016, while the number of hacked card readers at U.S. ATMs, restaurants and merchants rose 30% — the highest level in the history of the FICO Card Alert Service, which monitors hundreds of thousands of ATMs and other readers in the U.S.  

The party is over for shoppers that enjoyed tax-free online shopping — on Amazon, anyway.   Starting on April 1, Amazon will collect sales tax from all states that have a tax levy. Only the five states that do not have a state sales tax — Alaska, Delaware, Oregon, Montana and New Hampshire — will remain exempt.