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Financial/Banking

  • Update on American Apparel

    Dov Charney, the founder and ousted CEO of American Apparel, continues with his efforts to regain control of the company. But with the chain slated to emerge from bankruptyc in mid-January, time is running out, Bloomberg reported.

    Read more by clicking here.

  • Five Below achieves market milestone

    Rapidly growing extreme value retailer Five Below could see its share price improve in the coming months as it is added to an important market index.

    Five Below will join the S&P SmallCap 600 index effective after the close of trading on Friday, Dec. 18. The change is noteworthy for Five Below because such moves offer trigger increased buying of the company’s shares by funds that track the performance of the index which the company is joining. Five Below replaces UIL Holdings which merged with Iberdrola USA.

  • Rite Aid Q3 revenues up 21.8%, calls special meeting to decide WBA merger

    Rite Aid on Thursday reported revenues of $8.2 billion, up 21.8%, for its fiscal third quarter ended Nov. 28, 2015.

  • Report: Private equity interest in retail remains high

    Despite the mixed outlook for holiday sales, the private equity community remains interested in retail, believing that the sector can offer the opportunity to achieve scalable growth.

  • Report: Pep Boys accepts higher offer from Bridgestone

    According to the Associated Press, the company announced on Friday that it will sell itself to Bridgestone for $863 million, a $28 million increase over the previous deal. The two companies announced they would merge in October for a price of $15 per share. Then, Carl Icahn stepped in last week, offering $15.50 per share. [Nashville Business Journal]

  • Belk begins new ownership era

    The 127-year old family owned Belk department store chain is family owned no more, although one of the founder’s descendants remains in place as CEO.

    The private equity firm Sycamore Partners completed its previously announced acquisition of the 296 unit Belk chain on Dec. 10, thus beginning a new chapter for what had been the nation’s oldest privately held department store retailer.

  • Wheeler appoints new member to its board of directors

    Virginia, Beach, Va. -- Wheeler Real Estate Investment Trust announced it has appointed John McAuliffe to the company's board of directors, effective Dec. 2. McAuliffe returns to the company's board of directors after having previously served from November 2012 until April 2013. McAuliffe has over 36 years' experience in the financial services industry. In April 2013, he resigned from the company's board of directors to focus his efforts on investment banking with Newbridge Securities Corporation.

  • CBL completes sale of Mayfaire Community Center

    Chattanooga, Tenn. -- CBL & Associates Properties announced that it has completed the sale of Mayfaire Community Center for $56.3 million to Principal Real Estate Investors.

    Mayfaire Community Center is the 210,000-sq.-ft. center located in Wilmington, North Carolina, which CBL acquired in June of 2015. CBL will be providing leasing and management services for the new owners.

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