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Bob’s Stores/EMS parent names Petty CEO
Meriden, Conn. – Vestis Retail Group, parent company of Bob’s Stores and Eastern Mountain Sports (EMS), has named James Petty as CEO effective July 8, 2013. Petty most recently served as president of retail stores for Cartier Inc. from 2007 to December 2012 and left the company after it relocated its retail group headquarters from Connecticut to Georgia. He also previously held executive positions at Limited Too and Gap Inc.
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Rue21 ‘go-shop’ period expires without bid
Warrendale, Pa. -- Rue21 Inc. said Wednesday that the “go-shop” period that would have allowed it to be sold to an alternate buyer has expired, edging the specialty apparel and accessories chain closer to a deal with Apax Partners.
In May, Rue21 reached a deal to sell itself to Apax for nearly $1 billion; terms allowed the retailer to shop competing bids until July 2. Although 60 potential buyers were contacted, none submitted a competing bid to acquire the company.