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99 Cents Only cleaning up inventory accounting
For the second time in the past six years, 99 Cents Only said it was unable to file its annual report within the timeframe specified by the Securities and Exchange Commission.
The company’s annual report on form 10-K for its fiscal year ended March 30 was due at the SEC no later than June 28. However, because of a range of inventory valuation issues identified by auditors and a new CFO, the company said it was unable to file the report without unreasonable effort or expense. The company did not indicate when it planned to file the report other than as soon as practicable.
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Bayer to lease and manage Southlake Mall
Birmingham, Ala. -- Bayer Properties will lease and manage Southlake Mall in Morrow, Ga. Macy’s and Sears anchor the 1 million-sq.-ft. enclosed regional mall. Enclosed malls now represent 30% of Bayer’s operating portfolio.
Bayer has also announced the following new leases: