Teen clothing chain with 9 local stores preparing for bankruptcy
Rue21 Inc., a teen clothing chain with 37 stores in Indiana, could file for bankruptcy this month, according to people familiar with the matter.
Bloomberg News and IBJ Staff
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Lilly among firms pulling ads from ‘O’Reilly Factor’
A sexual harassment scandal involving host Bill O’Reilly has prompted major advertisers such as Eli Lilly and Co. and several automakers to drop out. Indianapolis-based Angie’s List is among those sticking with the show.
Payless expected to file for bankruptcy, close hundreds of stores
Payless Inc., which has about 15 shoe stores in the Indianapolis area, is preparing to file for bankruptcy as soon as next week, according to people familiar with the matter.
Trump tells Anthem, other health insurers to expect ‘something special’
The meeting between the president and U.S. health insurers on Monday was a chance for the industry to weigh in on promised changes to the Affordable Care Act that are beginning to come into focus.
HHGregg preparing to file for bankruptcy, sources say
The 61-year-old retailer of appliances and electronics is preparing to file for bankruptcy as it grapples with an ongoing slump in sales, according to people familiar with the matter.
Hilton planning two hotels in Indy under new brand
Called Tapestry, the brand is designed to jump on the bandwagon for individualized and upscale hotels with distinctive local features.
Judge approves $630M Rolls-Royce settlement over bribery probe
A United Kingdom judge has approved settlement between Rolls-Royce Holdings Plc and UK prosecutors, resolving a bribery probe spanning three decades of misconduct at the jet-engine maker.
Indiana to get $12.7M from Moody’s ratings settlement
Moody’s Corp. has agreed to pay almost $864 million to resolve a multiyear U.S. investigation into credit ratings on subprime mortgage securities. Indiana is one of 21 states getting some of the settlement.
Trump tweets that F-35 program—which involves Rolls-Royce—is too costly
President-elect Donald Trump tweeted Sunday that costs for the F-35 fighter-jet program, the Pentagon’s most expensive weapons system, are “out of control.” The Indianapolis operations of Rolls-Royce are significantly involved in the F-35 program.
Lawsuit accuses Chrysler, Cummins of VW-like cheating on Dodge trucks
Chrysler and its diesel technology partner Cummins Inc. are accused of fraud, false advertising and racketeering in the complaint, filed Monday in Detroit federal court on behalf of the owners of almost 500,000 Dodge Ram model trucks.
Finish Line seeking buyer for its JackRabbit stores, sources say
The specialty running-shoe division, which operates 70 stores under various names, could draw interest from private equity firms and other sporting-goods chains.
Sears, Claire’s at high risk of retail failures, Fitch says
Sears Holdings Corp. and Claire’s Stores Inc. are among seven chains at high risk of defaulting within a year as shoppers shift to online merchants and spend more on experiences, according to a Fitch Ratings study.
High-end retailer West Elm plans Mass Ave hotel
The retail chain plans to open a line of West Elm hotels, with five locations beginning to open in late 2018—including one in the former Coca-Cola bottling plant.
Indiana included on latest Kmart store-closure list
Sears Holdings Corp. will close an additional 64 Kmart stores, including three in Indiana, according to a person familiar with the matter.
SEC fines private-equity firm where Bayh works record $53M
Apollo Global Management LLC—the private-equity firm where U.S. Senate candidate Evan Bayh is a senior adviser—will pay $52.7 million to settle allegations that it made misleading disclosures about fees.
Lilly drug for Alzheimer’s gets fast-tracked by FDA
Named AZD3293, the drug belongs to a novel class of drugs that block production of amyloid, a protein that causes plaque to build up in the brain of Alzheimer’s patients.
Feds sue Anthem, Cigna to block $48B merger
The U.S. Justice Department filed an antitrust lawsuit against Indy-based Anthem Inc. and Cigna Corp. on Thursday. In recent years, the department has shown an increasing willingness to go to court to block deals it believes could stifle competition.
Confirmation of Pence’s VP slot elusive amid Trump campaign denials
Donald Trump advisers on Thursday afternoon maintained that the presumed GOP candidate had not made a final decision on a running mate. Media reports earlier in the day pegged Gov. Mike Pence.
After report of Kite deal, CEO of Glimcher resigns
Retail real estate firm WP Glimcher denied last week that it was in talks to merge with Indianapolis-bases Kite Realty Group Trust. Now its CEO is gone, and directors are reevaluating its portfolio.
Shopping malls laden with debt face day of reckoning
Experts estimate that several hundred shopping malls could shut down over the next decade after owners relinquish them to lenders rather than make steep loan payments.