The company said it took a $1.4 million loss in the third quarter from discontinuing operations in its standalone take-and-bake restaurant operations. It plans to focus on a new restaurant concept that will debut in January.
The sale is intended to resolve a lawsuit filed by Wells Fargo Bank that accused Hofmeister of defaulting on a $2.3 million mortgage on the building.
Paoli Inc. will begin shutting down its corporate campus in Orleans in phases beginning in January and permanently close by the end of next October, the company said. The furniture maker got its start in 1926.
The Indianapolis Museum of Contemporary Art plans to move out of its headquarters gallery in the Murphy Arts Center by the end of the year to make room for an expansion of bar and music venue Hi-Fi and other building renovations.
Heather Ramsey was just looking for a place where her young vocal students could perform for their parents and grandparents when she leased a 60-year-old former machine shop in Carmel’s Arts & Design District. Now, it’s one of the region’s hottest places to see seasoned recording artists perform intimate shows.
The contract, announced Friday, is the first labor agreement the musicians have approved since 2006 to contain an overall wage increase.
Less than a week after the retirement of senior reporter Jack Rinehart, WRTV confirmed the departure of a reporter and anchor with more than 26 years of experience in the local market.
Ed Wenck, former radio personality and current managing editor for Nuvo, is leaving after less than three years at the alternative weekly for a quieter career out of the public spotlight.
In a blow to local sports fans, WRTV Channel 6 is shutting down its Hometown Sports & News network and replacing it with a national syndicated network called Grit that features a lineup of action movies and westerns.
The foreclosure lawsuit is the latest legal problem for the 43-year-old retailer, which is still trying to pay off debt from a Chapter 11 bankruptcy it filed in 2011.
Three top executives of Baldwin & Lyons Inc.—who spent a combined 124 years with the Carmel-based trucking insurer—have suddenly "retired" after clashing for months with the board's executive chairman.
Andy Mohr Automotive Group has agreed to pay about $1.3 million to buy 17.6 acres of land from the Indianapolis Airport Authority at Interstate 465 and West Washington Street for a new dealership.
The former employees filed two lawsuits Tuesday alleging Indianapolis-based Angie’s List systematically withheld payment for overtime hours they worked during various periods from 2010 to this year.
Southfield, Michigan-based Diversified Restaurant Holdings Inc. said it shut down eight of its 26 Bagger Dave’s restaurants in all, including seven in Indiana. It said the restaurants were losing money.
The Hoosier Environmental Council has filed a lawsuit on behalf of a pair of Hendricks County families who say they face “intolerable living conditions” created by odors coming from a nearby 8,000-hog farm that opened two years ago.
A New York-based hedge fund has increased its stake in Angie’s List Inc. to an "activist position" and says it wants to have input with management about the strategic direction of the company, including the choice of a new CEO and a possible sale of the business.
One of the city's largest and oldest office parks has been sold. Castleton Park, a 120-acre property containing 31 office buildings, was acquired by New York-based Group RMC, a real estate management company.
Michigan-based Lombardo Homes, which entered the Indianapolis-area market two years ago, is selling nearly 200 local home sites and wrapping up central Indiana operations.
Christopher LaMothe, who led the Indiana Chamber of Commerce as president from 1992 to 2002, has been named CEO of Elevate Ventures, a not-for-profit investment group that runs the Indiana Angel Network Fund.
The 6,000-square-foot facility in North by Northeast Shopping Center will not interfere with Sun King’s hopes to open a much larger brewery and event center about a half-mile away. The bigger facility is on hold while legislators debate a bill over brewery production limits.
