Ex-Brightpoint execs plan IPO to raise $100M for new tech firm
Novus Capital Corp. formed last month and is seeking to acquire companies “that are at the forefront of high technology.”
Susan Orr
Articles
Indiana-based public firm Escalade returns pandemic rescue loan
The sporting and recreational equipment manufacturer said it repaid its loan to comply with a rule change in the Paycheck Protection Program.
Local businesses wait, wonder if they’ll secure PPP loan funding
The Paycheck Protection Program began accepting applications again Monday with an additional $310 billion. But local business owners who were shut out during the first round were uncertain whether they’ll fare any better this time.
IndyGo in line for nearly $45 million in federal COVID-19 relief
IndyGo is among transit operators nationwide that will share $25 billion in federal aid as part of the Coronavirus Aid, Relief and Economic Security Act.
Factories’ new reality: Temperature checks, sanitizing, face masks
From production routines and work schedules to health screenings and visitor policies, Hoosier manufacturers say COVID-19 has forced them to rethink how they operate.
Pearl Street Pizzeria, Pure Eatery sue insurer over COVID-19 claim denial
The suit, filed earlier this month, alleges that Wisconsin-based Society Insurance rushed to deny the restaurants’ claims for COVID-19-related business losses without properly investigating the claims.
IndyGo says COVID-19 will delay planned route improvements
COVID-19-related driver shortages, among other factors, mean that route improvements planned for June now won’t happen until 2021.
Allegion sees quarterly profit tumble due to COVID-19-related costs
The security-products maker, whose North American headquarters are in Carmel, exceeded analyst expectations despite a $96.3 million impairment charge because of COVID-19-related uncertainty.
COVID-19 pushes small retailers toward e-commerce
Pedcor Cos. is promoting an e-commerce web site for its Carmel City Center retail tenants, some of whom had sold little or no merchandise online until COVID-19 came along.
Kite Realty Group to launch small-tenant COVID-19 loan program
The loan program, geared toward Kite tenants that operate fewer than five retail locations, will accept applications beginning Friday. Industry experts say many mall tenants weren’t able to pay April rent.
Indiana banks OK $7.5 billion in Paycheck Protection loans
The banks approved 35,990 individual loans for companies and organizations in Indiana before the program ran out of money.
COVID-19 to unleash torrent of lawsuits against insurers
Businesses and not-for-profits in Indiana and across the country have begun suing their insurers in coronavirus-related claims disputes—and attorneys predict a flood of additional cases will follow.
Coronavirus restrictions delay local retail openings
Most business owners say they’ll be ready to open as soon as—or shortly after—coronavirus-related restrictions are lifted.
STAR Bank names new Indianapolis market president
The Fort Wayne-based bank’s new Indianapolis market president, Tim Oliver, will primarily work from the bank’s new Monument Circle location, which opened earlier this year.
Chicago-style pizza chain Lou Malnati’s adding Broad Ripple, Carmel sites
Beloved in the Chicagoland area, the deep-dish chain confirmed to IBJ in March that it planned to enter the central Indiana market with several locations.
Allegion announces $30M in cost-cutting actions at non-U.S. locations
Ireland-based Allegion said it will take actions to streamline its business and cut costs. The company’s North American headquarters is in Carmel.
Coronavirus restrictions scramble Second Helpings’ fundraising plans
The Indianapolis-based hunger relief organization has seen demand for its services soar because of the coronavirus pandemic. The health crisis has forced the group to convert its biggest annual fundraiser into an online event.
Scandinavian Designs furniture chain set to enter market
The California-based company has 38 stores in 10 states. Its planned Indianapolis location, at a former Toys “R” Us store near Castleton Square Mall, will be its first in the state.
Carryout just isn’t cutting it for many local restaurants
Some local restaurants trying to stay afloat without dine-in service report sales have plunged by two-thirds or more, raising questions about how much longer they’ll be able to survive.
Asbury Automotive furloughs 215 employees at local car dealerships
Asbury, which has eight Indianapolis-area dealerships, said it’s furloughing 2,300 employees across its 10-state operating footprint due to a sharp drop-off in sales and service revenue.