UPDATE: Finish Line to close 150 stores, change CEO
The Finish Line Inc. said it will close 150 stores over the next four years and replace its CEO early next year after losing $32 million in sales in its latest quarter due to supply-chain problems.
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Indianapolis area avoids Macy’s store-closing list
Macy's is slashing up to 4,800 jobs and closing 40 stores, a harbinger of hard times for retailers after a holiday season that saw a noticeable shift to online shopping and away from physical stores.
Appeals court hears injured worker’s bid for lost earnings
An attorney for a Mexican man who's seeking lost future earnings for a workplace back injury told the Indiana Court of Appeals on Wednesday that his client should be allowed to pursue those wages at U.S. pay rates instead of rates in his home country.
Tom Wood Lexus hitches wagon to expansion trend
The project would add a second floor to the building on East 96th Street, increase the size of the service department and create a mezzanine for a “state-of-the-art” car wash.
New brewery slated for downtown industrial complex
Centerpoint Brewing has started work on its 17,500-square-foot space in the Circle City Industrial Complex on 10th Street, with plans to open a tasting room and make 3,000 barrels annually.
Historic property on city’s southeast side on the market
The owner of a multi-building campus spread over 15 acres on the southeast side is accepting offers on the site that once served as an asylum and more recently housed low-income elderly residents.
IBJ’s most-read stories of 2015
Despite national attention paid to RFRA and Jared Fogle, most of IBJ’s top-read online stories this year were the result of deeply sourced reporting on people, issues and businesses specific to central Indiana.
Landlords face slowing price gains after U.S. records shattered
The Federal Reserve’s first interest-rate increase in nine years has removed a crutch that’s helped sustain 33 consecutive months of price growth of at least 10 percent.
No relief in sight for shortage of affordable housing in area
Marion County is suffering from a severe shortage of affordable housing and the inventory is not expected to increase anytime soon. The most popular financing option to help build affordable housing projects is so limited that only a small fraction of the developments get built.
U.S. home-sale agreements show November slide
Fewer people signed contracts to purchase homes in November, as the real estate market appears to have cooled after sales gains for much of 2015.
Archaeological finds boost transit center costs, delay opening
Construction work on the IndyGo transit center, which is expected to become a hub for most of Indianapolis’ bus lines, has been delayed by seven months. The project’s estimated cost has risen from $20 million to $26.5 million.
Credit union plans to acquire former Meridian Music property
Indiana Members Credit Union is hoping to open a branch in the 18,000-square-foot, two-story brick building on Old Meridian Street in Carmel.
Owner closes all five Indy-area Bagger Dave’s restaurants
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.
Roundup: Broken Beaker opening, second Mimi Blue coming to Carmel, and more
The Broken Beaker micro-distillery is set to open in mid-January on Mass Ave, while Mimi Blue Meatballs is expanding from its lone location, on the Avenue, into Hamilton County.
Local McAlister’s franchisee sells 19 restaurants
McIndy Ventures LLC, which opened its first McAlister’s in 2002 in Indianapolis, has sold its portfolio of eateries across Indiana to Tennessee-based Southern Rock Restaurants LLC.
Chipotle tweaking cooking methods in wake of outbreaks
The fast-but-fresh restaurant chain plans to change the way it handles its meats, vegetables and cheese to combat a hit to its image from incidences of foodborne illness.
U.S. existing home sales tank in November
The introduction of a new disclosure form in October likely prevented many homebuyers from closing on sales in November. Home values are also rising at more than double the pace of wages.
Ransom Place residents mount court challenge to stop project
Three residents have taken the unusual step of asking a Marion County judge to block the $10 million development, arguing it’s too big for the neighborhood.
Hyatt Regency’s lobby, eateries to get $1.3M makeover
The new owners of the Hyatt Regency Indianapolis decided its lower levels needed an overhaul and sharpened culinary focus.
Plainfield shopping center closes early after online threat
The Shops at Perry Crossing in Plainfield was evacuated Friday night after bomb threats were posted on Facebook targeting the mall and its JC Penney store, police said.