Restaurant closings top 110,000 with industry in ‘free fall’
The nationwide tally—representing one in six U.S. eateries—is among the findings of a survey released Monday by the National Restaurant Association.
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Current, former owners of Moe & Johnny’s embroiled in dueling lawsuits
The longtime Meridian-Kessler sports bar and restaurant that announced last month it was closing “until further notice” is at the center of an ongoing legal dispute between the original owner and the new owner, who now wants out of the deal to buy the business.
Carmel may use waterways to land more liquor permits
Carmel is the latest Indiana community seeking to use its waterways as a means to offer businesses cheap and plentiful liquor licenses.
Despite foreclosure, experts see bright future for The Shops at Perry Crossing
The shopping center—the 10th-largest in the Indianapolis area, at 600,200 square feet—was repossessed by its lender in October, after Memphis-based owner Poag Shopping Centers LLC defaulted on a $29.9 million loan balance in June. It’s the second foreclosure for the property, which used to be called Metropolis.
Black Friday, Cyber Monday sales disappoint amid uncertain economic recovery
Fewer Americans shopped during Black Friday weekend, and those who did spent less than they did a year ago. It’s the latest example of how the pandemic has upended consumer habits and created new challenges for retailers.
Arbor Homes buys Franklin-based land developer to expand capacity
The Indianapolis area’s most active home builder is bringing one of its frequent collaborators in-house to help develop more lots.
Sephora to take over cosmetics areas in Kohl’s stores
The deal appears to upend Sephora’s 14-year exclusive relationship with J.C. Penney, which filed for Chapter 11 bankruptcy protection in May.
Owners of downtown towers plan $55M renovation, request $10M tax break
The Gold Building’s exterior overhaul is expected to completely replace the iconic gold panels with “crystal gray” panels from the third floor through the 20th.
Black Friday sees record online as U.S. shoppers stay home
Consumers spent an estimated $9 billion on U.S. retail websites on Black Friday, according to Adobe Analytics, which tracks online shopping. That was a 22% increase over the previous record of $7.4 billion set in 2019.
Indiana Landmarks helping to preserve historic World’s Fair homes
When the National Park Services launched Indiana Dunes National Lakeshore, as it was known then, in the 1960s, it inherited a number of historic structures, including the World’s Fair homes.
Entrepreneur plans restaurant, recreational project in Broad Ripple
A local entrepreneur plans to redevelop the former Broad Ripple Steakhouse restaurant site and an adjacent property into a multi-tenant dining concept and outdoor recreation area. The development would utilize numerous shipping containers in its design.
Meat-smoking firm Smoking Goose plans $625,000 investment to fund national expansion
The nine-year-old Indianapolis company, which already employs more than 50 workers, said it plans to add up to 25 more by the end of 2024.
Retail trade group foresees solid holiday sales despite pandemic
The National Retail Federation, the nation’s largest retail trade group, expects holiday sales to actually exceed growth seen in prior seasons, even amid all the uncertainty surrounding the pandemic.
Buckingham withdraws plans for $70M project along Indiana Avenue
A formal withdrawal of project plans was filed Friday, Nov. 20 with the city of Indianapolis, although no reason was offered.
Colts acquire 9 acres of parking properties south of Lucas Oil Stadium
The Indianapolis Colts spent at least $6.3 million to acquire the lots, most of which are vacant and have been used for game parking by third-party vendors since Lucas Oil Stadium opened in 2008.
Black Friday 2020: Expect shorter lines, simpler layouts, piles of pajamas
The pandemic has reshaped the most important shopping season of the year, forcing retailers to rethink inventory, store layouts and when, even how, they offer their deepest discounts.
Memory Bank: Circle Tower builds up in 1929
The 17-story building—the tallest building that sits directly on the Circle—is part of a National Register of Historic Places designation.
Restaurants: Tighter rules would cause devastation
A surge in coronavirus cases has local restaurateurs fretting that public officials are on the cusp of imposing severe restrictions that they say will force hundreds of local eateries to close.
North-side apartment boom fulfills growing interest in renting
Indianapolis’ north-side apartment market, which includes parts of the city and extends into Boone and Hamilton counties, could see as many as 1,862 new units come online next year.
How four area restaurants are coping with pandemic slowdown
Eateries are digging deep and thinking creatively to try to hang on. IBJ looks at the strategies employed by Beholder, Shapiro’s Delicatessen, Gomez BBQ and Azzip Pizza.