A teen-clothing retailer with nine Indianapolis-area stores said Monday that it plans to close about one-third of its stores nationwide. But eight local locations appear to have dodged the closure list.
The Canadian coffee and doughnut institution is counting on the Indianapolis market to be a big part of its U.S. expansion plans.
Americans pulled back on their spending at auto dealers and restaurants in March, causing retail sales to drop despite signs of a healthy job market.
Struggling Marsh Supermarkets’ best bet at this point would be to close underperforming stores and find buyers for its most profitable ones, industry experts say.
The 62-year-old company is joining the trash heap of failed appliance and electronics retailers, done in by a long list of problems—including overexpansion and a collapse in sales of consumer electronics.
The terminations at the headquarters at 4151 E. 96th St. are expected to begin May 31, the company said in a notice to the Indiana Department of Workforce Development.
San Francisco-based retailer Gymboree Corp. operates more than a dozen stores in Indiana, including four at some of the Indianapolis-area's top shopping centers.
The struggling discount chain, which filed for Chapter 11 bankruptcy protection April 4, has released a list of nearly 400 Payless Shoe Source stores that it plans to close immediately nationwide.
The owners of the popular miniature golf course, arcade and party-hosting facility have sold the property along busy State Road 37 to a buyer who plans to open a used-car business.
David Contis, Simon Property Group’s president of mall operations, is resigning from the Indianapolis-based retail real estate giant to “spend more time with his family,” the firm said in an SEC filing.
An email from the Indianapolis-based company to employees on Friday afternoon said efforts to find a buyer that would keep the business running failed and that liquidation sales will start Saturday.
Year-to-date store closings are already outpacing those of 2008, when the last U.S. recession was raging, according to Credit Suisse Group. About 2,880 closings have been announced so far this year, compared with 1,153 for this period of 2016.
The Indianapolis-based firm has filed plans for a 14-building project in Carmel with nearly 1 million square feet of office space, plus retail, restaurants and a dual-branded hotel.
Rue21 Inc., a teen clothing chain with 37 stores in Indiana, could file for bankruptcy this month, according to people familiar with the matter.
Discount retail chain Dollar Express has confirmed plans to close five Family Dollar stores in Indiana, including two in Indianapolis. But it is possible the stores could emerge again with a new name under new ownership.
Lawmakers worked Wednesday to keep legislation alive that addresses a legal loophole used by Ricker's convenience stores to sell cold beer at two of its 50 locations.
Closely held JAB, which is backed by the billionaire Reimann family of Austria, is further adding to a caffeine empire that already includes Keurig Green Mountain, Krispy Kreme Doughnuts and Peet’s Coffee & Tea.
Bank of America said it will open a branch by the end of the year in the ground floor of the office building, which opened in January and serves as Cummins’ global distribution headquarters.
The convenience store chain would be able to keep the permits that two locations use to sell cold carryout beer—a hot-button issue for Indiana liquor stores. Renewing the permits might be trickier.
The Indianapolis-based retailer, which has filed for Chapter 11 bankruptcy protection, has filed a plan with the court to close its 132 stores and sell off its remaining merchandise if it can’t find a buyer by April 7.
