Bankruptcy judge blesses $5.2B plan to keep Sears afloat
The approval means roughly 425 stores and 45,000 jobs will be preserved, at least for now.
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Senate OKs bill to allow food, beverage tax in three Indy suburbs
The tax would have the biggest impact in Greenwood, where it could generate $2.5 million in 2020 and $2.6 million in 2021.
Apparel retailer with hundreds of Indy employees files for bankruptcy
Debt-burdened FullBeauty Brands has a restructuring plan ready to go that would turn over ownership to its creditors. But a federal trustee wants to tap the brakes.
UPDATE: Scotty’s Brewhouse founder faces new investor lawsuit for alleged fraud
The suit against Scott Wise alleges that two investors lost more than $1 million they had invested, due to Wise’s misleading statements and shares that were never properly registered. Wise said he didn’t mislead any investor in Scotty’s Brewhouse.
Clarks shoe store closing at Circle Centre
The downtown mall has hemorrhaged tenants in recent years, including the loss of its two department store anchors.
Longtime downtown steakhouse Shula’s preparing to close
The steakhouse, part of a chain founded by NFL coaching legend Don Shula, plans to leave the Westin Indianapolis at the end of next month.
National car dealer backs away from massive HHGregg HQ site
Napleton Auto Group says it’s still weighing its options for relocating one of its local Kia dealerships after dropping a contract to buy the former appliance chain headquarters and retail site.
Local partnership acquires chain of 31 Indiana liquor stores
A group composed of a former medical equipment executive, Indiana’s former secretary of commerce and the chairman of the Indiana Republican Party has acquired Save-On Liquors.
Drowning in debt, FullBeauty Brands to file Chapter 11
The online retailer of plus-size women’s apparel with a deep history in Indianapolis and nearly half its workers here is attempting to extricate itself from a debt load of $1.3 billion.
Airport wants to add FAO Schwarz, MAC cosmetics, others to retail lineup
Airport officials have reached lease agreements covering 19 retailers, the first wave of deals negotiated as part of the airport’s concessions refresh program. The airport authority’s board is set to vote on the contracts Friday.
Sears to survive after chairman prevails in bankruptcy auction
With a bid of more than $5 billion, Eddie Lampert has won a bankruptcy auction for Sears with a plan that will keep the retailer in business and seek to save tens of thousands of jobs.
Gymboree expected to declare bankruptcy, close at least 6 Indy-area stores
This would be the second bankruptcy for the children’s clothing retailer in less than two years, but the chances for survival look very slim.
Weak holiday sales at department stores catch many off guard
Shares in Macy’s and Kohl’s plunged Thursday after they reported weaker-than-expected holiday results. Target, however, had a jolly Christmas season.
Needler’s Fresh Market to close Indianapolis store
Fresh Encounter Inc. purchased 15 former Marsh Supermarkets locations in 2017 and renamed all but one of them Needler’s Fresh Market. Now, the Geist location is closing for good.
Goody’s stores to be replaced by Gordmans in six central Indiana cities
Stage Stores Inc., a Houston-based retailer that operates nearly 800 stores nationwide, plans to close six Goody’s stores in central Indiana next month and replace them with Gordmans stores in March.
Kroger, Microsoft team up to create futuristic grocery store
Kroger, America’s biggest supermarket chain, has remodeled two stores to test out the new features, which include “digital shelves” that can show ads and change prices on the fly along with a network of sensors that keep track of products and help speed shoppers through the aisles.
Macy’s store in Indianapolis set for closure
Macy’s plans to close its store at Glendale Town Center, leaving the 60-year-old Indianapolis shopping center without its largest and oldest anchor.
Crispy Bird fried-chicken joint by Patachou closing after departure of founding team
Instead of trying to continue operating the Meridian-Kessler eatery, Patachou leaders say the space is needed to temporarily house the operations of the company’s fast-growing, not-for-profit foundation.
Beauty Brands closing 25 stores, including three in Indianapolis area
The regional chain of salon and spa superstores plans to close all but one of its locations in the Indianapolis area as part of a major corporate restructuring.
Pier 1 sinks as it evaluates strategic alternatives, ousts chief
Pier 1, which has five stores in the Indianapolis area, unveiled an ambitious turnaround plan in April, but the retailer saw its sales slump deepen last quarter as it entered the critical holiday shopping period.