Top Simon exec exiting company
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.
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HHGregg looks to be latest casualty in possible record year for retail closings
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.
Browning seeks to develop massive office park in North Meridian corridor
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.
Teen clothing chain with 9 local stores preparing for bankruptcy
Rue21 Inc., a teen clothing chain with 37 stores in Indiana, could file for bankruptcy this month, according to people familiar with the matter.
Two Family Dollar stores in Indianapolis set for closure
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.
Cold beer battle brewing after GOP leaders offer final bills
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.
Coffee giant JAB to buy Panera Bread chain for $7.5 billion
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.
Cold beer issue puts restaurant alcohol permits on hold
Hundreds of Indiana restaurants seeking to renew their alcohol permits are now on hold due to a legislative kerfuffle that erupted when two Ricker's convenience stores started selling cold beer.
Ricker’s would get reprieve—for now—under measure approved by House panel
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.
Bankrupt HHGregg plans to liquidate if no buyer found in next week
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.
Jack in the Box shuts down half of its area locations
Jack in the Box, which operates about 2,200 restaurants in 21 states, entered the local market in 2012 with plans to open at least 10 locations.
Bill to close cold-beer sales loophole advanced by Senate panel
A legal loophole used by an Indiana convenience store chain to sell cold beer would be snapped shut under a proposal that was advanced Wednesday by the Senate Public Policy Committee.
Lawsuits: Hackers stole customer data at 1,000 Arby’s stores
Arby's Restaurant Group failed to prevent hackers from stealing customer information at hundreds of its locations, a couple says in a new federal lawsuit. Eight credit unions and banks from Indiana and other states have filed seven other related federal lawsuits.
UPDATE: Finish Line’s stock price plunges on disappointing results
The locally based retailer of athletic apparel and footwear lost $9.5 million in its fiscal fourth quarter, falling short of earnings expectations and sending company shares tumbling in morning trading.
Woes build for stores as shoppers look elsewhere for inspiration
The number of “distressed” retailers—those with cash problems and poor credit profiles that are facing strong competition—is at the highest rate since 2009, says Moody’s Investor Service.
Payless expected to file for bankruptcy, close hundreds of stores
Payless Inc., which has about 15 shoe stores in the Indianapolis area, is preparing to file for bankruptcy as soon as next week, according to people familiar with the matter.
National retailer’s closure plans to affect four Indianapolis-area stores
A decision by a national religious-based retailer to close all 240 of its stores will put 14 Indiana locations out of business.
Target revamping stores to attract different types of shoppers
In a move to bring shoppers back to its stores, Target Corp. is embarking on an ambitious redesign aimed at helping people who need to dash in for milk to get out quickly while encouraging those who want to wander the aisles to linger.
Amazon struggles to find strategy that works in $800B grocery market
Despite several attempts to break into industry over almost a decade, the company has struggled to entice shoppers en masse to buy eggs, steaks and berries online the same way they’ve flocked to buy books, tablets and toys.
J.C. Penney to close five Indiana department stores
The department store chain announced Feb. 24 that it planned to close about 14 percent of its locations. On Friday, the retailer unveiled a list of 138 stores that were on the chopping block.