WP Realty, a Pennsylvania-based real estate investor, is at least two months behind on its $18 million mortgage for the Danvers Crossing Shopping Center and is “unable to bring the loan current,” according to a report by Wells Fargo Bank. Calls to WP Realty, with offices in Bryn Mawr, Pa., were not returned Monday. The […]
Construction of an Ikea, the Swedish retail phenomenon — whose inexpensive build-it-yourself furniture draws more than a million people a year to each of its stores — is on hold again in Somerville. “Like lots of retailers, Ikea is trying to figure out when the next economic upturn will be,” said Somerville Mayor Joseph Curtatone. […]
Blockbuster Inc., the bankrupt movie rental chain, agreed to sell itself to a group of debtholders for $290 million in a stalking horse bid that is subject to higher and better offers. Photographer: Jin Lee/Bloomberg Blockbuster Inc., the bankrupt movie rental chain, agreed to sell itself to a group of debtholders for $290 million in […]
by Elaine Misonzhnik February 18th, 2011 It feels like in the past two days the entire retail real estate industry has been talking about one thing–Borders. The questions ranged from whether Borders will be able to survive long-term (many people don’t think so, judging by the discussion on Retail Wire), to how store closings will […]
A recent ruling by the California Supreme Court has unleashed a rash of lawsuits against big retailers that ask their customers to provide zip codes when making purchases with a credit card. View Full Image Bloomberg NewsSome retailers ask for zip codes when customers use plastic. Above, swiping a card at a Best Buy store. […]
Yogurtland, a customer-created frozen yogurt chain with almost 120 locations in nine states (as well as stores in Japan and Mexico), plans to have 75 additional locations open or in development by the end of 2011. By 2015, the chain will have more than 550 total locations. Besides expansion in existing markets, Yogurtland has targeted several […]
America’s #1 Selling Branded Burger to Launch National Restaurant Chain With Its First Locations in Jacksonville, FL Download image JACKSONVILLE, Fla., Feb. 24, 2011 /PRNewswire/ — BUBBA burger®, the number one selling branded burger in America, is announcing the development of its Original BUBBA burger Grill™ restaurants. The announcement was made by Billy Morris, President […]
The ink has barely dried on Borders Group Inc.’s bankruptcy filing this week and already another major bookstore chain is looking to fill its Massachusetts stores slated for closure. Books-A-Million Inc., a Birmingham, Ala.-based retailer with a substantial online presence and more than 200 brick-and-mortar locations in the United States, is preparing proposals to potentially […]
CEO Howard Schultz said yesterday the world’s largest coffee-shop operator intends to compete directly for sales. Photographer: Ariana Lindquist/Bloomberg And you think Starbucks is expensive? Green Mountain Coffee Roasters Inc. has been growing so fast that acquirers looking to scoop up the largest U.S. seller of single-serve brewers would pay the highest valuation in America. […]
Rendering provided by Cathartes. Globe Staff Cathartes Private Investments, a Boston-based real estate development and investment company, said it has begun construction on the Residences at Portwalk, a mixed-use project in Portsmouth, N.H. Portwalk’s Residence Inn by Marriott and the Portsmouth Harbor Events and Conference Center opened six months ago, and the new phase starting […]
