Macy’s Inc. has retained investment bank Lazard and debt restructuring lawyers at Kirkland & Ellis LLP to explore options for bolstering its finances and managing its liabilities, according to CNBC. The company, which comprises three retail brands (Macy’s, Bloomingdale’s and … Continue reading →
Home furnishings chain Pier 1 Imports Inc. filed for Chapter 11 bankruptcy protection on February 17. In connection with the Chapter 11 filing, the Texas-based company received a commitment of approximately $256 million in debtor-in-possession financing from Bank of America … Continue reading →
A co-tenancy clause in a retail lease offers the tenant remedies such as rent reduction and/or lease termination if either a certain percentage of the gross leasable area (or otherwise specified area) of the shopping center fails to remain open … Continue reading →
Bitcoin: Launched: 2009; First developed by the pseudonymous Satoshi Nakamoto, then transferred to Bitcoin Foundation. Its code is now open source; Transactions are recorded anonymously on a digital public ledger (“blockchain”); Permissionless, entirely deregulated and decentralized; Bitcoin can be used … Continue reading →
According to a Reuters analysis of federal data, of the 378 metropolitan areas ranked by the change in their share of national employment from 2010 to 2017, 40 percent of the new jobs generated during that time (along with a … Continue reading →
Foreign institutional investors were net buyers of Chinese commercial real estate, totaling $2.7 billion in Q1–2019, according to The Wall Street Journal (citing data from Real Capital Analytics). This is a reversal from most of the period between 2013 to … Continue reading →
Vancouver-based athletic apparel company Lululemon opened its first restaurant today in Chicago’s Lincoln Park neighborhood (944 W. North Avenue). Named “Fuel”, the restaurant is part of a 20,000sf store (the retailer’s largest) which also offers men’s and women’s merchandise and … Continue reading →
On June 24, the White House issued an executive order aimed at improving price transparency in health care. The order directs the Secretary of Health and Human Services to propose regulation to require hospitals to publicly post standard charge information, … Continue reading →
The gap between the S&P 500 gains and the level of economic disappointments (the amount of data that has fallen short of analysts’ expectations) has widened to its highest level on record, according to MarketWatch (citing data from Nordea Markets). … Continue reading →
The total inventory of retail space in Eastern Massachusetts remained relatively flat between 2018 and 2019 with only a modest decrease of 0.2 percent (resulting from demolitions and re-purposing of space) to 195,979,300sf, according to the 2019 KeyPoint Report for … Continue reading →