7/29: Ascena Retail Group Files for Bankruptcy, Plans to Close ‘Significant’ Number of Stores
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July 29, 2020 • Issue 232 |
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Ascena Retail Group Files for Bankruptcy, Plans to Close 'Significant' Number of Stores
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Mahwah, N.J. — Ascena Retail Group, the parent company of clothing brands Ann Taylor, Justice, Loft, Lane Bryant, Catherines and Lou & Grey, has filed for voluntary Chapter 11 bankruptcy in the United States Bankruptcy Court for the Eastern District of Virginia. Read more.
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Slater's 50/50 Opens First Colorado Restaurant
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Denver — Slater’s 50/50, the nationally recognized burger concept known for inventing the 50/50 burger patty made with 50% ground bacon and 50% ground beef, celebrated the grand opening of its first Denver restaurant on July 24, 2020. The new location is opening in the RiNo Arts District’s The Hub, a mixed-use building featuring office, retail and restaurant tenants, located at 3600 Blake St. Read more.
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Williams Company Southeast Completes Vineland Pointe Retail Center
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Orlando, Fla. — General contractor Williams Company Southeast has completed Phases II and III of the 450,000squarefoot Vineland Pointe retail center in Orlando, Fla. The center’s final phases include a Cheesecake Factory and a new 65,000-square-foot “small-format” Target store that will open in August 2020. This multi-phased project spanned over 2 years of design and construction developed by New York-based O’Connor Capital Partners and its partner, LaSalle Investment Management.
Read more.
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Taco John's Opens Second Corporate Office
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Minneapolis — Taco John’s, a popular quick-service restaurant brand based in Cheyenne, Wyo., has opened a new franchise support center in Minneapolis. This second corporate office is located at 1650 West End Blvd. Ste. #100 in St. Louis Park.
Read more.
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Parent Company of Men's Wearhouse & Jos. A. Bank to Shutter Up to 500 Stores
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Fremont, Calif. — Tailored Brands, the parent company of professional menswear retailers Men’s Wearhouse and Jos. A. Bank, has announced a corporate restructuring that entails closing up to 500 stores. The Fremont, Calif.-based firm says the “unprecedented and industry-wide” disruption caused by the COVID-19 outbreak was the catalyst behind the move.
Read more.
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Marco's Pizza to Add 13 New Locations in Palm Beach County, Florida
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West Palm Beach, Fla. — Marco’s Pizza plans to expand in Palm Beach County, Fla. Amid the pandemic, Marco’s Pizza is outperforming other QSRs, recording historic sales milestones, while supporting communities nationwide. The brand plans to add 13 Palm Beach County locations by 2025 through strategic franchise partnerships. Read more.
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PVH to Close 162 Outlet Stores, Reduce Office Workforce by 12%
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New York City — In a move to streamline its North American operations and adapt to an evolving retail landscape that has been accelerated by the COVID-19 pandemic, PVH Corp. announced on July 14, 2020 that it will close all of its 162 Heritage Brands outlet stores and reduce its office workforce by approximately 450 positions, or 12%. Read more.
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Cinnaholic On Track To Open 20 New Units in 2020
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Atlanta — In the last 3 months, Cinnaholic, a bakery that serves innovative plant-based cinnamon roll creations, has set single day sales records across its franchise system, introduced a series of new technology-based innovations, and inked deals to add more than a handful of new locations in key U.S. markets. Read more.
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Top Story |
What to Look for in a Surplus Property Managing Partner
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— By Steve Peldiak, Watterson —
Empty storefronts and properties can successfully be managed and advanced for sale or lease with the right solutions providing partner. Successful surplus store management revolves around protecting your assets, minimizing costs and hiring a trusted partner with expertise and experience in managing multiple locations with 24/7 nationwide response.
When turning over a portfolio of properties, ensure the chosen partner offers a blueprint of four key factors to surplus store management: Turnkey Management, Security, Exterior Maintenance and Interior Maintenance while also offering guiding data points and an opportunity to remotely govern all the locations from a cloud-based dashboard.
Turnkey Management • Ability to complete all aspects of due diligence to reduce regulatory risks • Offers environmental remediation, construction and maintenance to repurpose the property for sale, for lease or for innovative use • Minimum expenditures to maintain facility integrity, curb appeal and local ordinance compliance • Cost avoidance-based menus offering the most ideal maintenance options • Prepare the location for dark status • Complete inventory pack-up, transport, store and inspect • Assist in transportation including BOL paperwork, set up pickup times, etc. • Secured warehouse for storage of clients’ products received for third-party viewing
Security • 24/7 monitoring and dispatching for all alarms • Affordable cell-based alarm equipment is the most ideal • RTU protection from theft or vandalism • Real time activity data, logs and reports
Exterior Maintenance • Avoid local fines with compliance to ordinances • Handle any/all client CAM requirements • Cameras providing daily snapshots of parking lots condition to avoid dumping and parking • “No Trespassing” and “No Parking” sign installation • As needed parking lot cleanup
Interior Maintenance • Essential only HVAC maintenance to control temperatures and avoid mold growth and extreme cold • Manage all electrical, plumbing and cosmetic needs • Remotely govern and manage locations with IoT smart cloud-based dashboards
Avoid large capital expenditures, protect your portfolio’s assets, keep costs low and align with a holistic service provider that can manage all of your surplus store services, needs and future goals.
— Steve Peldiak is president of Watterson, a national provider of facilities maintenance, emergency response and environmental services supporting over 60,000 commercial properties. |
Vendor News |
Refrigerated Solutions Group Makes Executive Changes
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Hudson, Wis. — Refrigerated Solutions Group (RSG), an industry leader in refrigerated equipment, has made several executive changes. Kevin Fink will be transitioning out of his CEO role effective July 31st, as part of a planned transition following the sale of RSG from Standex to Ten Oaks Group. Read more.
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Upcoming Events |
| The NAFEM Show 2021 February 4-6, 2021 • New Orleans
Connex2021 Multi-Site Facilities Conference
April 19-21, 2021 • National Harbor, MD |
More Industry News |
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From the Magazine |
Digital Signage as Customer Service
By Garry Wicka
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Giving peace of mind in uncertain times, digital signage displays help inform each and every customer and employee of store rules and government guidelines.
As retailers, restaurants and public-facing businesses of all kinds prepare to reopen amid ever-changing health guidance and local restrictions, the need to clearly communicate the latest health and safety information becomes absolutely vital for smooth operations and public support.
For any type of business — from restaurants to boutique stores — one of the easiest and most non-invasive way to provide customers with up-to-date policies, special store hours, general store information and local ordinance updates is through strategically placed digital signage that can be easily updated at a moment’s notice as conditions change.
Establishing Trust with Employees and Customers From employee morale and safety to handling socially distanced customers, beginning each day and each visit with consistent, helpful messaging helps make sure that everyone is on the same page.
With uncertainty lingering over how many customers businesses should allow inside, how many they should expect and how those customers will behave, it’s crucial to have clear, accurate information at every business entrance to avoid confusion over store policies and manage expected behavior of customers. Read the full article.
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Industry Voice
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Up to the Challenge
By Beverly Raphael Altman
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At RCC Associates, we are not strangers to adversity or challenges facing our industry.
[EDITOR’S NOTE: This article was intended to run in May 2020 but was sidelined along with many other articles due to coronavirus pandemic. We are running it for you here now, as a break from COVID-related material.]
There is no shortage of challenges when it comes to being a leading commercial general contractor specializing in restaurant and retail construction. At RCC Associates, we are not strangers to adversity. In 1998, my husband — the company’s founder, Richard Raphael — passed away, leaving me to lead the firm as a lone female president and CEO in a largely male-dominated industry. Here are some of the philosophies we practice remaining relevant and overcome challenges within an ever-evolving landscape.
Surround Yourself With a Great Team When I assumed the helm of RCC, it was very uncommon for a woman to be president and CEO of a construction company. However, the team my late husband had assembled and nurtured embraced having a female leader, including our EVP and my partner still, Rick Rhodes. Back then it was rare, especially in construction, for a company to espouse an open-door policy and family-friendly working environment, but I developed the company’s culture to fit my style — and it worked. As a result, we’ve both maintained and attracted new talent which has allowed us to remain reliable within the industry, build trust, retain repeat business and deliver superior quality and service. Read the full article. |
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Have you read the June issue?
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2020 Retail & Restaurant Facility Business Goldbook
Professional service providers and products catering to retail & restaurant facility professionals.
Next Steps
What retail businesses must do in a post-COVID world.
Is Your Restaurant Ready?
With heightened expectations around hygiene, consider these best practices when you reopen.
What’s Inside Is What Counts
When it comes to choosing HVAC air distribution products, there is more than meets the eye.
How to Reopen Safely
Why UV-C sanitizing solutions will save stores and restaurants as they reopen. |
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