Tuesday Morning to close more than half its stores nationwide
That’s what the off-price retailer, which filed for Chapter 11 on Feb. 14, said in court documents. Tuesday Morning is seeking court approval to conduct store closing sales at 264 locations across 38 states. (full list of store closures can be found here).
BP to acquire TravelCenters of America for $1.3B
BP is acquiring TravelCenters of America Inc. (TA) in a deal valued at approximately $1.3 billion. According to TA, BP will purchase the outstanding shares of TA common stock for $86 per share in cash. The sale price represents an 84 percent premium to the average trading price of the 30 days ended Feb. 15 of $46.68.
TD lays out 5-year, $50B community benefits plan tied to merger
The Canadian bank pledged to open at least 25 new branches and will not close any First Horizon branches in connection with the acquisition.
Chipotle Mexican Grill to launch new spinoff, Farmesa Fresh Eatery, in a ghost kitchen
Farmesa marks Chipotle’s first spinoff attempt during CEO Brian Niccol’s tenure and will have a soft opening in late February.
All Bed Bath & Beyond, Buybuy Baby stores to go dark in Canada
Even with its recent equity offering, the company does not have enough capital available to both restructure its U.S. business and also bring the Canadian business back to profitability,
Starbucks announces major expansion plans across Asia Pacific
The company announced its plans to open 55,000 stores by 2030, spreading out over 100 different countries globally.
Subway is exploring a possible sale
The company has hired JPMorgan as advisors during the sale exploration. Subway, which has over 37,000 restaurants in more than 100 countries, said earlier this month its same-store sales climbed 9.2% last year.
