Steak n Shake reportedly retires $153M in debt, averting possible bankruptcy
Steak n Shake was preparing for a potential Chapter 11 filing earlier this month while the company negotiated with holders of the debt, Bloomberg had reported.
Bloomberg News and IBJ Staff
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Huntington Bancshares to acquire TCF Financial in $6B deal
The merger announced Monday will boost Columbus, Ohio-based Huntington’s assets to about $168 billion, nudging it closer to regional competitors Fifth Third Bancorp and KeyCorp.
Jobless claims drop more than expected nationally, but rise in Indiana
Texas, Michigan and Georgia. Illinois, Oregon and Indiana reported the largest increases in filings during the holiday week.
CVS prepares to administer Lilly antibody drug, as feds buy 650,000 more doses for $812.5M
CVS has developed a program to provide the treatments in their homes, but it won’t be available—at least initially—in Indianapolis.
Guitar Center declares bankruptcy, seeks to restructure
Guitar Center, based Westlake Village, California, has about 300 stores across the United States, including two in the Indianapolis area. It also has local warehouse operations.
National unemployment claims fall more than expected
Indiana also experienced a weekly decrease in initial jobless claims, according to Labor Department data released Thursday.
Initial unemployment claims decline nationally, in Indiana
Fewer Americans than expected sought unemployment benefits last week. The latest claims numbers reflect gradual labor-market improvement but remain well above pre-virus levels.
Simon, Brookfield reach deal with lenders to acquire bankrupt J.C. Penney
The tentative rescue deal, which would preserve about 70,000 jobs, includes a $300 million equity investment by landlords Simon Property Group and Brookfield Property Partners, a lawyer for J.C. Penney said at a Wednesday bankruptcy hearing in Texas.
J.C. Penney lenders plan takeover after talks with Simon, other bidders stall
J.C. Penney filed for bankruptcy May 15, part of a wave of already-struggling merchants undone by the pandemic. Simon Property, Brookfield Property Partners and Authentic Brands Group were in talks to buy the retailer.
Coronavirus infections far exceed reported cases, CDC estimates
The agency conducted a survey looking at antibodies to the virus in 10 U.S. regions, including Indiana. It found prevalence was highly variable from one region to the next, but far higher than the reported number of cases across the board.
Roche’s COVID-19 antibody test gets emergency FDA approval
Roche Diagnostics’ North American headquarters in Indianapolis will be the shipping and distribution hub for all tests distributed in the United States, the company said.
Roche begins shipping emergency-approved COVID-19 tests across country
Indianapolis-based Roche Diagnostics said Monday that it has begun shipping an initial order of 400,000 COVID-19 test kits to a network of more than 30 hospital and laboratories.
Simon, other new Forever 21 owners in talks to keep most U.S. stores open
Authentic Brands Group, Simon Property Group Inc. and Brookfield Property Partners LP have finalized their $81 million acquisition of the struggling retailer, they announced Wednesday.
Lilly execs: $8B acquisition feeds into cancer drug strategy
Drug industry analysts on Monday applauded Eli Lilly and Co.’s pending $8 billion cash deal to buy a startup that focuses on oncology, which has become a prime focus for the pharma giant in the last year.
Trump returning to Indiana two times before Election Day
President Donald Trump is expected to headline a rally Friday in a Marion County high school gymnasium. He also plans an appearance in Fort Wayne on Nov. 5.
Nation’s largest mattress retailer closing 700 stores in bankruptcy
Mattress Firm’s initial round of closures will include at least one store in Indianapolis and two others elsewhere in Indiana.
Amazon in running to buy cinema chain with two north-side Indy theaters
The e-commerce giant hopes to make another incursion into the physical world of the consumer experience by acquiring Landmark Theaters.
Tribune Media pulls out of $3.9 billion Sinclair sale
Had the deal gone through, it would have reshaped the Indianapolis television landscape. Chicago-based Tribune owns WTTV-TV Channel 4 and WXIN-TV Channel 59.
Anthem sued by doctors in dispute over emergency-room coverage
It’s the latest legal challenge over a change in policy that Indianapolis-based Anthem says was designed to cut down on patients going to an emergency room in situations that don’t require it.
Pain management practice with Fishers location closes multiple clinics
One of the largest regional pain management groups is closing more than half of its clinics amid worsening financial troubles and a federal criminal investigation that targeted its former chief executive.