UPDATE: Republic Airways takes over troubled Mesa Air Group in all-stock deal
The all-stock deal is expected to close in the late third or early fourth quarter of this year.
IBJ Staff and Bloomberg News
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American Freight Appliances and Furniture closing all stores in Indianapolis
The owner of the retail chain, which operates stores throughout Indianapolis and Indiana, has agreed to close all stores nationwide as part of a Chapter 11 bankruptcy agreement.
Lilly launches online service that offers home delivery of weight-loss, diabetes, migraine drugs
Among the medications listed as available through LillyDirect Pharmacy Services is Zepbound, the company’s popular new weight loss treatment, which is projected to exceed $2 billion in sales in 2024.
Home goods retail chain with Indy-area store to begin liquidation
Christmas Tree Shops Inc. is expected to close all 82 of its stores after failing to save itself through bankruptcy.
Eli Lilly pauses trial enrollment for COVID-19 antibody treatment over safety concern
Indianapolis-based Eli Lilly and Co. said it made the decision on recommendation of the Data and Safety Monitoring Board “out of an abundance of caution.”
Retailer Bed Bath & Beyond eliminating both Indianapolis stores
Bed Bath & Beyond Inc. on Tuesday revealed the first 63 closures of the 200 that are planned nationwide over the next two years. The stores on the initial list will close by end of this year.
Simon could fill empty mall anchor spaces with Amazon fulfillment centers
In addition, Amazon also has been talking to multiple mall landlords about putting its planned grocery-store chain in former J.C. Penney locations, according to a published report.
Simon sues tenant Brooks Brothers, seeks $8.7M in unpaid rent
The suit, filed Wednesday in Marion County Superior Court, says the retailer failed to pay rent for April, May and June while closed during the pandemic.
Local Bar Louie restaurants escape parent’s bankruptcy-related closure list
Gastropub chain Bar Louie Restaurants filed for Chapter 11 bankruptcy on Monday and closed 38 corporate-owned restaurants across the country. But the Addison, Texas-based chain’s two Indianapolis-area locations are franchises and remain open.
UPDATE: Eli Lilly buying immuno-oncology company for $1.6 billion
The Indianapolis-based pharmaceutical giant said it plans to acquire ARMO BioSciences Inc., which is working on treatments that activate the immune system of cancer patients to recognize and eradicate tumors.
National children’s retailer with nine area stores files for bankruptcy
Gymboree, which is struggling under an enormous load of debt, said it would have to close up to a third of its 1,300 stores nationwide.
Payless closing list doesn’t leave Indiana unscathed
The struggling discount chain, which filed for Chapter 11 bankruptcy protection April 4, has released a list of nearly 400 Payless Shoe Source stores that it plans to close immediately nationwide.
RadioShack bankruptcy claims Indianapolis stores
Eleven stores in Indiana, including four in Indianapolis, are on the closure list. Five area stores escaped the list.
Gordmans closure to end 139 jobs at Indy-area distribution center
The century-old discount department store chain, which has a store in Avon, said it planned to permanently close a distribution center southwest of Indianapolis on May 12.
As pricing criticism mounts, Lilly, other drugmakers roll out pay for performance
In Lilly’s partnership with Harvard Pilgrim Health Care, the not-for-profit insurer gets additional rebates if fewer patients using Lilly's diabetes treatment Trulicity meet blood sugar goals than expected.
HHGregg hires outside advisers to help with ongoing woes
Indianapolis-based HHGregg Inc. is turning to investment banks “to pursue a range of potential strategic and financial transactions” as the struggling appliances and electronics retailer battles sinking sales.
Anthem sues to block Cigna from terminating $48B merger
In the lawsuit, Anthem blasted Cigna, accusing it of repeated efforts to sabotage their proposed merger.
Anthem vows to appeal ruling blocking $48B Cigna purchase
While Anthem said it was “significantly disappointed” by the judge’s order and would seek an expedited appeal, Cigna said only that it “intends to carefully review the opinion and evaluate its options in accordance with the merger agreement.”
Federal judge swats mega-merger of insurers Aetna, Humana
The decision casts in doubt the industry’s other big proposed merger—Indianapolis-based Anthem Inc.’s $48 billion bid for Cigna Corp. A ruling on the Justice Department’s challenge of the Anthem deal is pending.
Coal layoffs in Indiana continue as industry struggles
Hundreds of Indiana miners have lost their jobs in recent months as national demand shrinks due to cheaper natural gas and tougher environmental policies.