Two out-of-state financial services firms have acquired the assets of former Celadon Group Inc. affiliate 19th Capital Group in a deal that will allow the Indianapolis-based company to continue operating with a reduced workforce rather than shutting down as previously planned.
The Indianapolis-based asset financing and fleet management company notified state officials this week that it will permanently close its operations late next month, eliminating all of its employees.
The format is key to the pharmacy chain’s plan to slash expenses. Also this week: Black Acre Brewing Co., Sauce on the Side, Versona, Tropical Smoothie Cafe.
The Justice Department said the financial arrangements were outlined in a whistleblower suit brought by Thomas Fischer, who served as Community Health’s CFO from 2005 until his sudden exit in 2013. In a separate suit, Fischer claimed he was fired in retaliation for questioning possibly illegal practices.
Pier 1 Imports, which is led by the former CEO of defunct retailer HHGregg, plans to shut down hundreds of stores as it struggles to draw consumers and compete online.
There was no shortage of huge news stories in central Indiana this year—with Roger Penske’s purchase of the Indianapolis Motor Speedway, the launching of the Red Line and the closing of trucking giant Celadon.
Ken Clark, who joined the city’s Information Services Agency in 2013, will replace controller Fady Qaddoura, who is stepping down from the position at the end of the year.
The company moved goods for many well-known companies, including Alcoa, General Electric, John Deere, Philip Morris, Procter & Gamble, Target and Walmart.
CEO Paul Svindland said challenges in the trucking industry, along with fallout from what prosecutors allege was a massive accounting fraud engineered by prior management, proved impossible to overcome.
The Indianapolis-based company lost its way after founder Stephen Russell gave up the CEO’s role in 2012, and three of its former executives now are facing fraud charges.
Retail industry observers are speculating that the appointment of Robert Riesbeck is likely to mean a bankruptcy for Pier 1 in the near future, based on his track record.
Christine Birch has tackled some tough issues at Taft. including championing a plan that eliminated the traditional two-class partnership structure in favor of a single class of ownership.
Kristin Sherman joined VMS as CFO in 2016, and a year later added oversight of all the firm’s support functions—everything from legal and IT to compliance and HR.
Carmel-based Protective Insurance Corp. has hired two company outsiders to fill its chief financial officer and chief information officer roles, the company announced Monday.
