Papa John’s founder to quit board, drop suit in settlement
As recently as last month, it had appeared John Schnatter wasn’t going to release his grip on the company without a fight.
Real Estate
Articles
Two local Rally’s shut down after health code violations
Health code inspections in recent months have found numerous violations at the fast-food restaurants.
Daredevil Brewing Co. to open taproom at Bottleworks District
Daredevil, named the state’s Brewery of the Year in 2017 and 2018, has lined up space in the Garage Food Hall at the Bottleworks District on Mass Ave, developer Hendricks Commercial Properties announced Tuesday.
Dilapidated Castleton hotel to be revamped as senior ‘resort’ community
The developer behind the $5.4 million plan to convert Castleton Extended Stay into senior living units is seeking a three-year tax break on the project.
Kroger plans to widen Visa ban as premium-card fees hurt margins
Kroger Co., the biggest U.S. supermarket chain, plans to widen a ban on Visa Inc. credit cards. And the grocer hasn’t ruled out expanding the ban to include all of its stores.
Amazon planning to open dozens of grocery stores, WSJ reports
Amazon.com Inc. plans to open dozens of grocery stores in U.S. cities, The Wall Street Journal reported Friday, a move that would expand its grocery footprint beyond its Whole Foods Market chain. Shares of food retailers all fell on the news.
Walmart to make ‘every effort’ to keep disabled greeters
Greg Foran, president and CEO of Walmart’s U.S. stores, said in a memo to store managers Thursday night that “we are taking some specific steps to support” greeters with disabilities.
Gap to close 230 stores, spin off Old Navy into new public company
The Gap brand has struggled as part of a broader slump for brick and mortar retailers, even as the lower-priced Old Navy brand has resonated with discount shoppers.
Walmart’s plan to get rid of greeters has disabled workers worried
Walmart, America's largest private employer, is facing a backlash as customers rally around some of the chain's most visible and beloved employees.
J.C. Penney to close more stores as sales deteriorate
The retailer’s profit tumbled nearly 70 percent and revenue slid 8 percent in the fourth quarter, the most crucial period of the year for retailers who bank on a surge in holiday sales.
$50M HHGregg suit attacks insiders for accepting customer deposits to very end
The suit charges that accepting the deposits at a time HHGregg’s tailspin cast doubt on its ability to provide the merchandise saddled the company “with tens of millions of dollars in unwarranted and unnecessary liabilities and recklessly caused the permanent destruction of the company’s value as a going concern.”
Existing-home sales in central Indiana fall for second straight month
One encouraging sign for future months was pending home sales, which rose 17.1 percent in January.
Victoria’s Secret to close 53 stores after poor Christmas performance
Columbus, Ohio-based owner L Brands Inc. operates 957 Victoria’s Secret shops in the United States, including eight mall stores in the Indianapolis area.
Upgrades by city, Indiana Repertory Theatre boost future of iconic building
The Indiana Theatre building, which opened in 1927 as a movie palace topped with a ballroom, had been in need of TLC for years.
Shiel Sexton taps new president
Kevin Hunt, 50, is assuming the presidency from Mike Dilts, 63, who remains CEO and chairman.
Flaherty & Collins plans $170M Michigan project
The project in suburban Detroit will include 500 apartments, a 200-room hotel, 20,000 square feet of retail and dining space, and a 30,000-square-foot grocery.
Three from Indianapolis named James Beard semifinalists
A restaurateur and two chefs from Indianapolis were among those named Wednesday as semifinalists for the James Beard Awards—often referred to as the Oscars of the restaurant industry.
Developer plans $30M apartment project at former college site downtown
Milhaus’ 175-unit project, dubbed The Grid, will also include a 180-space parking garage and an enclosed outdoor courtyard with kitchen and lounge areas.
Kraft Heinz hit with federal probe, huge quarterly loss as consumers flee brands
The food manufacturer says it will slash the value of its Oscar Mayer and Kraft brands by $15.4 billion, an acknowledgment that changing consumer tastes have destroyed the value of some of the company’s most iconic products.
City sports, tourism board could reap extra $15M annually under amended bill
A change made to legislation designed to boost funding for the Capital Improvement Board means the quasi-governmental agency could see an additional $15 million in tax funds annually—nearly double what was initially proposed.