Noble Roman’s takes newest concept to Greenwood
The Indianapolis-based chain says it’s scouting sites for yet another Craft Pizza & Pub that it hopes to open by year’s end.
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Simon Property, Authentic Brands buying Brooks Brothers for $325M
The venture between Authentic Brands Group and Simon Property Group will continue running at least 125 of Brooks Brothers’ 200 stores as part of the deal.
Retailer Stein Mart files for bankruptcy, might close all 281 stores
Stein Mart is a discount retailer that runs 281 stores in 30 states, including four in the Indianapolis area.
Plainfield mall facing foreclosure for 2nd time after owner misses $30M payoff
The owners of the Shops at Perry Crossing had been hoping to sell the shopping center before a May deadline to pay off the property’s loan balance, but the pandemic ruined those plans.
Simon Property misses Wall Street expectations as profit sinks
The Indianapolis-based shopping mall operator said all of its U.S. properties have reopened, with the exception of a handful in California that were forced to close for a second time on July 15 because of government mandates.
Steak n Shake eases bleeding but faces roadblock in comeback plan
The Indianapolis-based burger chain wants to reintroduce counter service in its dining rooms but claims an agent of its lenders is blocking its attempts to sell restaurants to raise money.
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.
Memory Bank: Fire destroys home of E-Z-Bake Flour in 1917
In October 1917, fire destroyed the Acme-Evans two-story, Italianate office building at what was then 702 W. Washington St., an address that is now part of White River State Park.
Indiana adding $15 million to pandemic rental assistance program
To date, more than 24,000 Hoosiers have submitted an application seeking rental assistance through the program, which launched July 13.
The Whit owner lists property for sale, with asking price of up to $120M
The nine-story building features 334 apartment units, a 540-space garage and the 16-Bit Arcade+Bar.
Horizon House plans 36-unit apartment project for homeless on downtown’s east side
The four-story project will also feature office space for Horizon House, which is located adjacent to the site and has provided services for homeless individuals since 1990.
COVID-19 reshapes back-to-school spending
The National Retail Federation, the nation’s largest retail trade group, predicts record back-to-school spending this year, but other retail experts foresee big cutbacks.
Parent of Men’s Wearhouse, Jos. A. Bank goes bankrupt
Tailored Brands, the owner of Men’s Wearhouse, Jos. A. Bank and K&G Fashion Superstore, has 11 total stores in the Indianapolis area.
IBJ Podcast: The owner of Windsor Jewelry talks about surviving the riots and pandemic
Plus, hear from Mayor Joe Hogsett, who spoke to IBJ’s editorial board last month about some of the very problems Bires is concerned about for downtown.
Memory Bank: Business district in Fountain Square
This 1946 view of Virginia Avenue looking northwest through Fountain Square doesn’t appear significantly different than it does today, other than some different names on the buildings and older cars.
Kite Realty Group bets big on hotel, even as other projects wither
A third of planned downtown hotel rooms announced before the pandemic are now on hold.
Rep. Greg Pence criticized for race-related items sold at his mall
The Exit 76 Antique Mall in Edinburgh has more than 4 million items for sale by the merchants who rent booths, but sprinkled throughout the mall’s 72,000 square feet are also dozens of objects that trade in Jim Crow-era caricatures and stereotypes.
Proposed 40-story Signia at Pan Am Plaza to shake up hotel landscape
The $300 million hotel will be the most expensive and elaborate new lodging project built in the city since the $450 million JW Marriott complex was completed in 2011. And it will compete directly with the JW.
Dunkin’ to close 800 U.S. stores as pandemic hurts sales
The 800 stores represent 8% of Dunkin’s U.S. footprint but just 2% of its sales.
Luxury retailer Louis Vuitton to open first Indianapolis store
Louis Vuitton is ranked as the world’s most valuable luxury brand, with a value of $47.2 billion, topping Chanel, Hermes, Gucci, Rolex and others.