Fashion retailer J. Crew files for bankruptcy protection
Even before COVID-19 spread, the company was struggling because shoppers were defecting to online merchants and consumer tastes were changing.
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Retailers outside Marion County have green light to reopen
The reopening of shops—at no more than 50% of capacity—is part of Gov. Eric Holcomb’s plan to gradually relax social distancing rules over the next nine weeks.
IBJ Podcast: The rent is due, and tenants are struggling as unemployment soars
Advocates for both low-income residents and landlords are calling for an emergency rental assistance program that would help tenants cover payments and keep revenue flowing for apartment owners.
North-side steakhouse closes permanently, citing ‘impending expiration’ of lease
The owner of the upscale eatery in the Keystone at the Crossing area made no mention of the coronavirus crisis in its announcement Friday, but in April it notified state officials that it had drastically cut the hours of 46 employees due to restrictions on dining.
Companies must create customer, employee safety plans as part of reopening
The state is launching a marketplace for small businesses to help them acquire the face masks, sanitizer and other supplies they might need to reopen.
Steak n Shake outlook goes from bad to much worse
Rating agencies, which already ranked Steak n Shake on the lowest rungs of their creditworthiness ladders, further sounded the alarm bells in recent weeks after Steak n Shake paid off some of its debt at a discount—something a lender never would agree to if it thought it was going to be paid in full.
Moratorium to protect tenants from eviction—for now
Advocates agree that the federal and state moratoriums are helpful, but say renters will need more help long term. Even one missed rent payment can put low-income residents so far behind they can’t recover.
Simon says it won’t defy state-at-home orders in reopening malls, calls speculation it might ‘very offensive’
A company official said it’s “preposterous” to think the company would reopen its malls, especially those in its home state, while stay-at-home orders are still in place.
Broad Ripple’s Brugge restaurant closes permanently
Co-owner Ted Miller said on Facebook that the restaurant at 1011 E. Westfield Blvd. would close as of Friday—“this location at least. We plan to open a new Brugge somewhere, sometime.”
Self-storage firm installing solar panels at some local sites
Utah-based Extra Space Storage, the nation’s second-largest self-storage operator, plans to add the solar panels to five Indianapolis sites this year, and additional sites after that.
Simon poised to reopen Indiana malls on Saturday
The 49 Simon Property Group shopping centers that CNBC says are slated to reopen by Monday represent about one-quarter of the company’s U.S. properties.
Developer planning 37 single-family homes on near-north side
Indianapolis-based BWI LLC plans to spend $10 million to create the one- and two-story homes, which low- to moderate-income residents could rent to own.
Patachou cooking up burger-and-fries concept while ramping up carryout for existing eateries
Apocalypse Burger—a name that came to Patachou founder Martha Hoover during a recent Sunday night Zoom call with family—would be based in the former location of the chain’s Crispy Bird eatery.
IBJ Podcast: What will restaurants, offices look like after economy reopens?
There’s precious little consensus about the necessary precautions, although most decision-makers agree that we won’t get back to “normal” until there’s a vaccine.
Restaurants will be anything but cozy when diners return
Restaurateurs say protective measures and uncertainty about the lingering pandemic might chill the influx in revenue the industry is hoping for once restaurants are allowed to resume dine-in service.
Office-seekers hit pause after COVID-19 saps economy, spurs rethinking about space
Many employees have traded in-person meetings and conversations for emails and videoconferencing—something many experts say likely will continue long after social distancing requirements are relaxed.
Macy’s aims to use real estate to free up cash
The department store chain would issue new bonds backed by certain property and other assets to bolster its liquidity.
North-siders thwart plans for 86th Street project with court victory over city
A judge has ruled in favor of residents of the Driftwood Hills neighborhood, who claimed the City-County Council overreached in approving zoning for the office, retail and restaurant project near Keystone at the Crossing.
Chipotle agrees to record $25 million fine over tainted food
The company admitted that poor safety practices, such as not keeping food at proper temperatures to prevent pathogen growth, sickened more than 1,100 customers nationally from 2015 to 2018.
Indiana restaurants anticipate nearly $1B in sales declines for April
About 91% of Indiana restaurant operators said they have had to either furlough or lay off workers since the COVID-19 outbreak began, with at least 15% anticipating they’ll have to take additional action in the next 30 days.