Keith Zimmerman had been with the struggling Indianapolis-based chain since December 2014. A senior executive said HHGregg has begun the search for a new chief merchandising officer who will "move a little faster" and bring greater creativity to the job.
Local officials are taking steps to preserve the vacant land surrounding the 35-acre Ikea site near Interstate 69 and 116th Street for office development.
The sale is intended to resolve a lawsuit filed by Wells Fargo Bank that accused Hofmeister of defaulting on a $2.3 million mortgage on the building.
The Indianapolis-based real estate company reported higher occupancy and rental rates at its shopping malls in the third quarter.
The ex-wife of former Subway pitchman Jared Fogle has filed suit against the fast-food sandwich chain, alleging executives knew about Fogle’s sexual attraction to young children as early as 2004 and stayed quiet about his pedophile predilections to preserve his role as a “cash cow” for the company.
Shares in Taubman Centers Inc. surged Wednesday, one day after Jonathan Litt, an activist investor known for targeting real estate companies, pushed for the mall owner to cut costs or consider a sale of the company.
In a Facebook post, the owner said he will now be focusing on a new business, Square Cat Vinyl, where “we won’t be serving doughnuts, but we will be serving vinyl records, coffee, and beer.”
After the store on South Meridian Street shuts its doors next month, just one O’Malia’s grocery will remain.
Historic preservation not-for-profit Indiana Landmarks is leading a fundraising campaign to restore the 80-year-old “Ayres clock” mounted on the corner of Circle Centre mall at Washington and Meridian streets.
"It's time to stop the madness," said CEO Robert Riesbeck, who noted that the appliance chain wasn't seeing a huge spike in business on the holiday anyway.
The deal with an Arizona-based private-equity firm could take the small Indianapolis-based chain to 200 restaurants within the next four years, including locations in Japan.
Wal-Mart closed on its more than $3 billion buyout of the online retailer Jet.com last month, showing how heavily it’s willing to invest as it tries to boost online sales that totaled $13.7 billion last year.
The 31-year-old national chain, which began opening locations in the Indianapolis area in the early 1990s, filed for Chapter 11 protection on Tuesday and has closed all of its area restaurants.
Paradise Bakery & Cafe, which once operated a half-dozen restaurants in the Indianapolis area, will quit selling cookies in Indiana on Tuesday.
The offer of $65.50 a share in cash represents a 19 percent premium to Cabela’s most recent closing price, the companies said Monday in a written statement.
City Cafe, which began operating on North Pennsylvania Street about 15 years ago, has closed due to an owner’s ongoing health problem.
Sears Holdings Corp. and Claire’s Stores Inc. are among seven chains at high risk of defaulting within a year as shoppers shift to online merchants and spend more on experiences, according to a Fitch Ratings study.
Swedish retail giant Ikea has hired a slew of contractors to build its Fishers store and is on schedule for a fall 2017 opening, it announced Wednesday.
The restaurant in Blue Ash, northeast of Cincinnati, is expected to open next spring.
The “fast fine” menu features soups, salads, sandwiches and dinner items, including Coconut Curry Salmon, Calamari and Chicken Wild Mushroom.
