BIG STAKES: Value City Department Stores Inc. shareholders last month ratified a $525 million refinancing deal that gives a group including Schottenstein Stores Corp. a 67.5 percent beneficial ownership stake in the discounter. As reported, the...
BIG STAKES: Value City Department Stores Inc. shareholders last month ratified a $525 million refinancing deal that gives a group including Schottenstein Stores Corp. a 67.5 percent beneficial ownership stake in the discounter. As reported, the arrangement was entered into in June, but wasn’t ratified until last month’s annual meeting on Sept. 26. In a Securities and Exchange Commission filing Tuesday, the retailer said it also repaid and ended previous financing agreements with Schottenstein. The group sold a 6 percent participating interest in the financing arrangement, which included the transfer of 88,644 warrants, to a third party earlier this month.
BURLINGTON MANAGEMENT SHIFTS: Douglas J. McGregor, the 61-year-old former mining executive who Burlington Industries Inc. hired out of retirement in 2000, is to step down as president and chief operating officer of the Greensboro, N.C.-based mill at the end of the year, according to a company statement. Peter Liu, who joined the company a year ago and heads its Hong Kong-based Burlington Worldwide operation, will take on responsibilities for all apparel fabrics sales, marketing and product development, and will report to chairman and chief executive officer George Henderson. The company is beginning a search for a candidate to fill the new post of executive vice president of North American operations, overseeing the company’s manufacturing plants.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)