LONDON (Reuters) – First Quench Retailing, the British drinks group that owns Threshers, The Local and Wine Rack chains, said on Friday it had shut 100 stores in the past six months and was reviewing other sites for possible closure. A company spokeswoman said on Friday that the group, owned by private equity firm Vision […]
NEW YORK/CHICAGO (Reuters) – Bidding for the Chicago Cubs baseball team is being narrowed down, with one of the three remaining proposals a favored bid, a source familiar with the situation said on Thursday. It was unclear which of the three bidders has been selected. However, the source said groups led by Tom Ricketts, chief […]
Selling Source LLC, a Las Vegas-based provider of data and consumer leads to financial service providers, has acquired the marketing unit of CompuCredit Corp. (Nasdaq: CCRT). No financial terms were disclosed for the deal, which will help Selling Source launch a consumer financial products group. Selling Source is a portfolio company of London Bay Capital.
Lincoln Educational Services Corp. (Nasdaq: LINC) has acquired the Baran Institute of Technology for approximately $25.3 million in cash. Lincoln is majority-owned by Stonington Capital.
HONG KONG (Reuters) – Top Chinese electronics retailer GOME, whose founder and ex-chairman is under police investigation, is in talks with potential investors and may issue new shares to raise capital, three people familiar with the matter told Reuters. Potential investors have held preliminary meetings with GOME’s new management, which has been led by Chen […]
(Reuters) – Women’s-apparel retailer Charlotte Russe Holding Inc (CHIC.O) said it is evaluating a number of strategic alternatives, including a possible sale of the company, and has received “potential expressions of interest from third parties.” The company also posted a surprise quarterly loss and forecast a second-quarter loss that was wider than market estimates. In […]
DETROIT, Jan 21 (Reuters) – Chrysler LLC’s deal with Fiat (FIA.MI) depends on the U.S. automaker receiving an additional $3 billion emergency loan from the U.S. government, the company’s product development chief said on Wednesday. “I think that is part of the deal,” Frank Klegon said when asked if the automaker needed the additional $3 […]
Moody's Investors Service has lowered the corporate family and probability of default ratings on Allison Transmission Inc., a Speedway, Ind.-based maker of automatic transmissions for commercial and military vehicles. The Carlyle Group and Onex Partners bought Allison Transmission from General Motors in 2007, for $5.575 billion.
LONDON (Reuters) – Privately-owned publisher Trader Media Group is seeking to buy back 20 million pounds ($27.5 million) of its syndicated loan in a bid to reduce its debt and interest payments, a company spokesman said on Wednesday. If successful, the move could prompt a raft of similar loan buybacks as troubled companies try to […]
TURIN, Italy (Reuters) – Fiat (FIA.MI) will decide within a year whether to take another 20 percent of troubled U.S. car maker Chrysler for $25 million, a source close to the Italian industrial group told Reuters on Wednesday. In a preliminary agreement announced on Tuesday, Fiat is to take 35 percent of Chrysler in exchange […]