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Simon Property Group Looks To Raise $300 Million For Shell Company

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Mall owner Simon Property Group has formed a “blank check” company to go on the hunt for “a company or assets with significant growth potential and prospects.” The move comes as the retail industry is reeling from a double blow: fallout from the pandemic and the great shift of consumer buying to online sales.

Groups 139
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The Restaurant Group To Slash 125 UK Locations

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based The Restaurant Group , which serves up casual dining, reportedly plans to close 125 locations. According to the Financial Times , The Restaurant Group will use a “company voluntary arrangement” — which allows businesses to renegotiate debts with creditors. All told, the group could be left with 160 locations.

Groups 131
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Retail Pulse: Amazon Grows 4-Star Footprint; Forever 21 Files For Bankruptcy

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Online retailers are expanding their brick-and-mortar footprints – and using feedback from eCommerce customers to inform the selections in their new stores. Amazon , in one case, has added a suburban Boston location to its roster of Amazon 4-star stores, marking the fifth location of its type in the United States.

Retail 109
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Today In Retail: Wayfair Exceeds Estimates; Carvana Sales Surge; SA Company Pivots With Pandemic

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These are the top stories in retail for Tuesday (Nov. Bloomberg reported this week that Boston-based home décor eCommerce giant Wayfair turned in strong third quarter financials, noting that the firm’s quarterly results “exceeded analysts’ estimates, suggesting the wave of home improvement inspired by the COVID-19 pandemic is lingering.”.

Company 131
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Private Equity Firm Advent To Buy 75 Pct Stake Of UK Parcel Deliverer Hermes In $1.3B Deal

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Boston-based Advent International , a global private equity firm focused on overseas buyouts, has purchased a stake in the United Kingdom’s parcel delivery group Hermes for 1 billion euros ($1.3 But the firm said it cannot predict how a global economic downturn would impact consumer spending or how badly it could hurt its operations.

Boston 141
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Top News In Payments: Visa To Begin New Certification Program; Circle Co-Founder To Depart Firm

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Also, the co-founder of Boston-based payments firm Circle will step down from his co-CEO role at the end of the month. And Uber has debuted a group ordering option. The co-founder of Circle, a Boston-based payments firm, will step down from his co-CEO role at the end of the month. Uber Eats Introduces Group Ordering.

Training 130
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Bringing “The Next Big Thing” To A New Group Of Consumers

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Operating in concert with Mastercard and Neiman Marcus, the store will offer a range of items segmented into three categories relating to the magazine’s three core areas: @work, @play and @peak. Since Marie Claire is working with Neiman Marcus as its retail partner, they are styling outfits that fit into those three segments.

Groups 158