Fair 73°
Tag:

Canada

Business
7-Eleven To Close Hundreds Of Stores 7-Eleven To Close Hundreds Of Stores
7-Eleven To Close Hundreds Of Stores Convenience store chain 7-Eleven is closing hundreds of stores in North America. Parent company Seven & I Holdings said that the 444 locations were “underperforming.” They make up about 3 percent of 7-Eleven's total of around 13,000 outlets in the US, Canada, and Mexico. Specific sites of the stores have not yet been released. In announcing the closures, the company said that 7-Eleven stores saw a 7.3 percent decline in traffic in August, saying a "pullback in consumer spending has persisted beyond prior expectations" that has affected store traffic and sales growth "as consu…

SHARE

by Joe Lombardi
Business
Red Lobster Revival? Restaurant Chain Exits Bankruptcy With $60M In Funding, New CEO Red Lobster Revival? Restaurant Chain Exits Bankruptcy With $60M In Funding, New CEO
Red Lobster Revival? Restaurant Chain Exits Bankruptcy With $60M In Funding, New CEO Four months after its Chapter 11 filing, restaurant chain Red Lobster says it has exited bankruptcy led by new management. The company announced on Monday, Sept. 16 that it's been acquired by lender group RL Investor Holdings with $60 million in new funding backed by Fortress Investment Group. Damola Adamolekun, former chief executive officer at Asian fusion casual dining chain P.F. Chang’s, is now running Red Lobster. The move comes after the chain, founded in 1968, abruptly closed dozens of locations earlier this year. It still has 544 locations across 44 US states and four provinces in…

SHARE

by Joe Lombardi
Business
Sweeping Change: Instagram Moves Teens Into Private Accounts 'Guided By Parents' Sweeping Change: Instagram Moves Teens Into Private Accounts 'Guided By Parents'
Sweeping Change: Instagram Moves Teens Into Private Accounts 'Guided By Parents' Millions of teenage Instagram users are being forced into private accounts with enhanced security features aimed at limiting their exposure to harmful content. Meta, the social media platform’s parent company, unveiled its “Teen Accounts” feature on Tuesday, Sept. 17, automatically placing anyone under the age of 18 into a default private account. Teens with a private account must accept new followers and people who don’t follow them can’t see their contact or interact with them. It also comes with strict messaging settings, making it so they can only receive messages from people they foll…

SHARE

by Michael Mashburn
News
Blue Supermoon: What You Need To Know About Rare Lunar Event Blue Supermoon: What You Need To Know About Rare Lunar Event
Blue Supermoon: What You Need To Know About Rare Lunar Event There's an out-of-this-world lunar event set to begin this week.  From Monday, Aug. 19, through Wednesday, Aug. 21, the moon will appear bigger and brighter in the night sky than normal. It's called the supermoon. It's the first one of the year, but that's not why this one is special.  A supermoon occurs when the moon is full and closest to Earth in its orbit, according to NASA. That closeness makes the rocky satellite appear 15 percent bigger and 30 percent brighter.  What makes August's supermoon so unique is that it's a blue moon. No, the light of the moon won't change co…

SHARE

by Josh Lanier
Police & Fire
Doctors, 'Ketamine Queen' Linked To Death Of 'Friends' Star, Mass. Native Matthew Perry Doctors, 'Ketamine Queen' Linked To Death Of 'Friends' Star, Mass. Native Matthew Perry
Doctors, 'Ketamine Queen' Linked To Death Of 'Friends' Star, Mass. Native Matthew Perry Police have arrested multiple people in connection with the death of former Hollywood superstar Matthew Perry, including two doctors, authorities said.  The "Friends" star was found face down in a pool at his Los Angeles home on Oct. 28, 2023. The medical examiner blamed his death on the acute effects of ketamine, an anesthetic with psychedelic properties.  Related: Hollywood Mourns Death Of Matthew Perry On Thursday, Aug. 15, investigators announced they had connected five people to Perry's death, the US Attorney for the Central District of California.  Those include his a…

SHARE

by Josh Lanier
News
Costco Raising Membership Fees In US, Canada Costco Raising Membership Fees In US, Canada
Costco Raising Membership Fees In US, Canada The Costco Wholesale Corporation has announced membership hikes in the US and Canada for the first time in seven years, according to a news release by the company issued on Wednesday, July 10.  Costco opened the release sharing a June sales growth in the US of 5.6%, which is higher than the past 44 weeks of just 4.4%, the company experienced a decrease in revenue internationally.  On the heels of sharing that news, the company made the announcement about raising the membership fees in both the US and Canada beginning Sept. 1.  Annual memberships are rising $5 making them $65…

SHARE

by Jillian Pikora
Business
Red Lobster Files For Bankruptcy After Abruptly Closing Dozens Of Restaurants Red Lobster Files For Bankruptcy After Abruptly Closing Dozens Of Restaurants
Red Lobster Files For Bankruptcy After Abruptly Closing Dozens Of Restaurants Red Lobster has filed for bankruptcy just days after closing dozens of its restaurants. In its bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion. The filing stated that the company "intends to use the proceedings to drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern." The company said restaurants not listed as "temporarily closed" on its website will remain "open and operating as usual during the Chapter 11 process."…

SHARE

by Joe Lombardi