Tag:
Business Restructuring
Saratoga Springs, NY
Business
Denny's Completing Planned Closures Of 150 Restaurants By Year's End
About 150 underperforming Denny's restaurants across the US will close by the end of 2025 as the iconic diner-style restaurant chain undergoes a major restructuring. The closures are coming sales have declined and the chain faces increased competition and shifting consumer habits. The restructuring is intended to streamline operations and position Denny’s for future growth. Denny’s entered into an agreement to be acquired by a group consisting of TriArtisan Capital Advisors, Treville Capital Group and Yadav Enterprises in November. The transaction is expected to close in the first quarter o…
Alexandria, VA
Business
LL Flooring To Close Three DMV Stores Amid Chapter 11 Bankruptcy Proceedings
LL Flooring, which filed for Chapter 11 bankruptcy protection, is set to close several stores in Maryland and Virginia amid its financial issues. The flooring company - once known as Lumber Liquidators - plans to shutter the doors of two locations in Maryland, and one in Virginia amid its massive reorganization process. In Maryland, stores in Edgewood (Harford County) and Lutherville (Baltimore County), while in Virginia, the Woodbridge (Prince William County) store is on the chopping block. According to CEO Charles Tyson, who wrote a letter to customers, while they plan to close 94 …
Paramus, NJ
News
Cold Hard Cuts: 7,500 Employees Let Go From North Jersey Company Parting Ways With Ice Cream
Unilever is saying goodbye to ice cream, and thousands of employees. The global consumer goods company is cutting 7,500 roles worldwide as part of its new "productivity program," the company announced Tuesday, March 19. Many say the move is a cold one, as for the first time since 1922, Unilever is leaving the ice cream business. According to a release, ice cream generated approximately $8.6 billion in 2023 for Unilever. And according to the New York Times, that's approximately 13 percent of the total revenue for the year. Unilever has owned some of the most popular ice cream brands in the…
Lower Merion-Narberth, PA
Business
CVS Health Cutting 150+ Jobs From PA, 5K Across Country
CVS Health is eliminating 157 jobs from its Pennsylvania offices, part of the healthcare giant’s larger plan to cut 5,000 jobs nationwide. CVS Health plans to cut the jobs at its Aetna office at Union Meeting Road in Blue Bell. The layoffs will begin on Oct. 21 and continue until Dec. 30, according to documents filed with the Pennsylvania Department of Labor & Industry. The Blue Bell office will remain open. The company is undergoing a massive restructuring and recently announced it would be cutting 5,000 workers. Earlier this month, CVS Health filed documents with…
Ashburn, VA
Business
Bed Bath & Beyond Closing This Virginia Store
A Virginia Bed Bath & Beyond is closing, the company reported. The Leesburg store, located at 532 Fort Evans Road, will soon close its doors, according to a list of 56 Bed Bath & Beyond locations that are closing by the end of 2022. The CEO of the home good retailer leapt to his death early this month from a New York City building. Shares in Bed Bath & Beyond dropped sharply in August, after the company announced a restructuring plan that it said would result in the closure of "150 lower-producing stores."
Mt. Kisco, NY
Business
Peloton To Close Westchester Facility, With 75 Losing Jobs
Peloton has announced plans to shut down some of its facilities and lay off thousands of employees, including some workers in the region. On Tuesday, Feb. 8, the exercise equipment company announced plans to restructure and let go of a total of 2,800 employees globally. CEO John Foley also announced plans to step down. As part of the restructuring, the facility located in the Westchester County city of Mount Vernon will shut down, causing 75 employees to lose their jobs, according to a Worker Adjustment and Retraining Notification Act (WARN) notice posted on Feb. 8. The facility is located…
Hackensack, NJ
Business
North Jersey Mattress Firm Among Hundreds Shuttering After Retailer Files For Bankruptcy
Mattress Firm announced it will be closing more than 200 stores across the U.S. after filing for Chapter 11 bankruptcy protection on Friday. Of its nearly 3,500 U.S. stores, the Route 46 Saddle Brook location and five other New Jersey locations will shutter as early as next week as part of a business restructuring plan. Nearly 700 total stores will close within 45 to 60 days, the company said. CLICK HERE FOR THE FULL LIST OF THE NEARLY 200 CLOSURES.
