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Harrolds exits Pacific Fair after rent negotiations fall through

Inside Retail

“We have had to pull many levers during the last 12 months to mitigate the impacts of Covid-19 to our business nationally, including reducing operating expenses and attempting to negotiate revised rental agreements,” said Harrolds’ managing director Ross Poulakis.

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H&M, DoorDash Eliminate a Combined 2,750 Jobs as Retail Layoffs Continue

Retail TouchPoints

“Most of our investments are paying off, and while we’ve always been disciplined in how we have managed our business and operational metrics, we were not as rigorous as we should have been in managing our team growth,” said Tony Xu, CEO and Co-founder of DoorDash in a publicly shared message to employees. That’s on me.

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Ancora Holdings Calls for New Kohl’s CEO and Chairperson Following Rejected Acquisition Offers

Retail TouchPoints

Ancora cited Kohl’s repeated rejection of acquisition offers, including from Sycamore Partners and Acacia Research in February 2022 and Franchise Group in July 2022, as part of the need for new management. The activist investor expressed concern that Kohl’s will be unable to manage a true turnaround.

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The Cost of Inaccessibility: Businesses Lose More Than $6.9 Billion Annually

Retail TouchPoints

Moreover, it can bring an increase in operational expenses as well as higher legal risks. Even the biggest names in business, like Beyonce’s Parkwood Entertainment, Target and Netflix have not managed to avoid ADA lawsuits. The Economic Impact of Inaccessibility The economic impact of inaccessibility on businesses is huge!

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OIG Says SBA Management of EIDL Program Had Contracting Flaws

Small Biz Trends

The Small Business Administration (SBA) didn’t follow proper procedures while managing Economic Impact Disaster Loan funds during the pandemic, according to a report from the Office of the Attorney General (OIG). Funds are used to help businesses meet financial obligations and operating expenses after a catastrophic event.

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Big Lots Files for Bankruptcy to Facilitate Sale

Retail TouchPoints

Bankruptcy Court for the District of Delaware in order to facilitate its sale to an affiliate of Nexus Capital Management. Nexus has agreed to acquire all of the retailer’s assets and ongoing business operations; financial details were not disclosed. Closeout retailer Big Lots has filed for Chapter 11 protection in the U.S.

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Target, Macy’s and Dollar Tree Prep for a Tough Year Despite Holiday Success

Retail TouchPoints

Target Invests in Price and Speed to Attract Shoppers Target ended Q4 with inventory 3% lower than in 2021, a sign that the retailer has managed to overcome the excesses it struggled with through the first half of 2022. during Q4, but they were up 0.6% at its flagship banner and up 5.8% during Q4, but they were up 0.6%

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