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Sears Canada Looks to Sell, Lays off Thousands

Sears Canada

In June, Sears Canada filed for bankruptcy protection and announced plans to close 59 locations and cut 2,900 jobs, according to Global News. Now, the company will begin reaching out to potential buyers while it’s under creditor protection, CBC News reports. The company plans to …

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Shuttered Retail Spaces Can Lead to Increased Crime

crime

A June 2017 Harvard Business Review study finds that shuttered retail spaces can lead to an increase in crime and theft in their immediate vicinity. However, an operational store can provide communities roughly $30,000 annually in social benefits by reducing crime and …

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J.C. Penney Financial Exec Steps Down

J.C. Penney

J.C. Penney announced Monday that its executive vice president and chief financial officer, Edward Record, would vacate his position effective July 11 “to pursue other interests,” according to the company. Record joined the apparel and home goods retailer in March …

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Fred Whyte, Former President of STIHL Inc., Dies at 70

Fred Whyte

Fred Whyte, power tool icon and former president of STIHL Inc., died on July 7 surrounded by family and friends at his Virginia Beach, Virginia, home. The “Man of STIHL” was 70 years old. Originally from Vancouver, British Columbia, Whyte began …

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Lumber Liquidators Founder Buys Luxury Hardware Store

Gracious Home

Two years after a former Walmart executive and her business partner acquired luxury hardware store chain Gracious Home, a discount chain’s founder has bought the business out of bankruptcy. Tom Sullivan, who started flooring discounter Lumber Liquidators, bought New York’s Gracious Home retail operation for …

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The E-Commerce Threat: Is It Exaggerated?

Is e-commerce a threat that will truly result in the demise of traditional brick-and-mortar stores? Not according to a recent article from Forbes, which highlights five main factors that show why traditional retail spaces are still significant to consumers and are vital …

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