Chesapeake Corp., the Richmond-based paper packaging company, announced today its planned acquisition by New York-based Irving Place Capital Management and Los Angeles-based Oaktree Capital Management has been completed for $485 million. The company’s headquarters will move from Richmond to Amersham in the United Kingdom. The company, which began as a pulp mill in West Point,… Read more »
Al Harris
Pirate flag over Qimonda
Last Thursday was Christopher J. Davis’s last day at the Qimonda chip manufacturing plant in Eastern Henrico. He turned in his badge and walked out into the courtyard. Instead of getting in his car and driving home for the last time, Davis had one last thing to do.
Monday Q&A What you need to know about employment law
With the economy in on its head, so are many relationships between employees and employers. Disagreements over severance, claims of discrimination, and theft of intellectual property are among the many employment law disputes that are increasingly common in courts of law today. BizSense sat down with employment attorney Douglas Burtch, who recently joined downtown lawfirm… Read more »
Virginia Beach restaurant coming to Gayton Crossing
An acclaimed Virginia Beach restaurant is opening a second location at the Gayton Crossing shopping center in Western Henrico. Eurasia Cafe & Wine Bar plans to open on May 12 and will offer lunch and dinner service Monday through Saturday. Co-owner David Edelen said the restaurant will serve Asian, American, and European inspired cuisine with… Read more »
Chesterfield continues nightclub crackdown
County Rib & Ale in Chesterfield, the restaurant cited for dancing violations in March, has closed the Midlothian Exchange reports. From the article: As for the business, the doors permanently closed Sunday, April 26. “I have $400,000 invested,” said Donald Quicke. “The county has just bankrupted it. There is a possibility I might lose my… Read more »
Eco-friendly distributor wins biz plan award
Jocelyn Tice, owner of Green Duck Biodegradables, won a $1,500 award yesterday in an annual business plan contest held by New Visions, New Ventures. Green Duck sells compostable and biodegradable packaging to restaurants and other businesses. BizSense profiled the start-up last October. New Visions, New Ventures is a non-profit economic development group based downtown that… Read more »
“Gentlemen, start your economic engines”
Lagging attendance, sponsorship losses, and the auto meltdown in Detroit hover over NASCAR, but the Sprint Cup race this weekend at Richmond International Raceway will still have a huge economic impact on the area. There will be as many as 4,000 people working at the raceway complex over the weekend; the traveling vendors are still… Read more »
The Pipeline: Commercial Real Estate Round Up for 5.1.09
Thalhimer reports Kimages Wharf Associates L.C. purchased 800 acres of land on Route 5 in Charles City County from Creswick Management for $4.5 million as an investment. The farm land has 3,000 feet of frontage on the James River. Central Virginia Health Network leased 14,700 square feet at 4900 Cox Road in Henrico. Health Diagnostic… Read more »
Swine Flu Flashback
The Centers for Disease Control and Prevention is calling it the swine flu, and the nomenclature is a thorn in the side of the global pork industry. In Virginia, Smithfield Foods could take a major hit from pandemic fears over the deadly strain of the influenza virus because of the misconception that the sickness could… Read more »
Mixed-use development planned for Cary and Meadow
A mid-rise building for residential and retail use has been proposed for the northeast corner of Cary and Meadow streets in the Fan. A BP service station and coin laundry currently operate at the site, but West Cary Street Planning Committee chairman Ed Eck has produced a plan to build a three- to five-story residential… Read more »