News

Food distributor laying off almost 100

Locally-based food distributor Performance Food Group is downsizing its purchasing division. About 98 people will lose their jobs, according to paperwork filed with the Commonwealth of Virginia. Last Friday, the company announced that its independent purchasing organization, Progressive Group Alliance, would outsource its food service and group purchasing operations to Atlanta-based UniPro. The deal was… Read more »

Polluted Henrico parcel gets makeover

A site in Henrico County is slated for commercial development almost 30 years after being identified by the Environmental Protection Agency as a threat to public health. Virginia Beach-based Empire Development purchased 3.85 acres of the Rentokil Superfund site near the intersection of Parham Road and Ackley Avenue for about $400,000 last year from Virginia… Read more »

Second round of layoffs at PrecisionIR

White-collar jobs continue to disappear in Richmond. PrecisionIR, an investor relations technology company based in Chesterfield, let go about 40 workers yesterday, including 16 in Richmond.

Calling all good business loans

Change takes time. That’s one reason the Virginia Small Business Financing Authority cites when asked why its Loan Guaranty Program, which launched in October, has failed to guarantee a single loan.

Q&A: Who would start a bank in this economy?

There’s a new kid on the banking block. Xenith Bank, currently in organization, recently moved into their new office headquarters downtown. The bank will focus on small- and medium-size business. BizSense sat down with Chief Executive and President T. Gaylon Layfield to talk about the plans for the bank and the issues facing the banking… Read more »

Sneak Preview: Movieland

Movieland by Bow-Tie Cinemas, Richmond City’s first movie theater in 35 years, opened its doors to the press to showcase the 17-screen multiplex in advance of its opening Feb. 27.

The Pipeline: Commercial Real Estate Round Up for 2.13.09

Grubb & Ellis Harrison & Bates report Magan & Sons, LLC purchased a 1.48-acre parcel at Short Pump Town Center in Henrico for $1.2 million. The buyer plans to develop a hotel on the site. Porter Realty reports SunTrust bank leased 100,000 square feet of warehouse space at 4201-4221 Carolina Avenue in Henrico County. CB… Read more »