As banks cut back their ending, small businesses are having more and more trouble staying alive. How that plays out locally depends on who you talk to. Andy Schwabe is filing for personal bankruptcy after losing more than $200,000 of borrowed money on a failed children’s gym called Romp n’ Roll.
News
Contractor sues Qimonda over unpaid invoices
Richmond-based ColonialWebb Contractors filed a lawsuit against Qimonda seeking $369,495 in unpaid invoices. The lawsuit was filed in Henrico County District Court last Monday. Qimonda announced that it was shutting down all operations at its Sandston manufacturing facility the next day. According to the filing, ColonialWebb was contracted by Qimonda in December 2006 to service… Read more »
Pizza turnover in Short Pump
There are two new pizza joints on scene in Short Pump. This past week, eco-friendly chain Pizza Fusion opened a location at Short Pump Station near Trader Joe’s. The company prides itself on using organic ingredients and earth-friendly suppliers. Meanwhile, the Bottom’s Up on Nuckols Road changed hands.
S&K Menswear files Chapter 11 Bankruptcy
Richmond-based men’s clothier S&K Famous Brands, Inc has filed for Chapter 11 Bankruptcy Protection in an effort to get out of leases, trim costs, and prevent further erosion of vendor confidence. The company lists assets of $41,440,100 and debts of $35,499,000 (not including operating leases). There will be a hearing at 2:00 today in Richmond.
Op/Ed Inside Circuit City’s implosion
By Elizabeth Barron Not all of us come with a built-in Intel processor, but the current economy has forced me to step up my cognition. On Friday, Jan. 16, I waited anxiously with my Circuit City colleagues for news about the company’s future. We paced back and forth. We chewed on leftover holiday candy. We… Read more »
Pay-Per-View goes online
A serial entrepreneur might have just the ticket to help sports arenas and other venues make money from fans who would rather stay home. Jermon Green is rolling out Be There on Demand, a web-based company that allows a venue to stream live or taped content on the Internet. The company provides the technical know-how… Read more »
Sandston shops mourn Qimonda
Sandston, the small Henrico village near the airport, isn’t exactly a company town. But the thousands of employees at Qimonda helped support a handful of locally-owned shops and eateries. One of the first customers at Lizzy Peas Express was a Qimonda worker, according to manager Ollie Taylor (pictured above). “She went back and told other… Read more »
And the incentive money goes to …
When it comes to selecting filming locations, the movie industry takes a cue from Jerry Maguire: “Show me the money.” Unfortunately for Virginia, there isn’t much to show. But that could change if plans to provide more incentives to studios take hold in the General Assembly.
Qimonda to close Richmond plant, lay off 1,500
Beleaguered computer chip manufacturer Qimonda announced this morning that it will close its Richmond operation, letting go around 1,550 of its 1,600 remaining employees.
Shipper departs Richmond
The Port of Richmond will lose its main carrier at the end of March. Belgium-based Independent Container Lines said last week that it would stop using Richmond to load and unload mid-Atlantic cargo and instead set up in Wilmington, N.C. ICL accounts for about 75 percent of the traffic at the port, which employs about… Read more »