Retail

The storefront on the ground floor of The Otis mixed-use development will be the company’s second location in Virginia and eighth overall.

The Fortune 500 said the cuts came in two rounds in recent weeks and that the local impact of the layoffs were minimal. It has approximately 2,300 employees in the region and 30,000 in total.

Two seasoned local hair care professionals have turned a former real estate office into their new salon.

Shares of the Henrico-based retailer, which are now in penny stock status after the company fell into bankruptcy on Sunday, took another hit this week.

“We’re just here to really help the community as far as sustainability and just protecting our investments,” said owner Julian Brown. “The prices of sneakers are only going up so it makes it even more important in today’s day.”

The cash-strapped flooring retailer remains open for business while its Chapter 11 process plays out. That will include closing 94 stores and looking to sell its remaining assets.

CEO and owner Teyoshe Smith launched the business as a side gig out of her home in Richmond in 2022 while working for Capital One.

As developers work to transform the former Bellevue Theater for mixed-use, Meg Althoff and Bethany Frazier are planning to bring their candle shop to one of the building’s commercial spaces.

“What we offer now is so much more than what it used to be,” manager Bochie Thompson said of the nearly 20-year-old store’s need for more space. “It is packed floor to ceiling.”

The business was born out of Ian Jovanovich’s hobby of making his own hot sauce for himself, friends and family, while making sure it’s not too spicy.