Circuit City Stores has filed for Chapter 11 Bankruptcy protection. The company will go before the bankruptcy court today in an expedited hearing. BizSense has also obtained the letter sent to employees this morning.
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Check this out: The RBS Guide for small business checking
Most businesses should try to keep about a month’s worth of cash in the account. The balance is insured by the Federal Deposit Insurance Corporation up to $250,000. A normal balance might be between $5,000 and $10,000 for a start-up or small business. A small business savings account can earn more interest and is easily… Read more »
Is the ‘Curse of Diamond Duck’ over before it took hold?
Richmond might some day lament the day Diamond Duck left for Atlanta, ushering in an era without baseball. A new stadium would probably cure any budding curse before it becomes debilitating. (Read: Curse of the Bambino) Developer Highwoods Properties and their team have until March 1 to submit a letter of intent and outline their… Read more »
Developers throw Richmond a meatball. Or is it a knuckle ball?
On Monday the City of Richmond finally announced its plans for Shockoe Bottom and North Boulevard: Tear down the Diamond, and build a new stadium downtown. Throw in an ample mix of retail, office and residential development at both sites. Just $765 million later, fans will have a new baseball team, the city will once… Read more »
Short Pump grocers ready to fight fresh competition
Consider yourself warned, Whole Foods and Trader Joe’s. Two of Short Pump’s original higher end grocers are ready to fight to retain their upscale shoppers. Tom Leonard, who owns a farmer’s market on Brookriver Drive, behind Best Buy, may not have prime Broad Street frontage, but it doesn’t seem to affect his business. Just across… Read more »
State buys Main Street Centre for $49 million
The state of Virginia has purchased Main Street Centre for $48.8 million The 420,575 square foot Main Street Centre, located on the corner of 6th and E. Main Streets downtown, has been sold by Brandywine Realty Trust. The building was built in 1986 and houses the Greater Richmond Chamber of Commerce among other tenants.
Charlotte baseball team might fit in Richmond
Balpark Digest is reporting that the Tripple A Charlotte Nights are the most likely team to move to Richmond so far. According to the website, “Multiple sources in ownership ranks and the N.A. confirm the Charlotte Knights (Class AAA: International League) are first in line to claim the open Richmond market, with Ken Young and… Read more »
Trader Joe’s Opens at Short Pump Station
A light rain didn’t put a damper on turnout for the highly-anticipated opening of the new Trader Joe’s store in the Short Pump Station shopping center. The colorful, Hawaiian-themed store opened Friday morning to a huge crowd. During our visit around 10:00 a.m. Friday, the checkout lines were backed up well into the aisles.
Riverfront condos slow to catch on
The two riverfront condo towers are around 50% occupied, according to a BizSense count. Note: After we published this story, Jack Berry, Executive Director for Venture Richmond, got in touch with us to give us some hard numbers. There are no unsold units at Riverside, and 10 unsold units at Vistas. We would like to… Read more »
$40 million ballpark — Boulevard or elsewhere
A Pennsylvania developer of minor-league ballparks has released renderings of a possible $40 million, 8,500-seat stadium for the Boulevard, but he’s open to building downtown, too. Peter Kirk, a long-time team operator from the independent Atlantic League and a partner with Opening Day Partners, is working with former Richmond mayor Robert Bobb to develop the… Read more »