Chipotle fans, start your countdown. The new Chipotle burrito restaurant opens June 11 at Grace and Laurel streets on the VCU campus. This will be the fast-growing chain’s seventh location in the Richmond area. It is the first tenant to open in a strip center built on the site of what was a Pizza Hut…. Read more »
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Local builder files for bankruptcy protection
Prospect Homes, a local homebuilder for more than 25 years, filed for Chapter 11 bankruptcy Tuesday. The company owes more than $50 million to hundreds of creditors. Many businesses listed as creditors were not surprised by the news, as checks had been late in arriving for at least six months. But several local business owners said they kept working with Prospect after Audi met with them, in part because they wanted future work and had known the company for decades.
The Pipeline: Commercial Real Estate Round Up for 5.29.09
Terry’s Tire Town,a Mid-West based tire distributor, leased 90,000 square feet of at 4501 Carolina Avenue in Henrico. Smoothie King, a national smoothie franchise, leased 900 square feet at 10871 W. Broad St. in Henrico. International Special Risks, Inc., a marine insurance brokerage, leased 2,500 square feet at 730 Glen Forest Drive Suite 405 in Henrico. Click on the link to read the rest of the deals.
Southern States lays off 30 at home office
“Even though global demand for agriculture remains high, Southern States isn’t immune to the current economic climate,” said Steve Patterson, vice president of marketing.
Local universities keep builders building
Virginia Commonwealth University and the University of Richmond are spending $155 million on current projects, building dorms, stadiums and research centers. That’s been a blessing for some local construction firms.
Businesses seek tourniquet for health care costs
Insurance agents in Richmond who help businesses select plans say they are hearing from every one of their clients as the recession forces business owners to find savings.
Day one at S&K’s GOB sale
At 1:30 today, around 15 to 20 shoppers cruised through S&K Menswear on Broad Street looking for bargains. Most left the store with several items on this, the first day of the chain’s going out of business sale.
S&K To Liquidate
Just like Circuit City before it, at the end of its corporate life no other company was interested in buying S&K Famous Menswear and trying to turn it around. The company was founded in 1967 by two brothers who found a niche selling quality men’s clothes at a good price, but that niche evaporated as fewer men bought suits and the lower-end marketplace became more cutthroat. Plus, a brief Q&A with former CEO Joseph Oliver.
Boxwood Partners Advises Digital Risk, LLC on growth capital investment from Century Capital Management.
Boxwood Partners, LLC is pleased to announce that Digital Risk, LLC has received a growth capital investment from Century Capital Partners IV, LP. Boxwood Partners acted as the exclusive advisor to Digital Risk, LLC with respect to the transaction. The investment was made in the form of convertible preferred equity. Terms were not disclosed.
No word on Richmond GM closings
GM dealers in Richmond are remaining tight-lipped about which dealerships might be forced to close at the behest of parent company General Motors.