restructuring and resizing: January 2009 Archives

News briefs: buried ledes

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A pair of major American brands announced store closings last week that were hidden within press releases about layoffs:

Illuminations goes dark

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Candle and gift retailer Yankee Candle is eliminating its Illuminations retail chain as part of a corporate restructuring. Illuminations, a candle and home decorating line, was purchased by Yankee Candle in 2006. The Illuminations brand name may continue in wholesale and catalog options.

Yankee Candle is also closing one additional store under the Yankee Candle name. Plans for new store openings are not affected.

B.R. Guest restructuring

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The popular and successful B.R. Guest restaurant chain announced a series of closings as part of a restructuring effort (not, it should be noted, a bankruptcy). "In order to keep our business strong and competitive, we have no choice but to scale back and streamline our company," said president and founder Stephen Hanson.

In New York, B.R. Guest's hometown, the company closed Fiamma, Level V, and this writer's favorite, Ruby Foo's on the Upper West Side. Fiamma and Level V are being converted into event space and a new restaurant, respectively. Blue Water Grill in Chicago is also closing.

The New York Times' Diner's Journal Blog interviewed Fiamma chef Fabio Trabocchi after the announcement. Trabocchi reported sales declines of 25 to 30 percent since the start of the financial crisis.

Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. By David Wertheimer. Did I miss something? Drop me a line.

About this Archive

This page is a archive of entries in the restructuring and resizing category from January 2009.

restructuring and resizing: November 2008 is the previous archive.

restructuring and resizing: March 2009 is the next archive.

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