Balducci’s to close four locations
Bethesda, Md. Gourmet grocer Balducci’s plans to shutter four of its 10 locations. The closings include the company’s two Manhattan locations, one in Connecticut and one in Washington, D.C.
In 1999, the company merged with Sutton Place Gourmet, another upscale, specialty-foods purveyor, which was acquired in 2003 by Bear Stearns Merchant Banking, a private-equity fund that recently changed its name to Irving Place Capital.
Whole Foods to go tax-free on April 15
Atlanta Whole Foods Market will have a tax-free shopping day for all customers on April 15 at its seven metro Atlanta stores, according to the Atlanta Business Chronicle.
The Tax Day offer is also good at the chain’s stores in Alabama; North Carolina; South Carolina; and Tennessee. Sales taxes range from 6% to 9.5%, depending on store location.
Stores also will have deep discounts on select items on tax-free shopping day, Whole Foods said.
“Some shoppers might choose to stock up, while others might decide to ‘trade up’– trying a different cheese or wine or cut of meat that might not typically be on their shopping list,” said Scott Allshouse, South region president for Whole Foods Market. “Whatever the motivation, we want to give our customers a little shopping break on Tax Day and we know every little bit helps.”
Adrenalina ends proxy contest with PacSun
ANAHEIM, Calif. Pacific Sunwear of California announced that Adrenalina has ended its proxy contest by withdrawing its nominations of director candidates for election to Pacific Sunwear’s board of directors. Adrenalina had previously notified the company of its intention to nominate four candidates for election to the Pacific Sunwear board at the company’s 2009 Annual Meeting.
Adrenalina’s withdrawal of its nominations follows a meeting earlier this week between several of Pacific Sunwear’s independent directors and Ilia Lekach, Adrenalina’s chairman and CEO.
Pacific Sunwear’s lead independent director Peter Starrett said, “We appreciated the opportunity to have an open and frank discussion with Lekach, and to hear his ideas and suggestions. We are pleased that Adrenalina has determined not to pursue a proxy contest, so that the company can devote all of its resources and attention to the important task of operating its business.”