REAL ESTATE

Belle Foods to close 13 stores

BY Marianne Wilson

New York — Belle Foods plans to close 13 stores by Aug. 3, including six in Alabama, according to a report by the Birmingham Business Journal. The shutters are part of a reorganization following the chain’s Chapter 11 bankruptcy filing.

Of the 13 store closures, 12 are Food Worlds and one is a Piggly Wiggly.

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REAL ESTATE

Australia’s Seafolly to make U.S. retail debut

BY Marianne Wilson

New York — Australian swimwear brand Seafolly will open its first U.S. freestanding store in October, Women’s Wear Daily reported.

The company will open a 1,800-sq.-ft. location in Fashion Island mall, in Newport Beach, Calif. Seafolly has been selling its goods at select stores in the United States for about five years. It also does an exclusive line for Nordstrom, the report said.

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News

Office Depot prepares for its annual meeting

BY CSA STAFF

BOCA RATON, Fla. — Office Depot has nominated former president and CEO of Collective Brands Michael J. Massey to its board. If elected, he would fill the vacancy created by current director Brenda Gaines, who has decided not to stand for re-election at this year’s annual meeting of stockholders.

The news comes as the office supplies and services retailer filed its preliminary proxy statement with the U.S. Securities and Exchange Commission for its annual meeting, the delay of which has prompted the company’s largest shareholder, Starboard, to file a complaint on June 12. Prior to filing its complaint with the Delaware Court, Starboard had been pressing the retailer to schedule the annual meeting because it had been more than 13 months since the company’s last meeting.

“We are very pleased to announce that Michael Massey has agreed to serve on the Office Depot board and stand for election at the upcoming annual meeting,” said Neil Austrian, chairman and CEO of Office Depot. “Michael is a highly qualified industry veteran who brings more than 23 years of significant retail experience to our board, having served in numerous senior level roles at Collective Brands and the May Department Stores Company. On behalf of the board, I’d like to welcome Michael and we look forward to working with him. I also want to thank Brenda for more than a decade of service to the Office Depot board and wish her well on her future endeavors.”

Massey served as president and CEO of Collective Brands from June 2011 to Oct. 2012. He also served there as SVP from March 2003 to June 2011 and general counsel and secretary from March 2003 to Oct. 2012. Additionally, while at Collective Brands, Massey held various executive roles in corporate development and law from 1996 to 2003. Prior to Collective Brands, Massey was at the May Department Stores Company from 1990 to 1996 and Paster West & Kraner, P.C. from 1989 to 1990.

Massey is not one of the four candidates Starboard is nominating to the board. Starboard decided to forego its consent solicitation and instead announced plans to seek the election of four of its candidates: Cynthia T. Jamison, Robert L. Nardelli, Jeffrey C. Smith and Joseph S. Vassalluzzo.

Shareholders will get to vote for 10 director nominees at the company’s upcoming annual meeting of stockholders, scheduled for Aug. 21.

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