Dollar General Disputes Merger Claim
Goodlettsville, Tenn., Dollar General Corp. said reports that it is seeking to acquire a chain of convenience or grocery stores was inaccurate. “The company has no current plans to make such an acquisition,” according to a statement released today. The report appeared on the Mergermarket.com Web site.
Retail Checks in to Plaza Hotel
New York City, The world famous Plaza Hotel overlooking Central Park in New York City will convert into a hotel-condominium-and-retail center, according to a Reuters report. The new Plaza will feature 150,000 sq. ft. to 160,000 sq. ft. of retail on a five- or six-level space described as an exclusive department store. The 850-room hotel will close in April and reopen next year, with 150 rooms and some 200 luxury condominiums, in addition to the retail space.
Kmart to Close Michigan DC
Troy, Mich., In a move described as unrelated to the Kmart-Sears merger, Kmart Holding Corp. said it will close its Canton distribution center in April. Some 325 workers are expected to be affected by the move to close the 1.1 million-sq.-ft. warehouse leased by Kmart—its only distribution center in Michigan. With fewer stores—Kmart’s count is down to 1,480 from 2,114 three years ago—the company said it could operate with fewer distribution centers.