Harry & David files for bankruptcy
Medford, Ore. — Harry & David Holdings filed for Chapter 11 bankruptcy protection on Monday, according to a filing.
The gift basket retailer will continue to operate the business as debtors under the jurisdiction of the bankruptcy court. The company has nearly $200 million in outstanding debt.
Harry & David sells its products through catalogs, its website and in stores, which are primarily in factory outlet malls across the nation.
Wal-Mart to reopen 12 quake-hit stores in Japan
Bentonville, Ark. — Wal-Mart Stores announced Sunday that it will re-open 12 of its Seiyu stores in Japan, which were affected by the earthquake. A company spokesman added that the retailer is hoping to open the remaining 12 impacted stores as soon as possible.
Wal-Mart has 371 stores and 43 deli outlets in Japan, of which 24 were affected by the March 11 earthquake and tsunami.
Of Wal-Mart’s affected stores, two were severely hit and were completely covered by mud, according to the company.
T.G.I. Friday’s parent to double chain over five years
Minneapolis — Carlson Restaurants, parent of T.G.I. Friday’s, announced at a conference in Dallas last week that it plans to double the number of units globally under a program it is calling Ambition 2015.
"With the strength of our Friday’s brand, our management team and our franchise partners, we are uniquely positioned to dramatically increase the footprint of our business," said Nick Shepherd, president and CEO of Carlson Restaurants.
Shepherd unveiled the company’s strategic plan, Ambition 2015, to a gathering of franchisees, employees and vendor partners that outlined growth over the next five years, doubling the footprint of the T.G.I. Friday’s brand around the world.
The company said that, for 2010, Friday’s outpaced the casual dining market in the United States by 1.6% as measured by Knapp Track. It currently operates more than 350 restaurants in 60 countries outside of the United States.