FINANCE

Major Investor Joins Trans World Board

BY CSA STAFF

Albany, N.Y. Trans World Entertainment Corp. has appointed Bryant Riley to the board of directors, the company said Tuesday.

Riley, founder of investment firm Riley Investment Management LLC in California, teamed up with Trans World chairman and CEO Robert J. Higgins a year ago in an effort to take the music, movie and video game chain private.

They ultimately dropped their bid after they weren’t able to secure financing for the deal.

Riley takes a board seat vacated by the retirement of Marty Hanaka, CEO and president, Golfsmith International Holdings Inc.

Riley Investment Management owned about 9.7% of Trans World stock as of the end of September. Riley individually owned 122,000 shares, or 0.4%, of the 31 million outstanding shares.

Riley Investment Management has purchased additional shares since September, according to SEC filings.

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Giant Food names East region ops head

BY CSA STAFF

CARLISLE, Pa. Doug Sternberger has been named director of operations and merchandising in the East region for Giant Food Stores.

Sternberger joined Giant in 1980 and most recently served as grocery specialist for the East Region.

 

 

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FTC seeks end to Whole Foods, Wild Oats integration

BY CSA STAFF

WASHINGTON The Federal Trade Commission continued its battle with Whole Foods over its acquisition of Wild Oats, asking the U.S. District Court for the District of Columbia to be a stop to all integration activities and to have the acquired stores rebranded as Wild Oats, with an independent management team to supervise them.

“The FTC believes that this preliminary injunctive relief is necessary and reasonable to preserve interim competition and maintain the commission’s ability to fashion an effective remedy should it be warranted,” the FTC said in its filing.

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