Report: Best Buy reviewing British operations
New York City — Best Buy Co. is reviewing its 11 stores in the United Kingdom, according to the Sunday Express.
The chain operates the stores in a joint venture with Carphone Warehouse Group Plc. Best Buy is in talks with its shareholders about all possible options for its British stores, the newspaper said.
Barnes & Noble among bidders buying Borders’ intellectual property
New York City — Barnes & Noble has bought some of Borders Group’s intellectual property along with other bidders, Crain’s New York reported.
According to Hilco Trading, the liquidation company handling the sale, multiple bidders, including Barnes & Noble, have agreed to buy $15.8 million of Borders’ intellectual property, Craine’s said. The properties include a global portfolio of trademarks; Borders, Waldenbooks and Brentano’s trade names; Internet domain names and the Borders.com e-commerce website.
Hilco did not reveal which assets were acquired by which bidder.
Stein Mart appoints interim CEO
Jacksonville, Fla. — Stein Mart announced the appointment of Jay Stein as interim CEO, effective immediately, following the retirement of David H. Stovall, Jr., who has held that position since 2008.
The company also announced the formation of a search committee of the board of directors led by Robert Mettler who serves as chair of the strategic planning committee of the board.