Report: Marks & Spencer to expand in China, India and eastern Europe
New York City Marks & Spencer Group, the United Kingdom’s largest clothing retailer, said it will expand in China, India and eastern Europe, close more than 100 British warehouses and consider selling food online, according to Bloomberg News. The retailer has struggled with two years of declining domestic sales.
“It’s about laying the foundations for future growth,” by becoming more “customer-focused, multichannel and international,” finance director Ian Dyson said at a meeting with investors that was broadcast on the retailer’s Web site, according to the report.
The retailer said it plans to add 50 locations in India to its 15 stores in the country through its joint venture with Reliance Industries, while expansion in China will focus on 12 cities from the current single store in Shanghai. M&S will also grow its franchises in Russia, add to its joint ventures in eastern Europe including Serbia, Croatia, the Czech Republic and Poland, the report said.
Fimiani named receiver of Boca Raton center
Boca Raton, Fla. Fimiani Development said it has been named as receiver for Yamato Plaza, a shopping center in Boca Raton, Fla. The announcement marks the expansion of the company’s portfolio of services.
“The reality of today’s economy has led companies like ours to create new business opportunities,” said Mike Fimiani, president of Fimiani Development. “Our ability to lease, manage and handle the disposition of assets while acting as receiver allows lenders to go to one firm to handle the entire process.”
Fimiani is also handling management and leasing of the center.
Chock full o’Nuts leases space near Flatiron Building
New York City MLBKaye International Realty said Wednesday it has arranged a lease for a restaurant in Chelsea (New York City) for Chock full o’Nuts.
The 2,800-sq.-ft. space is located at 25 West 23rd St., near the Flatiron Building. The location was previously occupied by the Comfort Diner.
The grand opening is slated for early December.