Report: Walmart to test small-format campus store
Fayetteville, Ark. -A report Monday said that Wal-Mart Stores is preparing to test a small-format store it is calling “Walmart on Campus” at the University of Arkansas in Fayetteville.
According to the report by Advertising Age, the pilot appears to be part of a series of tests of Walmart’s smaller-format stores.
The 10,000-sq.-ft. space under development replaces a just-closed university-run pharmacy. Walmart on Campus is expected to open in January 2011 when classes resume at the university, though it will also be open for nonstudents.
Wal-Mart has publicized its plans to experiment with a variety of smaller stores designed to expand where its 200,000-sq.-ft. superstores can’t be accommodated.
Blockbuster to close 182 stores by early 2011
Dallas –Blockbuster said in a Friday filing that it plans to close 182 stores in the next few months as part of the movie rental company’s move to get its business back in shape in bankruptcy court.
Blockbuster, which filed for Chapter 11 bankruptcy protection in September, has already closed more than 1,000 underperforming stores in the past two years. It had about 3,000 stores when it entered bankruptcy.
Originally, the company planned to keep the stores operating, but analysts anticipated hundreds of stores would eventually shut their doors.
The company revealed in documents filed in Manhattan bankruptcy court on Friday that it plans to close 72 stores before the end of the year and another 110 stores in the first few months of 2011. The store locations weren’t disclosed.
Blockbuster also said in the documents that it is renegotiating leases on stores it is looking to keep open.
Blockbuster is expected to emerge from bankruptcy protection later in 2011 under new owners led by billionaire investor Carl Icahn.
Hodgdon renovates former Circuit City for Ashley Furniture
Burbank, Calif. – Colton, Calif.-based Hodgdon Group said Monday it has completed the conversion of the former Circuit City for an Ashley Furniture HomeStore in downtown Burbank, Calif.
Hodgdon Realty Group negotiated the 31,000-sq.-ft. lease for Ashley Furniture with Crown Realty & Development Inc. of Irvine, Calif. Hodgdon-Miank Construction served as the full-service design-build contractor and completed the major renovation for a new Ashley Furniture HomeStore.
The team redesigned the exterior of the building, including the addition of several windows, and a new facade and entry. The interior was completely demolished and redesigned, as well.
McKently Malak Architects Inc. of Pasadena served as the project architect.