Retailer’s to Bid on Bankrupt G&G
New York City, Although the courts have yet to approve bidding on bankrupt G&G Retail, two retailers—BCBG Max Azria and The Wet Seal Inc.—are seeking the retailer’s assets.
According to filed documents at Manhattan’s bankruptcy court, BCBG’s offer will surpass Wet Seal’s $15.2 million bid for G+G.
Supermarket Pulls Soup After Needle Found
Bethlehem, Pa., Supermarket chain Giant Food Stores removed a minestrone soup product from the shelves of its stores in four states on Monday after a Pennsylvania family found a sewing needle inside a can over the weekend.
The needle was discovered in the chain’s store in Wind Gap, Pa. It was the fourth report of needles or pins found in food purchased from area stores in the past two weeks.
A spokesman for Giant, owned by the Dutch food company Ahold Ltd., said personnel pulled cans with similar lot numbers from shelves of all stores as precaution. Giant is also increasing its undercover security until further notice.
Chico’s FAS Acquires Fitigues
Fort Myers, Fla., Chico’s FAS announced Monday that it has acquired 12 of 14 retail locations of the Arizona-based clothing retailer Fitigues for an undisclosed price. The stores will operate as a new branded division of Chico’s.
“By bringing Fitigues under the Chico’s umbrella, we can provide the necessary capital, back office operations assistance, and leverage needed to successfully expand this brand across America over the next several years,” said Scott A. Edmonds, Chico’s president and chief executive.