ShopKo Divests Nevada Stores
Green Bay, Wis., ShopKo Stores announced today that it has sold its two Reno, Nev. stores. The buyer is a San Francisco-based group comprised of SPI Holdings and Retail West.
Both stores will stay open through the end of the holiday season and then will be closed early next year. The 147 employees will receive severance packages.
There’s no word yet on what will happen to the buildings. ShopKo cited economic conditions and changes in the Reno retail market as reasons for the closures.
Christopher & Banks Adds Former Galyan’s Head to Board
Minneapolis, Christopher & Banks Corp. has added Robert Mang to its board of directors. He was chairman and CEO of Galyan’s Trading Co. from 2000 to his retirement in 2004.
His addition expands the retailer’s total number of board seats to eight and the number of independent directors to six.
Tommy Hilfiger Receives Five Takeover Offers
New York City, Tommy Hilfiger has received five separate takeover offers, as the fashion design company seeks a buyer while struggling with its U.S. wholesale business, according to today’s Financial Post.
According to sources close to the company, private equity firms Apax Partners and Oaktree Capital Management have submitted bids; names of the remaining three bidders are not yet available.