FINANCE

Tops in deal to buy three Big M supermarkets

BY Staff Writer

Williamsville, N.Y. — Tops Friendly Markets, a full-service grocery retailer in upstate New York, northern Pennsylvania and western Vermont, today announced that the company has entered into an agreement with the Farrugia family to acquire three Big M supermarkets located in Elbridge, N.Y., Mexico, N.Y., and Jordan, N.Y.

This marks the third acquisition deal this year for Tops and will expand Tops’ footprint further into areas of northern and central New York State.

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T.Stone says:
Jan-18-2013 07:41 am

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T.Stone says:
Jan-18-2013 07:41 am

Thank you for the bunch of very good suggestions. We look ahead to reading on the topic in the foreseeable future. Carry on the great operate! This website will probably be excellent resource and i also really like studying the ideaseo los angeles

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FINANCE

Green sells stake in Topshop to Leonard Green for $805 million

BY Marianne Wilson

New York — British billionaire Sir Philip Green, the owner of the Arcadia retail group, sold a 25% stake in his fast-fashion Topshop and Topman retail chains to Los Angeles-based Leonard Green & Partners for about $805 million. Arcadia’s other retail divisions include Miss Selfridges, Bhs, and Dorothy Parker.

The deal, which will help fund Topshop’s expansion in the United States, values the company at $3.2 billion, according to a statement from Green. Topshop currently has three U.S. flagships, in New York City, Los Angeles and Chicago. It also has entered into a deal to open in-store shops in select Nordstrom locations.

“Both the Topshop/Topman businesses are very cash generative, and with LGP alongside us, our plan is to step up our international investment program as relevant locations present themselves in the USA and around the world,” Green said in a statement. “This is a very exciting time for the Arcadia Group, with a clear strategy now in place for Topshop/Topman to become major global players. All of our other businesses will continue to be invested in and developed.”

The transaction leaves both Topshop and Arcadia free of bank debt and with positive cash balances, the retailer said. Arcadia owner Taveta Investments Ltd. reported net debt of 308.9 million pounds at the end of its last financial year.

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The problem that won’t go away

BY CSA STAFF

Walmart is occupying the familiar role of corporate villain again this week as new details emerge regarding a fire that killed 112 people at a Bangladesh apparel factory used by one of the retailer’s suppliers.

It doesn’t matter that supplier was not supposed to be using the factory in question or that other retailers were also found to have had goods manufactured at the facility. What matters is that once again Walmart is in the headlines against the backdrop of familiar themes relating to the complexity and operational challenges inherent in its size and the impact its low cost/low price business model has on suppliers who are forced to cut corners to meet Walmart’s requirements. At least that is how the situation tends to be portrayed.

For more on the situation in Bangladesh and Walmart’s involvement click here to read a Reuters account about how "apparel factory fire reveals big brands’ shadowy supply chains," or here for Bloomberg’s perspective on how, "Walmart shouldn’t discount worker safety."

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