Aubuchon Company的动态

It was less than a year ago when Casey's acquired Douglass Distributing and its Lone Star stores, giving Casey's a position in the coveted DFW market. As far as deals go, that transaction was relatively modest but critically important. Douglass and its Lone Star properties were run by the venerable Bill Douglass and his son; and his daughter, Diane McCarty, had crafted an excellent moderate-size retail chain https://lnkd.in/ewer2-qx. I reference that deal because it was a pacesetter for today's significant deal, in which Casey's is acquiring the nearly 200-unit CEFCO network run by the Fikes family. This, coupled with Yesway's major investment in the Dallas-Ft. Worth market and 7-Elevens purchase of Cal's, now makes this market one of the most hotly contested... will be fascinating to watch as the 3 heavyweights operate very different business models. #cefco #caseys #yesway #lonestar #7eleven

True Value, a wholesale hardware supplier with 75 years of history, has filed for Chapter 11 bankruptcy in Delaware, citing between $500 million and $1 billion in liabilities. The independently owned and operated True Value retail stores are unaffected by the filing, and the wholesaler will continue supplying products to its 4,500 locations. True Value's CEO, Chris Kempa, explained that after evaluating strategic alternatives, the company decided a sale would maximize value for its stakeholders. Do It Best, a competitor in the home improvement space, has agreed to serve as a "stalking horse" bidder with an initial offer of $153 million and plans to take on certain obligations and hire True Value employees. True Value is still open to higher offers, and a successful acquisition would represent a significant strategic milestone for Do It Best and the home improvement industry. #chicagoweekly #truevalue #bankcrupt #bankcruptcy

Sad to announce that 99 Cent Stores have officially filed for Chapter 11 bankruptcy… This retailer, primarily operating in California, has faced significant losses in profit due to inflation, shoplifting, mismanagement, and poor business practices. However, the loss of this once-great American franchise does not need to be in vain. With an average store size of 20,000 sq ft (not counting the parking lot), there is a clear conversion opportunity for self-storage developers in California, Texas, Arizona, and Nevada. Have you ever converted an old retail store into self-storage? If so, feel free to comment down below. ? #selfstorage #selfstoragedevelopment #storageinvesting

On Monday, discount retailer Big Lots official filed for Chapter 11, although the company is hoping to avoid the path of fellow retail chains 99 Cents Only Stores and furniture retailer Conns, which have had to liquidate in bankruptcy. Discount chains have faced a tough retail environment this year, with Lumber Liquidators, Bob’s Stores, JOANN and The RoomPlace Furniture and Mattress also commencing Chapter 11 cases. With $556m in funded debt, Big Lots is the third largest of those major Chapter 11 cases, behind Express and JOANN. Sarah Foss, our Global Head of Legal, shared her thoughts with CNN Business on what the future may hold for the retailer, and you can also read our full Debtwire report here: https://lnkd.in/e45Z9M_C ?#retail #bankruptcy #BigLots

As the retail landscape evolves, so do the stories of resilience and reinvention. The recent article from TheStreet by Daniel Kline sheds light on the ever-changing dynamics of retail chains and their potential for revival even in the face of liquidation. In the midst of transitions, the narrative of 99 Cents Only Stores takes center stage. While the company has embarked on a journey of winding down operations, a glimmer of hope emerges with a consortium led by former value retail chain executive Mark J. Miller. Miller, along with a group of investors, envisions not just a revival but a transformation for 143 Southern California stores. Their plan? To rebrand with a ‘treasure hunt’ style, igniting a new era for this iconic brand deeply rooted in Southern California communities. Beyond commerce, 99 Cents Only Stores has been a staple, offering affordable options and fresh produce to its diverse clientele since 1982. Miller’s commitment underscores the importance of preserving this connection and serving communities that rely on these stores. Amidst Chapter 11 bankruptcy proceedings, Miller’s bid faces hurdles, yet his determination remains unwavering. With a belief in the brand’s significance and the communities it serves, Miller continues to navigate towards a brighter future for 99 Cents Only Stores. #HalifaxWest?#WinTogether?#capitaladvisory?#MandA?#restructuring?#operatingadvisory #RetailRevival #CommunityResilience #99CentsOnlyStores #TransformationInProgress Read more here: https://lnkd.in/g6w3HUag

IN CLOSURE NEWS... The Trials of Dollar Stores: A Retail Saga ?? In the realm of retail, the past month has been tumultuous for two prominent US dollar store chains. Family Dollar has announced the closure of nearly 1,000 stores, while 99 Cents Only Stores has declared its closure, citing a myriad of challenges. Amidst a backdrop of inflation and shoplifting woes, both companies have faced a relentless onslaught of difficulties. Yet, beneath the surface, lies a deeper narrative of strategic missteps and underinvestment that have plagued their journey. Family Dollar, with its 8,000 stores primarily in urban areas, has struggled since its acquisition by Dollar Tree in 2015. According to Neil Saunders of GlobalData Plc, the aftermath of the acquisition has left Dollar Tree Stores grappling with the fallout, unable to completely reverse the tide. Similarly, 99 Cents Only, based in the West Coast and Texas, has grappled with its own set of challenges, including inefficient store sizes and strategies that fell short of expectations. Despite these setbacks, hope remains. With a new CEO and management team at Family Dollar, and strategic shifts in pricing and product offerings, there's optimism for a turnaround. Similarly, 99 Cents Only's bankruptcy filing marks a new chapter, as the company seeks to navigate the ever-changing landscape of discount retail. While the road ahead may be fraught with challenges, the resilience of these chains underscores their potential for revival. As Dollar Tree CEO Rick Dreiling asserts, "A well-run and well-located Family Dollar store is a powerful retail force." Los Angeles Times with the full story - https://lnkd.in/eSJyUJf7 ?? *** #Retail #Closures #Bankruptcy #DollarStores #FamilyDollar #99OnlyStores

?? True Value Company Plans to Sell to Do it Best After Bankruptcy Filing True Value Company, a Chicago-based hardware wholesaler with a 75-year legacy, has filed for Chapter 11 bankruptcy. They’ve accepted a $153M offer from competitor Do it Best., which will expand the network to over 8,000 hardware locations nationwide. This sale follows significant liquidity challenges for True Value, with liabilities estimated between $500M and $1B. For investors and property owners, the consolidation of major retail brands could have a big impact on property values. Changes in tenant structure often influence how a property performs, especially when it comes to anchor tenants like hardware stores. How do you think this merger will affect the broader retail landscape? #RetailRealEstate #HardwareIndustry #CRE #NetLease #InvestmentOpportunities Bisnow https://lnkd.in/ePpmg2e6

M&A News: Dollar Tree Stores won an intense bidding war with Dollar General to acquire Family Dollar back in 2015 for over $8B. They overpaid, and integration was problematic, thus they are closing almost 1000 Family Dollar locations next year, and will rebrand the rest of the locations to showcase the Dollar Tree brand. “This dramatic cull is the coup de grace in the rather botched acquisition of the Family Dollar chain, which has caused Dollar Tree nothing but hassle since it was completed back in 2015,” wrote Neil Saunders, managing director of GlobalData. “Basically, almost ten years on, Dollar Tree is still sifting through the mess it inherited and has not been able to completely turn around,” Saunders said. Fortunately for Dollar Tree, it is a Fortune 500 company traded on the Nasdaq and this loss will be a blip. For SME level companies, overbidding and failing to integrate an acquisition can be catastrophic. Even if you have inhouse M&A department, it might not be good enough. An advisory firm only may not be good enough either, for depending on the size of the transaction, you may need a dedicated transition team. Which is why we have built Stony Hill Advisors, Inc. to be what it is. We want to be there for our clients and can assist with any need or circumstance. Roy Y. Salisbury Geoff Miller John Andrews Paul Visokey Rico Dinolfi Matthew DeWald Dave Severance

Will Express Survive Bankruptcy? Express has filed for bankruptcy, leading to the closure of around 100 stores nationwide. The retailer, which includes brands like Bonobos and UpWest, has entered a non-binding letter of intent with WHP Global and other participants, including Simon Property Group and Brookfield Properties, for the sale of a significant majority of its retail stores and operations. Read the full article here: https://lnkd.in/eV2AyCb8 Cathy Hotka "Casual Friday, and then Casual Everyday, negated the need for sharp professional clothing sold by Express and others before it. Only a rebrand can restore Express’s relevance." Brandon Rael "Express will survive bankruptcy and have a recovery plan in place, as countless other retailers have done in the past. The challenge and question is, even with the lifeline offered by an investor group that includes WHP Global, Simon Property Group, and Brookfield Properties, will Express be able to regain its brand relevance and equity in a challenging and competitive retail marketplace?" Dick Seesel "The investment by Simon and Brookfield (in order to keep their centers reasonably full of tenants) was able to salvage JCPenney but was unable to make it relevant again. I can see the same fate for Express — using Chapter 11 to dump the least profitable leases, but without a clear roadmap for success. Unless Express fixes the internal missteps that put them into this bind, it will continue to lose share to newer and more nimble competitors."