News Summary Claire’s Holdings LLC has announced the closure of 291 stores across the U.S., including 11 locations in Michigan, as part of its Chapter 11 bankruptcy restructuring. Following significant financial challenges, the company expects to commence store closing sales by September 7, 2023. This marks Claire’s second bankruptcy filing
News Summary Starbucks is set to close its pickup-only store in Grand Rapids as part of a strategy to move away from this model by fiscal 2026. This decision impacts around 80-90 such stores across over 20 states, with a focus on enhancing customer experience and fostering a more traditional
News Summary Onyx Partners Ltd., a Boston-based private equity firm, has announced its acquisition of 119 JCPenney stores for $947 million. The all-cash deal, set to close by September 8, 2025, aims to help JCPenney repay its creditors following its Chapter 11 bankruptcy filing in 2020. The stores span 16.05
News Summary Six JCPenney stores in Michigan are set to be sold as part of a $947 million deal involving 119 properties, finalized by Onyx Partners. These operational stores are part of JCPenney’s ongoing restructuring after its bankruptcy in 2020, aimed at reducing debt and modernizing operations. Following the recent
News Summary The owners of several well-known wineries on the Leelanau Peninsula have taken over Michigan by the Bottle locations in Metro Detroit. This transition comes with plans to enhance the tasting experience and promote Michigan wines. The new partnership aims to spotlight selected wineries, revamp tasting rooms, and expand
News Summary Cava is celebrating the opening of its first Michigan restaurant in Canton on July 20. A Community Day event on July 19 will offer complimentary meals and a donation drive for Gleaners Food Bank. The restaurant, located at 43450 Ford Road, features a diverse Mediterranean menu and aims
News Summary Sheetz is set to celebrate the grand opening of its second store in Michigan on July 22, 2025. Located at 29225 Smith Road in Romulus, the event will feature activities, including gift card drawings and a food drive. Sheetz aims to invest heavily in the Michigan market, planning
News Summary New research reveals that Michigan has become the third-most affected state by tariffs from the Trump administration, incurring a burden of $3.3 billion between January and May 2025. The tariffs, particularly hitting the manufacturing and automotive sectors, have significant repercussions on local businesses and employment, disrupting the tightly
News Summary Hot ‘n Now, the affordable fast-food chain, is set to open two new restaurants in Michigan in 2025, with one located in Wayland. The Wayland location is currently under construction and will emphasize a drive-thru-only model. A second restaurant is expected to open in Alpena later in the
News Summary TerrAscend Corp. plans to shut down its marijuana operations in Michigan by September 2025, affecting around 20 dispensaries and 250 employees. The company cites tough market conditions, including declining sales and increased competition, as reasons for the closure. The move marks the end of TerrAscend’s significant presence in
