Tuesday, September 24, 2019

DECELERATING NEWS

Flywheel Sports, the spin chain, is closing 11 of its 42 locations. Flywheel had been taken over by a lender amid financial struggles and was working with an advisor to explore a possible sale... Regis Corp. plans to sell more than 3,100 salons in its transition to a full franchise business model. In its last fiscal year, the Edina-based company has sold 767 salons to franchisees, making more than half its 7,145 salons franchises, and said it will sell almost all of the rest of the corporate-owned stores. Regis will also cut the total number of salon brands from more than 50 to just five core brands: Supercuts, SmartStyle, Cost Cutters, First Choice Haircutters and Roosters... Nearly 100 additional Kmart and Sears stores could close in December or sooner. The news comes just weeks after retailers announced 26 Sears and Kmart locations would close in October. Liquidation sales are expected to start in mid-September. About 400 stores are expected to stay open under a new entity Transform Holdco... At least 9 Ruby Tuesday restaurants have closed this month. Most are located along the East Coast from Massachusetts to Delaware. 5 are in New York. The chain has closed more than 120 domestic locations since 2016, about 76 of them in the past 20 months. The chain’s current count stands at 460 units...Fred’s has filed for bankruptcy. The company has begun liquidation sales at its stores, which are expected to close in the next 60 days.. This year, the company’s store footprint shrunk from roughly 500 to less than 100 since April when it began its first round of closures.

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