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Off-Price Retailer Stein Mart Files For Chapter 11

PYMNTS

Off-price specialty retailer Stein Mart, Inc. filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Middle District of Florida, Jacksonville Division amid a challenging retail climate and the pandemic, the company said in a statement. In July, Ascena Retail Group, Inc.

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Local Governments Move In On Retail Vacancies

PYMNTS

It was supposed to be a thriving retail center in Milwaukee when it was built seven years ago. The DEO “seeks concepts and an operator to program the space to boost innovation and entrepreneurship, demonstrate creative placemaking and feature the Made in Fairfax Network. But it never happened. Starting Jan.

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Canada’s TFI To Acquire UPS Freight In $800 Million Deal

PYMNTS

Canadia's TFI International (TFI) is acquiring Richmond, Virginia-headquartered UPS Freight for $800 million in a deal anticipated to close in the first quarter of 2021. TFI, which includes truckload, less-than-truckload and logistics operations, reportedly generated revenue of approximately $4.1 and Canada. billion in 2019.

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How Finfit is building out its financial toolkit for hourly and other workers

Bank Innovation

The field of fintech companies focusing on people who live paycheck to paycheck continues to grow, with Virginia Beach-based Finfit picking up $7 million in Series B equity funding on Friday. The 11-year-old company operates a digital financial wellness platform for workers that is available through […].

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‘Ship-ageddon 2020’ Just Keeps Getting Worse

PYMNTS

UPS imposed shipping restrictions on some large retailers such as Gap, Nike, L.L. The massive Nor'easter appears poised to impact some 47 million Americans, with heavy snow expected to blanket parts of the Northeast and freezing rain lashing parts of Central Virginia and North Carolina with ice. Hot Topic Inc., Newegg Inc.

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Gymboree Looks To Close With Second Bankruptcy

PYMNTS

The retailer, which has just under 950 locations, filed for protection from creditors in the U.S. Bankruptcy Court for the Eastern District of Virginia, Bloomberg reported. The report noted that many retailers have filed for bankruptcy before liquidating. plans to close following its second bankruptcy.

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Brink’s Closes $860M Deal For Majority Stake In G4S

PYMNTS

Brink’s, which is based in Richmond, Virginia, said the transaction adds 14 new markets to its realm: the Netherlands, Malaysia , Romania, Belgium, Ireland, Kuwait, the Czech Republic, the Philippines, the Dominican Republic, Cyprus, Indonesia, Lithuania, Estonia and Latvia. and several smaller markets. “The

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