Cici’s Declares Bankruptcy Amid Pandemic Posted on 3041
Cici’s, a pizza buffet chain, recently filed for Chapter 11 bankruptcy and revealed its sale to its primary lender, D&G Investors. Amid the ongoing coronavirus pandemic and dine-In restrictions, the company has faced a rapid decline in funds.
D&G Investors acquired the chain for USD82 Million worth of debt in December. There are currently 318 locations within 26 states, less than half the amount it had over a decade ago.
Despite pizza chains such as Papa John’s, Domino’s Pizza and Yum Brands’ Pizza Hut, experiencing an increase in sales throughout the pandemic, buffet-style restaurants didn’t have the same results. Buffets were facing hardships long before the health crisis, however emerging dining restrictions and customers’ concern for hygiene advanced its demise.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Weingarten Realty Reports Fourth Quarter 2020 Transaction Activity and Provides COVID-19 Update
January 8, 2021 GMT
HOUSTON (BUSINESS WIRE) Jan 8, 2021
Weingarten Realty Investors (NYSE:WRI) announced transaction activity for the fourth quarter and for the full year 2020 and provided a COVID-19 update.
2020 Transaction Activity
During the fourth quarter, the Company purchased 42% of Village Plaza at Bunker Hill center with proceeds from the Company’s simultaneous disposition of Overton Park Plaza in Fort Worth, Texas, which marks its exit from that market. Village Plaza at Bunker Hill, of which the Company is now the sole owner, is a 492,000 square foot center in Houston, Texas. It is anchored by a 128,000 square foot H-E-B grocer, Burlington and Academy Sports + Outdoors. This property is one of the top shopping centers in Houston with 140,000 people and average incomes of $141,000
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Here are South Florida’s largest retail sales of 2020
Top sale was $47M
(Getty)
Store closures and Americans’ reliance on e-commerce may have affected the top sales in South Florida’s retail market.
The region’s top retail sale of 2020, of $47 million, fell below 2019’s $96.8 million top sale and 2018’s $88 million top sale.
However, the average price per square foot among 2020’s top five retail sales bested last year’s average $396 compared to $349.
Below is a breakdown of the top five retail sales in South Florida.
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