Another Short Pump-based retailer will be winding down in the unglamorous fashion of a going-out-of-business sale. Just like Circuit City before it, at the end of its corporate life no other company was interested in buying S&K Famous Menswear and trying to turn it around. Aaron Kremer Aaron Kremer is Editor of Richmond BizSense, a Downtown [...]
How Much Will LandAmerica’s 1031 Customers Recover?
The saga keeps getting worse for 450 former LandAmerica customers who last fall tried to complete a simple real estate deal and now can’t get funds they thought would be safely held for a few months by the formerly Innsbrook-based Fortune 1,000 company. Aaron Kremer Aaron Kremer is Editor of Richmond BizSense, a Downtown Short [...]
Is Circuit City Back From The Grave?
It’s still alive, sort of. A computer firm called Systemax Inc. is seeking to buy the trademark names and rights to the Circuit City website for $6.5 million. The company was headquartered in Short Pump. There will likely be an auction May 11th for the rights. Aaron Kremer Aaron Kremer is Editor of Richmond BizSense, [...]
Henrico Names New Economic Development Head
Henrico County has announced a new director of economic development. Gary R. McLaren has been named executive director of the Henrico Economic Development Authority, replacing Fred Agostino, who retired in December. McLaren, a graduate of the University of South Carolina, has been the deputy director of the Virginia Economic Development Partnership (second in command) since [...]
Circuit City’s Headquarters Liquidation: The Sequel – A Video Tour
The bargain hunters are back at Circuit City’s Short Pump headquarters. The electronics store’s Deep Run III building was opened Tuesday to shoppers. But unlike the sale that ended at Deep Run II, this one is going to take longer – until April – and prices are not negotiable yet. The sale of everything in [...]
Circuit City Opens Corporate Headquarters For Liquidation
Let the rummaging begin. Blu-Ray players, promotional displays, Hawaiian shirts and wireless routers were among the hundreds of items on display in a downstairs conference room at Circuit City’s former headquarters in Short Pump. A liquidation employee said the brand-new goods were pulled from one closet. Aaron Kremer Aaron Kremer is Editor of Richmond BizSense, [...]
Was LandAmerica’s 1031 Business A Ponzi Scheme?
The gloves have come off as former LandAmerica customers fight to retrieve money they gave to the company to hold for a few months. Lawyers representing former customers of LandAmerica’s 1031 Exchange business have filed two class action lawsuits against the company, alleging that the Richmond-based firm committed fraud and was using money from new [...]
Short Pump-Based S&K Menswear Files For Bankruptcy
Short Pump-based men’s clothier S&K Famous Brands, Inc. has filed for Chapter 11 Bankruptcy Protection in an effort to get out of leases and trim costs. The company lists assets of $41,440,100 and debts of $35,499,000 (not including operating leases). There will be a hearing at 2:00 today in Richmond. Aaron Kremer Aaron Kremer is [...]
Inside Circuit City’s Implosion
Not all of us come with a built-in Intel processor, but the current economy has forced me to step up my cognition. On Friday, Jan. 16, I waited anxiously with my Circuit City colleagues for news about the company’s future. We paced back and forth. We chewed on leftover holiday candy. We asked, “What do [...]
Contractors Awaiting Payment For Work At West Broad Village
Work continues at the mixed-use complex of West Broad Village in Short Pump, but several contractors have filed liens to make sure they get paid. Since October, seven companies have filed nine mechanic’s liens totaling more than $3.7 million against property owned by Unicorp National Development, the Florida-based developer of West Broad Village. Aaron Kremer [...]
