The investors who have been behind Freeport Village Station since it opened in 2009 have hired a Boston-based real estate management group to oversee the large downtown shopping center after they purchased the property for $20 million.
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Posted inBusiness, Local & State, News
Entire block of downtown Freeport to be auctioned after developer breaches mortgage
The Freeport Village Station retail center, which is valued at $32.5 million and includes an L.L.Bean outlet, is scheduled to be auctioned Wednesday as part of a foreclosure.
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Posted inBusiness, Local & State, News
Maine’s only Macy’s will be spared from nationwide cuts
The department store that anchors The Maine Mall in South Portland will not be among the 150 locations the company plans to close over the next 3 years, officials said.
Posted inBusiness, Nation & World, News
Macy’s to close 150 stores as sales decline and company pivots to luxury
The remaining stores will receive upgrades and the company says it will open 15 Bloomingdale’s and 30 of its Blue Mercury cosmetics locations. It is unclear whether the company’s only store in Maine will be impacted.
Posted inBusiness, Nation & World, News
Shaw’s Supermarket parent company merger in doubt as U.S. sues to block merger of Kroger, Albertsons
The lawsuit could scuttle Kroger’s $24.6 billion proposed takeover of Albertsons, which owns 19 Shaw’s supermarkets in Maine.
Posted inBusiness, Local & State, Morning Sentinel, News
Shop featuring vintage, antique and handmade items to bring new life to downtown Waterville building
Sandra Compton, 78, plans to open New Beginnings 2 on Friday at the former Ken-A-Set building at 1 College Avenue.
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LA law aims to make retail workers’ schedules more predictable. Is it working?
Los Angeles is among several cities nationwide that have adopted scheduling laws – part of a growing recognition that schedules are as important to well-being as living wages and sick pay.
Posted inBusiness
Interest rate on retail credit cards hits 30% as holiday shopping season starts
Tempted to use that store credit card on holiday purchases? Don’t, unless you immediately pay off the balance. Otherwise, consumers are looking at 30% interest – or more.
Posted inBusiness
Dollar Tree settles on plan to address safety violations in Maine, nationwide
OSHA will require the company to pay $1.35 million for penalties and to make sweeping, systematic changes to address issues commonly found at stores in Maine and across the U.S.
Posted inBusiness, Nation & World, News
CVS to cut 5,000 jobs across its workforce
The pharmacy giant operates 26 stores in Maine.