Legal
February 10, 2017 at 11:08 am
The Bass Pro Shops-Cabela’s merger may be on hold. The Federal Trade Commission (FTC) has sought more information regarding the transaction, delaying the potential closing deadline. This has now jeopardized the sale of Cabela's financial arm to Capital One. Capital One agreed to pay about $200 million to originate and service Cabela's co-branded credit card…
February 7, 2017 at 1:21 pm
Eastern Outfitters, the parent of discount chain Bob's Stores and outdoor retailer Eastern Mountain Sports, filed for bankruptcy protection on Sunday, the latest U.S. retailer to do so amid increased competitive pressure facing the sector. British sportswear retailer Sports Direct International has engaged in extensive talks with Eastern Outfitters to become a stalking-horse bidder in a…
February 6, 2017 at 12:14 pm
GNC, the vitamin and supplement retailer, is preparing to pursue legal action against Fox Broadcasting, claiming that it suffered "significant economic and reputational damages, lost opportunities, and consequential damages" because the network rejected the brand's first-ever Super Bowl ad after initially clearing it. According to reports, the network sold GNC a 30-second spot during the…
February 3, 2017 at 9:25 am
Wet Seal LLC filed for bankruptcy protection on Thursday, following reports last week that the struggling teen apparel retailer had closed all its stores after it was unable to find a buyer. The Irving, Calif.-based company listed assets of $10 million to $50 million and liabilities of $50 million to $100 million in a filing with…
February 2, 2017 at 10:47 am
Restoration Hardware and Crate and Barrel are going head-to-head in court over trade secrets and in-store cafes. The trendy Three Arts Club Cafe operated by Restoration Hardware inside its RH Chicago Gold Coast gallery is at the center of this fight. In 2012, Restoration Hardware started developing a concept to include food and beverage services…
January 30, 2017 at 11:53 am
Shoes.com Technologies Inc., the Vancouver, Canada-based online shoe retailer, has shut down operations effective Friday, and will work with its lenders to liquidate its assets and assign some of its companies to bankruptcy. The company took its websites offline and said it had closed its two brick-and-mortar stores in Vancouver and Toronto. Previously called Shoeme.ca,…
January 26, 2017 at 10:47 am
President Donald Trump’s so-called border adjustment tax proposal is intended to boost U.S. manufacturing and bring jobs back to America that have gone overseas over the years. The President has said that a 35 percent tax or tariff would be imposed on companies that shut down manufacturing plants and lay off workers in the U.S.…
January 23, 2017 at 11:43 am
Walgreens Boots Alliance said on Friday it would not comment on reports that the Federal Trade Commission may take longer to approve its acquisition of Rite Aid. Bloomberg News was first to report that “FTC lawyers aren’s sold on Walgreens' proposal to sell 865 drugstores to Fred’s, Inc.” Bloomberg cited two people who asked the…
January 20, 2017 at 9:16 am
As the economy continues to shift to more sales being transacted remotely, state tax authorities have been put in a bind. Since sellers have no obligation to collect taxes on sales in states where they have no physical presence, governments are looking for ways to recover lost tax revenue on online sales. There's a real…
January 4, 2017 at 10:04 am
The patent for Amazon.com's one-click payment technology is expiring this year, meaning other online stores may adopt similar payment methods. Amazon first applied for the patent in 1997, and was granted it in 1999. Over the years, the online retailer has defended its exclusivity in court. For example, Apple paid Amazon an undisclosed amount to develop…
