Legal
When J.C. Penney announced in December that it cut a deal to carry Martha Stewart-branded home goods in its stores, it didn't take Macy's long to say, Wait a minute, Martha.
On Monday, the Retail Industry Leaders Association (RILA) handed out copies of its 2012 legislative agenda to members of Congress, highlighting the issue of online sales tax collection, the item at the top of the organization's list of policy priorities.
The number of sales tax rate changes across the U.S. showed modest decline in 2011, as did the combined average sales tax rate, this according to the annual Sales Tax Rate Report from Vertex, a provider of corporate enterprise tax solutions.
Arizona has handed Amazon a $53 million bill for uncollected sales taxes โ the latest sign that the state is getting tougher on untaxed e-commerce at a time when it's also trying to encourage online distributors to set up operations here.
A Manhattan judge ruled that United Retail Group, owner of the plus-size women's clothing brand Avenue, may borrow $25 million on an interim basis in bankruptcy, according to Bloomberg. U.S. Bankruptcy Judge Stuart Bernstein said he was prepared to approve the loan subject to minor changes in the wording of the agreement.
On Nov. 9, 2011, a group of 10 senators from both sides of the aisle introduced the Marketplace Fairness Act, S.1832. On Oct. 13, 2011, a similar bipartisan bill was introduced in the House of Representatives called the Marketplace Equity Act.
United Retail Group, owner of the Avenue brand of women's fashion apparel and a subsidiary of Redcats USA, today announced that it's voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York and is pursuing a sale process under Section 363 of the Bankruptcy Code.
Looking to sell itself, Talbots opened its books to Sycamore Partners in a move that could lead to the private equity firm raising its original buyout offer, which was snubbed by the women's apparel chain last month. Earlier this month, people familiar with the matter told Reuters that Talbots โ which is also looking for a new leader โ had started actively soliciting offers and private-equity firm Golden Gate Capital was considering a bid for the company.
Pep Boys has agreed to go private in an acquisition by Gores Group valued at about $791 million after the auto parts retailer's previous attempts to sell itself were unsuccessful.
A judge has sentenced Brittany Norwood to life in prison without the chance of parole for the savage killing of co-worker Jayna Murray in a Bethesda, Md. yoga store last year, apparently sparked by an attempt to steal a pair of yoga pants.