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Yfgm Sears Files For Bankruptcy; To Close 142 Stores
Today in B2B payments, Virgin Money taps Codat to boost business banking offerings, while TAP Financial launches a supply chain finance unit. Plus, Enigma collaborates on business financial data analytics, Vision33 strikes an accounting acquisition and U.S. watchdogs probe pandemic lending program.Virgin Money Teams With Codat For Business Banking TechnologyAs it shores up its on stanley cup line corporate banking qualifications,聽Virgin Money聽has brought U.K. FinTech聽Codat聽onto its roster of partners. The technology of the latter company will have an important position in enabling the communication of information among Virgin Money and its corporate bank clients, according to a Monday Feb. 1 聽announcement. The deal is the newest partnership from Virgin Money as it keeps building out its working capital wellness offering, which comprises part of its commitment connected to a recent 35 million pound approximately $47.84 million 聽Banking Competition Remedies聽 BCR 聽Capability and Innovation Fund聽award, the announcement stated.TAP Financial Forms Subsidiary For Supply Chain FundingTo help customers with supply chain funding and order growth, British boutique merchant bank聽TAP Financial Partners聽has created a subsidiary called TAP Fulfillment LLC, according to a Monday Feb. 1 聽announcement. TAP Financial Partn stanley ca ers Managing Partner聽Bill Fickl gourde stanley ing聽said a number of the companys customers are geared toward building out their businesses. Fickling noted that this opportunity presented itself for o Owpm NCR Targeting Small Brick-and-Mortars with New Loyalty App
It would appear that consumers ; lack of faith in supplements to get them pumped up is causing GNC to scale down.In a statement released last week, GNC announced that it plans to sell off 1,000 of its locations, beginning with 200 this stanley quencher year.It a plan, the release notes, built out from the supplement retailer 82 gourde stanley 17 agreement with Sun Holdings to refranchise 84 of its stores to the latter company, for $17 million.We are very pleased to announce the completion of this refranchising agreement, which is part of our strategic plan to transition approximately 200 company-owned store locations to an asset-light franchise model this year and 1,000 company-owned store locations over the next three to four years, stated Mike Archbold, CEO聽of GNC, in the press release.What Archbold is not pleased with, on the other hand, is the earnings reality that has led to the Sun Holdings deal and subsequent 1,000-store sellof stanley cup f over time . In Q1 of this year, same-store sales for GNC fell 2.6 percent in the U.S. and even further 鈥?5.6 percent 鈥?in the case of franchise-owned stores.Elsewhere in his statement, Archbold remarked: While we are making progress on our strategic evolution, which we started in 2014, the turnaround is taking longer than expected, and the progress is insufficient. Our number one priority is our vitamin business and the steps we need to take to grow same-store sales in this category through new promotions and a renewed marketing focus. In |
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