Retail

Retail

Five-story luxury development on North Neil breaking ground this week

CHAMPAIGN — Work on the luxury, five-story, mixed-use 520 Neil development on the north side of downtown Champaign is beginning this week, its developer said.

With demise of Toys R Us, sales plunge at Hasbro

PAWTUCKET, R.I. (AP) — The repercussions from the demise of Toys R Us have begun to ripple outward beginning with Hasbro, which reported a loss and plunging revenue Monday for its first quarter.T

oys R Us, hammered by shifting consumer trends, is shuttering the 700 stores it has left, depriving Hasbro, Mattel and other toy makers of prime display space nationwide.

Hedge fund offers to buy Kenmore from Sears

NEW YORK (AP) — Eddie Lampert's hedge fund, Sears' biggest shareholder, has asked the struggling retailer to sell the Kenmore brand and its home improvement business, the company confirmed Monday.

The private equity firm ESL Investments said that it might buy the assets if the company is willing to sell, sending shares of Sears Holding Corp. up nearly 5 percent in early trading.

Just Askin' | Change of fortune for Gordmans

Q: Did Gordmans ever close?

A: No, it did not. The store is still very much open.

In March 2017, the discount-department store announced that it had filed for Chapter 11 bankruptcy protection and that it would be closing all 106 of its stores.

Developer tight-lipped about Campustown high-rise after alley vote

CHAMPAIGN — The developers behind the 17-story high-rise coming to Campustown said there are still several steps to go before they can talk about their project.

The Champaign City Council approved two items Wednesday that will allow CORE, a Chicago-based firm that specializes in college-town developments, to build around and widen the alley north of The Clybourne at 706 S. Sixth St.

Entertainment listings, April 19-26, 2018

EVENTSThis weekend

AMISH COUNTRY SPRING QUILT SHOW

What: Amish handcrafted quilts, competition, exhibit and auction quilts, quilt vendors with materials and supplies. Quilts are displayed every day. Quilt auction on Saturday. Quilt classes, quilt/needlecraft and other vendors at the show itself and other displays downtown in the Gazebo Annex.

UPDATE: Champaign Bergner's liquidation sale begins Friday

Biz tips? Email Ben Zigterman at bzigterman@news-gazette.com

UPDATE, 4:45 p.m. Thursday:

CHAMPAIGN — The liquidation sale at the Bergner’s store in Market Place Mall will begin Friday, according to parent company Bon-Ton.

China vows to lift limits on automaker ownership

BEIJING — Facing the risk of a trade fight with the United States, China announced plans Tuesday to allow full foreign ownership of automakers in five years.

Deal paves way for new Campustown high-rise

CHAMPAIGN — The city council has signed off on an agreement on an alley with developers planning a 17-story high-rise on the east side of Sixth Street in Campustown.

Tribune Tower owners unveil redevelopment plans

CHICAGO (AP) — The owners of Chicago's Tribune Tower have unveiled plans to build a skyscraper next to the neo-gothic building that would be the city's second tallest.