Wednesday, March 01, 2000
TRISTATE BUSINESS SUMMARY
Roberds secures funds to keep stores running
Roberds Inc., the bankrupt parent of the former Roberds Grand, Tuesday said it has secured financing to continue operations and is again receiving shipments from suppliers.
The Dayton, Ohio-based chain said it obtained $25 million of debtor-in-possession financing from PPM Finance Inc. in Chicago. The line has a 27-month term, which is expected to be long enough to carry the retailer through reorganization.
Roberds filed for Chapter 11 bankruptcy protection in January.
The retailer also said DJM Asset Management and Newark Retail Financial Advisors, both of New York, will handle sale, sublease or disposal of properties that Roberds vacated in Cincinnati and Tampa, Fla. Roberds Grand in Springdale closed in February after a two-week liquidation.
Roberds is awaiting information from Nasdaq to learn whether its stock can resume trading.
Springdale company debuts on top 100 list
HSR Business to Business Inc. — the Springdale-based business-to-business marketing communications firm — ranked No. 48 in Adweek Interactive's annual list of the top 100 interactive firms in the country.
It was the first time that HSR has been named to the trade journal's list.
HSR, formerly Hensley Segal Rentschler Inc., offers strategic consulting, Internet services, integrated marketing communications and public relations services.
The company has about $11 million in revenues and a blue-chip client list including General Electric, Xerox, Paxar-Monarch, Convergys, Broadwing Inc., Hobart Corp. and Pall Corp.
The company previously was named Agency of the Year by Advertising Age's Business Marketing in 1994.
Human resource group to explore talent war
The Greater Cincinnati Human Resource Association will have its 14th annual human resources conference at 8 a.m. Thursday at Xavier University.
The conference — “The Talent War: Are You Winning?” — is presented in cooperation with Xavier Management Consulting Group and the Greater Cincinnati Chamber of Commerce.
More information is available from Cindi McCloskey at 579-3106.
Cash-advance company to open on North Bend
Joining an army of cash-advance outlets, Dayton, Ohio-based Cashland plans to open a store Thursday at 3474 North Bend Road in Monfort Heights.
The store will offer a variety of financial services, including check-cashing, money orders and cash advances up to $500.
OfficeMax profit down 55% for last quarter
Shaker Heights, Ohio-based OfficeMax Inc., the third-largest U.S. office-supply chain, Tuesday said fiscal fourth-quarter profit dropped 55 percent as computer sales declined and Internet spending increased.
Profit from operations fell to $19.1 million, or 17 cents a share, in the quarter ended Jan. 22 from $42.3 million, or 36 cents, a year ago. Sales rose 11 percent to $1.39 billion from $1.25 billion.
Fourth-quarter earnings matched the average estimate of analysts polled by First Call/Thomson Financial. Sales at stores open at least a year fell 1 percent, as the computer business declined 27 percent, the company said. The retailer warned in September that profit for the second half of last year would be hurt by higher advertising and Internet costs.
— From staff and wire reports
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TRISTATE BUSINESS SUMMARY
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TRISTATE MARKET SPOTLIGHT
