The Nordstrom family is taking back control of its store in a $6.25 billion deal | Business

Category: Business

Nordstrom is going private in a $6.25 billion deal with its founding family and El Puerto de Liverpool, offering shareholders $24.25 per share. This marks a significant shift for the 123-year-old retailer, which has faced challenges from online competitors and changing consumer habits. The deal is expected to close in early 2025, pending shareholder approval.

Keywords: Nordstrom, private equity, retail industry

Source: CNNMoney

Update At: 12/24/2024

Related Sources

Japan's SoftBank plans to invest $100 billion in US projects over the next four years.

SoftBank Group plans to invest $100 billion in U.S. projects over the next four years, focusing on artificial intelligence. President-elect Donald Trump announced the investment alongside SoftBank CEO Masayoshi Son, highlighting it as a sign of confidence in America's future. This investment doubles a previous pledge made by Son in 2016.

ABC News

Japan's SoftBank plans to invest $100 billion in U.S. projects, Trump says

President-elect Donald Trump and SoftBank CEO Masayoshi Son announced a $100 billion investment plan in U.S. projects over the next four years, focusing on artificial intelligence. This investment is seen as a sign of confidence in America's future, with Trump highlighting the optimism from investors since his election. The announcement follows previous investment pledges by SoftBank and comes amid Trump's efforts to promote his policies and negotiate with foreign leaders.

PBS NewsHour

Trump y SoftBank anuncian inversiones por $100,000 millones

Donald Trump and SoftBank's Masayoshi Son will announce a $100 billion investment aimed at boosting artificial intelligence and related infrastructure projects, intending to create 100,000 jobs in four years. This follows a previous initiative in 2016 where SoftBank pledged $50 billion to create 50,000 jobs, though the success of that effort remains unclear. SoftBank's current financial status raises questions about the feasibility of the new investment.

Telemundo New York

SoftBank to Invest $100 Billion in US After Trump Win

President-elect Donald Trump announced that SoftBank Group Corp. plans to invest $100 billion in the U.S. over the next four years, aiming to create 100,000 jobs in artificial intelligence and related sectors. This commitment marks a significant investment in the U.S. economy, reflecting optimism from SoftBank's CEO Masayoshi Son about Trump's presidency. The investment follows previous pledges made by SoftBank and highlights ongoing efforts by global companies to engage with the incoming administration, despite uncertainties regarding capital availability.

Transport Topics Online

Why is tech giant SoftBank investing over $100 billion in the US?

Masayoshi Son and Donald Trump announced a $100 billion investment by SoftBank in U.S. projects over four years, focusing on artificial intelligence infrastructure expected to create 100,000 jobs. Son, known for his bold investment strategies, has a history of significant investments in technology and telecommunications, including companies like Alibaba and Arm. The impact of AI on job creation remains uncertain, and while SoftBank has returned to profitability, the nature of the promised investments is still unclear.

ABC News

Is Big Lots closing? What to know as company announces 'going out of business' sales

Big Lots is set to close all its locations after filing for Chapter 11 bankruptcy, with over 400 stores already closed in 2024. The company plans to start 'going out of business' sales at remaining stores, although CEO Bruce Thorn mentioned that closures could be reversed if a sale is completed. The company had previously filed for bankruptcy and attempted to sell its assets, but the sale fell through.

USA TODAY

Big Lots' doors closing after sale collapse amid economic woes

Big Lots is closing all its stores after a failed sale to Nexus Capital Management, following the closure of over 400 locations in 2024 due to bankruptcy. The company, which operates 963 locations, is starting 'going out of business' sales as it seeks alternative buyers amidst challenging economic conditions.

10TV

Big Lots to close remaining stores

Big Lots will close all its remaining stores across the nation, including nine locations in the greater Baltimore area, following earlier closures in Reisterstown and Glen Burnie.

wmar2news.com

Big Lots laying off over 500 corporate employees including CEO, closing all stores

Big Lots is shutting down all operations after bankruptcy and a failed sale, with going out of business sales starting soon. Up to 555 employees will be laid off, including the president and CEO, as the company faces $89 million in debts to unsecured creditors.

ABC6OnYourSide.com

Party City is going out of business | Business

Party City is closing all its stores, ending nearly 40 years in business due to financial struggles exacerbated by inflation and competition. CEO Barry Litwin announced the immediate winddown of operations, with employees receiving no severance pay. The company, which recently exited bankruptcy, faced significant debt and rising costs, leading to its collapse amidst a challenging retail environment.

CNNMoney