BJ's Wholesale Club to open new Mesquite store, bringing up to 150 jobs
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Miami Herald
a few seconds ago
- Miami Herald
Claire's files second bankruptcy petition in 7 years
Aug. 6 (UPI) -- Officials for retailer Claire's filed for bankruptcy protection on Wednesday as its operating costs rise while demand for its goods declines among its youthful customers. A combination of tariffs on the mostly Chinese-produced goods sold by Claire's and inflation has cooled demand among its mostly youthful customers, according to NPR. So has its distribution system of brick-and-mortar storefronts inside malls at a time when its traditionally youthful shoppers prefer buying goods online. Illinois-based Claire's has a $500 million loan due for payment next year, but its declining revenues and profits endanger its stores in the United States and Canada. "Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire's and its stakeholders," Claire's Chief Executive Officer Chris Cramer said in a prepared statement. Claire's counterpart in Canada likely will file for bankruptcy protection there, but the retailer's North American stores will remain open. "We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives," Cramer said. Claire's filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for Delaware. The retailer is noted for its low-cost fashion accessories, jewelry and piercing services. In 2018, the company filed for bankruptcy protection. Elliott Management Corp. and Monarch Alternative Capital now control Claire's, which wiped out $1.9 billion in debt and kept its retail outlets open after securing a $575 million loan, according to CNBC. The retailer cited between $1 billion and $10 billion in assets and liabilities alike in Wednesday's bankruptcy filing. Tariffs on Chinese-made goods could affect Claire's supply chain, and increased competition from ear-piercing service providers is affecting Claire's business among its younger customers. "Competition has ... become sharper and more intense over recent years," GlobalData managing director Neil Saunders recently said. "Retailers like Lovisa [are] offering younger shoppers a more sophisticated assortment at value prices," Saunders said. "This is more attuned to what younger consumers want and has left Claire's looking somewhat out of step with modern demand," he added. Amazon and other online retailers also are negatively affecting Claire's business model, according to Saunders. Copyright 2025 UPI News Corporation. All Rights Reserved.
TechCrunch
a few seconds ago
- TechCrunch
Upwork is buying its way into corporate staffing beyond freelancers
Upwork, a platform that connects companies with freelancers, announced two acquisitions to help build out a new, standalone enterprise-focused business that could expand its market reach. The San Francisco-based company announced it has acquired Bubty, a workforce management platform, and has signed a definitive agreement to acquire Ascen, a global compliance and employer of record company, ahead of its second-quarter earnings call on August 6. Upwork will integrate these two companies into its existing enterprise business to create a standalone entity under the Upwork umbrella. The move is significant because it will allow Upwork to offer access to talent beyond the independent contractor workforce Upwork is known for — essentially enabling the company to compete in new areas of the corporate staffing market. The new entity will support contract types including: agent of record, employer of record, and staff augmentation. Upwork President and CEO Hayden Brown told TechCrunch that the timing was right to launch this new enterprise-focused business because Upwork's existing enterprise customers have been increasingly asking for access to these talent pools. 'Most of the providers that exist today force their customers to choose between flexibility and compliance, or speed and scale, or having a digital tool versus having something that's actually robust and for the enterprise,' Brown said. 'And with this new capability, we're refusing to compromise. We're giving our customers all of the benefits they've been looking for, and we've heard loud and clear that they want this singular solution.' Brown said that Upwork's existing enterprise business makes up about $100 million of the company's overall $750 million in yearly revenue. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise on August 7. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW Upwork decided to make the enterprise business a standalone entity because enterprises have very different needs regarding compliance and software integrations than the small and mid-size businesses Upwork's main business works with. Keeping them separate allows for better external branding and better internal focus, Brown said. Upwork vetted more than 100 potential companies to acquire to build out this business, Brown said. The company landed on Bubty and Ascen not only for what they bring separately but also for how they worked together — Upwork piloted the companies both individually and together. 'We saw through the power of those pilots how impactful their technology was and how easy it was to basically snap together what each of them offers, along with our existing offering to deliver something very new and innovative in the market,' Brown added. Details on the branding and full offerings of the new standalone business are set to be unveiled later this year.
Business Wire
a few seconds ago
- Business Wire
Kiboko Announces Management and Board Changes
KELOWNA, British Columbia--(BUSINESS WIRE)--Kiboko Gold Inc. (TSXV: KIB) ('Kiboko' or the 'Company') announces a series of changes to its executive leadership and Board of Directors, effective immediately. Craig Williams has been appointed Interim President and Chief Executive Officer (CEO), succeeding Jeremy Link, who is stepping down from his executive role to focus on other professional pursuits. Mr. Link will continue to serve as Chair of Kiboko's Board of Directors, ensuring continuity and strategic support during this transition. Mr. Williams, a co-founder of Kiboko and a director since the Company's formation in 2019, is a Professional Geologist with over two decades of experience in resource exploration, project financing, project development, and corporate leadership. He will serve in this interim capacity while the Board conducts a formal search for a permanent President and CEO. The Company also announces the appointment of Michael Gheyle to the Board of Directors, replacing Amanda Sorsak, who has stepped down. Kiboko thanks Ms. Sorsak for her valuable contributions and dedicated service. Mr. Gheyle brings more than 30 years of experience in international capital markets, including wealth management, derivative trading, corporate finance, institutional sales, M&A, venture capital, and private equity. He has supported companies across a wide range of industries in raising more than $100 million and has held executive, board, and advisory roles with numerous public and private companies. Most recently, he served as CEO and Chairman of Discovery Lithium Corp. He currently sits on the boards of Oyama Capital Corp. and Naked Revival Inc., and advises Solo Automotive Inc., IdBase Technologies Inc., Ameriwest Lithium Inc., and Nova Pacific Metals Corp. These leadership and governance changes reflect the Company's commitment to advancing its exploration assets, positioning the business for long-term growth, and maximizing shareholder value. Additional information about Kiboko can be found on SEDAR+ at and on the Company's website at About Kiboko Gold Inc. Kiboko is a Canadian-based exploration company focussed on advancing its Harricana Gold Project, located 55 km north of Val-d'Or, Québec, within the world-renowned southern Abitibi gold belt. Kiboko's shares trade on the TSX Venture Exchange under the symbol 'KIB'. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward Looking Statements This news release includes certain 'forward-looking statements' which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition, belief, estimate or opinion, or result to occur. Forward looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'interpreted', 'pending', 'suggests', 'preliminary', 'estimates', 'confident', 'may', 'aims', 'targets', 'could', 'would', 'will', or 'plans' and similar expressions, or that events or conditions 'will, 'would', 'may', 'can', 'could' or 'should' occur, or are those statements, which, by their nature, refer to future events. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based upon information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward looking information. Forward looking information in this news release may include, references to potential management changes, board composition, strategic reviews, or limited ongoing corporate or project activities. These statements reflect current expectations based upon information available to management as of the date hereof and are subject to a number of known and unknown risks, uncertainties, and assumptions. Given the Company's current stage and limited operational activity, there can be no assurance that any forward-looking statement will prove accurate, or that future developments will occur in the manner or timeframe anticipated. Actual results and developments may differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include, among others, limited financial resources, potential inability to secure additional financing, market conditions, limited exploration activity, regulatory risks, commodity price fluctuations, and other risks described in the Company's public filings on SEDAR+ ( Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by applicable securities laws. All amounts are in Canadian dollars, unless otherwise stated.
