Shawmut Design and Construction has joined Draper and Wexford Science & Technology to break ground on the 111,000-square-foot Integrated Microelectronics Production & Advanced Chip Technology (IMPACT) Center in Lowell, Massachusetts.
Wendy’s will add 1,000 new restaurants in the next three years, with a flexible new design that will fit into smaller spaces. The chain will seek out nontraditional spaces outside of its typical suburban locations. Read the Nation’s Restaurant News story here
Payless Inc. is in talks with its lenders over a restructuring plan that includes closing about 1,000 stores as it wrestles with an unsustainable debt load, according to people with knowledge of the matter. Read the Bloomberg story here
Smaller hotel brand owners and operators are flexing their balance sheets to support rooms system growth to stay relevant amid industry consolidation and increasing competition from alternative accommodation providers, according to Fitch Ratings.
Restaurant Brands International, the Canada-based parent of Tim Hortons and Burger King, will pay $1.8 billion to buy Popeyes Louisiana Kitchen, the companies announced today. Popeyes operates more than 2,000 restaurants, mostly in the US, and RBI is expected to raise the chicken chain’s prospects
The Julia in Miami Beach, Fla., is on track to open this spring with 29 rooms. The interiors were designed by Stephen Busto. Read the Hotel Management online story here
IKEA will open its third North Texas store in 2019, on a 27-acre site in Fort Worth. The 289,000-square-foot store will include 50 room arrangements, three model home interiors and a 325-seat restaurant. Read The Dallas Morning News story here
The Related Cos. is considering building a 200-key hotel in West Palm Beach, Fla., adjacent to the company’s Hilton hotel, which is connected to the city’s convention center. Read the TheRealDeal.com story here
Shamin Hotels is 50 properties strong following its acquisition of Virginia’s Crowne Plaza Hampton Marina Hotel. The 173-key hotel will be rebranded as a Tapestry Collection by Hilton property. Read the Richmond Times-Dispatch story here
ALDI will add up to 1,500 square feet of space for more fresh foods such as produce, baked goods, dairy and meat at its stores that are currently about 18,000 square feet. The move is part of the discount grocer’s $1.6 billion plan to upgrade
Lidl will open its first U.S. stores in North Carolina, South Carolina and Virginia this summer, earlier than originally expected. The 20 stores will be the first phase of the retailer’s plan to open 100 stores on the East Coast within a year. Read The
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