By Jeanne Kuang | CalMatters California touted a victory for working people in 2016 when it enacted a sweeping series of minimum hikes, making sure the lowest-wage workers would earn at least $15 an hour by 2022. Then-Gov. Jerry Brown, while signing the law, spoke of “giving people their due;” then-Senate leader Kevin de León … Read more
Discount retailer Big Lots is shuttering 75 stores in California, new regulatory documents show. The 386-page filing to the Securities and Exchange Commission details new loan terms with its creditors. Two months ago, Big Lots said it would close 150 stores, but that number has since grown to 315. California is taking the biggest hit. … Read more
Facing price pressures and fierce competition, California’s vast and fragmented marijuana industry is consolidating, ushering in the era of Big Weed. Legalization was led by colorful and high-flying stoners. But the sober demands of efficiency, capitalization and tight corporate management are driving a wave of mergers and acquisitions. “It’s a nascent industry that is going … Read more
By Nathaniel Meyersohn | CNN New York — Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores. Family Dollar will close 600 locations this year and 370 stores over the next several years as store leases expire. Family Dollar has around 8,000 US stores. Dollar … Read more
New York (CNN) — The Body Shop has shut down all of its US-based operations and will be closing dozens of Canadian store locations as it files for bankruptcy. In a news release earlier this month, the UK-based cosmetics company announced that its US subsidiary is no longer operational, effective March 1. It added that … Read more