TD Bank will close 81 of its 1,223 retail branches, almost 7% of all locations, as the Covid-19 pandemic accelerates the switch from brick-and-mortar to digital banking. Cherry Hill-based TD, the U.S. retail banking arm of Toronto’s TD Bank Group (NYSE: TD), said the closings will take place by April 23. They include locations in… Read more »
For retailers such as Boyds, a clothing and accessory store that caters to well-heeled Philadelphians, the pandemic has been challenging and this past holiday shopping season even more vital to its future. The retailer opened a pop-up store at Ardmore’s Suburban Square in October to test the suburban market for the first time in its more… Read more »
Wawa is taking to Bucks County on Friday to open the first standalone drive-thru-only convenience store in its footprint that includes more than 900 locations. The 1,800-square-foot store at 549 W. Trenton Ave. in Morrisville will boast a single-lane drive-thru that has a capacity for 12 cars at a time. The location will operate daily… Read more »
The Giant Co. will locate one of its grocery stores in a portion of a vacant Sears in Northeast Philadelphia that will undergo a $24 million redevelopment. Giant will occupy about 60,000 square feet of the three-story, 237,151-square-foot property at Great Northeast Plaza at the intersection of Bustleton and Cottman avenues. It is one of… Read more »
Pennsylvania Real Estate Investment Trust will relinquish much of its involvement in Fashion District Philadelphia beginning Jan. 1, leaving its partner in the project, Macerich Cos., to control the operations and make decisions involving the Philadelphia retail center, according to Securities and Exchange Commission documents filed by PREIT. The arrangement arose as part of… Read more »
OceanFirst Bank will open its first retail branch in Pennsylvania after signing a 10-year lease to occupy 2,000 square feet at 1500 Market St. in Center City. The Toms River, New Jersey-based bank has been shopping for a high-profile Center City location to serve as its first branch for more than a year. Susanne Svizeny, the… Read more »
The popular Goose Island Brewhouse is Philadelphia’s Fishtown neighborhood has permanently closed after nearly two-and-a-half years of operation, the latest fallout from the Covid-19 pandemic. The 10,500-square-foot brewpub announced the shuttering late Friday afternoon via its Facebook and Instagram accounts. Goose Island Beer Co. is based in Chicago, and has been owned by Anheuser-Busch InBev… Read more »
Two German markets continue expansion into region German grocery store Lidl is in the midst of a large expansion on the East Coast of the United States. Its latest store opened at 9175 Roosevelt Blvd. in Northeast Philadelphia. Above, a location in Middletown, Delaware. Apair of grocery stores run by German-based companies opened their doors… Read more »
A month after filing for Chapter 11 bankruptcy protection, the U.S. Bankruptcy Court for the District of Delaware approved a pre-packaged restructuring plan for Pennsylvania Real Estate Investment Trust on Monday. The Philadelphia company expects to emerge from bankruptcy in early December, later than its initial expectation to be done with the proceedings by the… Read more »
A partnership has paid $28.75 million for a former Sears in Northeast Philadelphia and has plans to invest another $24 million to redevelop the vacant department store. Sears Holdings Corp. closed the store in April 2018 as part of a move to shutter 100 stores nationwide. The transaction was initiated six months before the onset… Read more »
