Buehler’s store to close
Buehler Food Markets Inc. revealed late Monday afternoon that it plans to close its 9-year-old Brunswick store Oct. 21, saying the location is “underperforming.”
The closing of the store at 3688 Center Road will affect 125 full- and part-time employees.
The Wooster-based grocery chain said “eligible employees” will be offered a position at other Buehler’s Fresh Foods locations, and employees who do not want to transfer will be offered a severance package.
Buehler’s said it is working with Brunswick-area retailers to “recommend these individuals” for employment.
Buehler’s said the decision came as it had an opportunity to consider “lease options” and as it was evaluating “underperforming stores.”
Buehler’s does not own the property — which is in a plaza — that houses the Brunswick store.
The company noted it will continue to operate three supermarkets in “the competitive Medina County market.”
Those stores are in Medina Township, Montville Township and Wadsworth.
The Brunswick store will honor all weekly advertised specials through the third week of October, Buehler’s said.
The E&H Family Group is the operator of the Buehler’s stores. There are a total of 14 in Ohio, including one in Green.
Pfizer opts against breakup
Drug giant Pfizer says it won’t split into two publicly traded companies, despite pressure from investors frustrated by its lagging stock price, ending years of Wall Street speculation over its strategy and future.
The biggest U.S.-based drugmaker said Monday it believes it is best positioned to maximize shareholder value in its current form, but it reserves the right to split in the future if the situation changes.
For several years, the maker of Viagra and the pain treatment Lyrica has been under growing pressure from analysts and investors who argued that by splitting up, the resulting two companies might grow faster than one.
As a result, Pfizer has been reporting detailed financial results for each of its business segments, information that would be required by regulators for a split. Earlier this year, Pfizer promised a decision by the end of the year, but then it reorganized and renamed those segments — a sign a breakup was less likely.
Lands’ End CEO steps down
The CEO of Lands’ End, recruited from the New York fashion house Dolce & Gabbana in a bit of a culture clash, has stepped down after less than two years on the job.
Federica Marchionni was brought to the Dodgeville, Wis., company with its button-down shirts and casual clothing in February 2015. Her employment agreement specified that she would not have to move to the small southwestern Wisconsin city and that her primary workplace would be in New York.
The company said Monday that Marchionni’s departure was effective immediately.
The Lands’ End board appointed Joseph Boitano, executive vice president and chief merchandising and design officer, and James Gooch, executive vice president and chief operating and financial officer, as co-interim chief executive officers.
Customer data stolen, sold
A former Verizon Wireless technician is accused of using the company’s computers to obtain customers’ private call records — plus data showing where customers’ phones were — and then selling them to an unnamed private investigator, federal prosecutors said.
Daniel Eugene Traeger, who worked in Alabama, sold the confidential information for more than four years, from 2009 to 2014, authorities said.
The court records don’t say how many customer records were sold, or how they may have been used.
Compiled from staff and wire reports.