Mitchell Books in Covington Plaza expects to close its doors today, while a bedding company looks to begin business in coming weeks at the 18,200-square-foot location.
Property management firm Lamar Cos. said Mitchell Books is expected to exit by week’s end to make room for U.S. Mattress & Furniture, which already has a banner draped across the storefront.
Mac McCaffery, manager for Mitchell, has said the economy hit the independent store hard.
A February exit was planned, but U.S. Mattress wanted an earlier debut. The company’s owner, Mark Gibney, was not available for comment. He has experience running a similar operation in central Ohio.
Former I&M executive joins Saint Francis
Former Indiana Michigan Power executive Helen J. Murray proved true to her word and has entered the world of academia.
Officials at the University of Saint Francis have named her interim dean of the Keith Busse School of Business and Entrepreneurial Leadership.
Murray retired as president and chief operating officer of I&M in July after more than 30 years at the utility that serves about 580,000 customers in Indiana and Michigan. In June, she hinted at working at a college.
Owner of Marsh drops bid to sell
The parent company of Marsh Supermarkets has ended its push to find a buyer for the chain of about 100 grocery stores in Indiana and Ohio.
Florida-based Sun Capital Partners late last year hired an investment adviser and began soliciting offers for Marsh.
It bought the family-run chain in 2006, paying $88 million and assuming $237 million in debt.
Marsh spokeswoman Connie Gardner tells the Indianapolis Business Journal that Sun Capital Partners isn’t currently pursuing a sale. She says the company is looking for new store sites and continuing to remodel existing stores.
Independent grocery analyst David Livingston says Sun Capital was turned down because possible buyers didn’t believe the Marsh chain was worth the asking price of at least $100 million.
Gasoline prices continue to slide
Retail gasoline prices continued to fall Monday.
Two surveys released Monday showed gas prices dropped in the past week but remained higher than a year ago.
The average retail price for a gallon of unleaded regular was $2.708 a gallon Monday, according to AAA, Wright Express and Oil Price Information Service.
Potash rejects BHP’s $38.5 billion offer
Potash Corp. of Saskatchewan Inc. said Monday that its board voted unanimously to reject BHP Billiton’s hostile $38.5 billion takeover offer as it doesn’t reflect the strong growth the company believes it is poised to enjoy.
The Canadian company said it is in talks with several companies who have approached it or it has initiated contact with.
Potash, the world’s largest potash miner, said its share price had been depressed by the global recession.
