Bermuda Run furnishings store plans expansion
Meg Brown Home Furnishings, based in Bermuda Run, said Tuesday that construction has started on a 9,500-square-foot outlet, sleep shop and warehouse.
The building will be connected to its retail store and warehouse. It will consist of a 5,000-square-foot outlet store and 4,500 square feet of warehouse space. The goal is opening the new building in March.
The outlet will feature a mix of lower-priced brands, along with some closeouts, and market samples. The sleep shop will cover most price points with queen sets starting at $399 and ranging to more than $5,000 for premium models.
Winston-Salem industrial site sells for $1.99 million
A commercial real-estate group has spent $1.93 million to purchase a 13.34-acre site in the Winston-Salem section of Davidson County, according to a Davidson County Register of Deeds filing Monday.
The buyer is Williams Development Group LLC of Winston-Salem. The property was sold Friday as part of a Davidson County Superior Court legal action, according to the filing.
Williams purchased the property in a private sale. The property contains a 1,000-square-foot building. Foltz Concrete Pipe Co. operates on the property and has 15 years left on a 25-year lease, according to the Triad office of CBRE.
Greensboro food distributor completes deal
HF Foods Group Inc., a Greensboro-based food distributor to Asian restaurants on the East Coast, said Tuesday that it has completed its acquisition of B&R Global Holdings Inc.
HF Foods has issued 30.7 million shares of its common stock to former shareholders of B&R, which has become a wholly owned subsidiary of HF Foods.
Founded in 1999, B&R Global supplies 6,800 restaurants across 11 Western states.
HF Foods now has 14 distribution centers in nine states with a fleet of more than 340 refrigerated vehicles and 960 employees supported by two call centers in China. Its customer base has been expanded to more than 10,000 restaurants in 21 states.
The combined company would have had $800 million in revenue and profit of $22 million in fiscal 2018.
Zhou Min Ni will remain as chairman of HF Foods, while he and Peter Zhang, the former chairman and chief executives of B&R, will serve as co-chief executives.
Caterpillar eliminates 120 temporary jobs in Texas
Caterpillar Inc. confirmed Tuesday media reports that it has ended 120 temporary worker jobs at a plant in Victoria, Texas, in response to a sales decline related to U.S. tariffs on Chinese steel imports.
The job cuts occurred at a hydraulic excavator facility that has about 820 employees.
Kate Kenny, Caterpillar’s spokeswoman, attributed the company’s decision to “market conditions.”