Krispy Kreme plans flagship shop

in Times Square

Krispy Kreme Doughnuts Inc. said Monday it will open a 24/7 flagship shop in Times Square in New York in early 2020.

The company said the 4,500-square-foot shop is projected to serve more guests annually than any other shop worldwide.

That will include the world’s largest Krispy Kreme doughnut box with stadium-style seating, the world’s largest “hot light,” and exclusive merchandise tied to New York.

Richard Craver

Qorvo plans to close Florida plant, cut 141 jobs

Qorvo Inc. plans to eliminate 141 jobs as part of closing its manufacturing plant in Apopka, Fla., by Dec. 1.

The Greensboro chipmaker filed a WARN notice with the Florida Commerce Department on June 3. It said the job cuts will come in phases.

The company said it will keep an engineering design center in Apopka.

Qorvo could not be reached for comment on whether some of the production will be transferred to operations in Greensboro.

Richard Craver

Novant Health opens Lewisville family clinic

Novant Health Inc. said Monday it has opened Shallowford Family Medicine in Lewisville.

The clinic at 165 Lowes Foods Drive in Lewisville features Dr. Jennifer League-Sobon and family nurse practitioner Vanessa Bostwick. League-Sobon has been practicing in the area for nearly 20 years.

The clinic is open from 7:30 a.m. to 5 p.m. weekdays. For more information, call 336-893-2270.

Richard Craver

BlackRock listed as major Kontoor shareholder

Kontoor Brands Inc., a jeanswear company that spun out of VF Corp. on May 23, disclosed Monday that BlackRock is its first large investor.

Kontoor shareholders received one share for every seven shares of VF they owned.

The company reported in a regulatory filing that BlackRock holds an 11.6% ownership stake, or 6.55 million shares.

There are 55.62 million outstanding shares.

Richard Craver

Private equity firm buying Shutterfly for $1.74 billion

SAN FRANCISCO — Private equity firm Apollo Global Management is buying online photo publishing company Shutterfly for $51 per share.

Apollo will pay $1.74 billion for the 20-year-old company, which became popular offering its users prints and photobooks of their favorite shots. But demand for that type of service has declined as people opt to share photos online through Facebook and other social networks.

The Associated Press

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