Weekly News Roundup for January 14: Hobbico Bankruptcy, Regis Closing Salons, Michelin-Starred Restaurant Closure & More


Bankruptcies, store closings, and political issues continue in the U.S from the start of the year. Hobbico, Inc. the hobby products manufacturer, filed for Chapter 11 bankruptcy protection, which could cut 332 employees. Regis Corporation (NYSE:RGS), located inside Wal-Mart Stores Inc (NYSE:WMT) brand department stores has announced the closing of its 600 underperforming SmartStyle hair salons by January 31, 2018. Danny Meyer’s GreenRiver restaurant announced its January 24 closure through its Facebook page. Just 38% of American voters think President Donald Trump is heading in the right direction, declaring him as the most unpopular second-year president ever. Wild Sports store in Orangevale, California is closing after 40 years of business because of the Amazon effect in 2018.

Hobbico Bankruptcy: Declining Sales Led to Filing of Chapter 11, Over 300 Job Cuts Could Follow at Champaign, IL

Hobby products manufacturer Hobbico, Inc. has gone through the process of filing for Chapter 11 bankruptcy protection. Located in Champaign, Illinois, layoffs could follow as a result of Hobbico’s Chapter 11 protection, leaving 332 employees. Hobbico’s bankruptcy can be attributed to several factors, including heavy debt and, perhaps most importantly, Hobbico’s sales decline over 2017. The company plans to continue operations during the bankruptcy process. Read on to know more.

Regis Corporation Closing 600 SmartStyle Salons Located in Walmart Store


Regis Corporation announced that it will be closing 600 underperforming SmartStyle hair salons by January 31, 2018. These salons are all located in Wal-Mart department stores. Read on to know more.

Danny Meyer’s GreenRiver Restaurant Closing: Trend of Michelin-Starred Restaurant Closures in Chicago Continues

The GreenRiver restaurant closing is both the latest Michelin-starred restaurant closing and the most recent Chicago restaurant to shut down. Danny Meyer’s restaurant closure will occur on January 24, with the announcement having been made abruptly through its Facebook page. There were no details regarding the number of employees losing their jobs as a result. Read on to know more.

Trump Most Unpopular 2nd-Year President Ever; 38% of America Voters Think Country Heading Down Right Track

Despite strong economic data, low unemployment, and soaring stock prices, President Donald Trump’s approval ratings continue to languish near record lows. In fact, Trump is the most unpopular president to ever enter his second year in office. And his popularity is waning.

According to one poll, 38% of American likely voters think the U.S. is heading in the right direction. That’s a two-percentage-point drop from the previous week, which had been the highest level of optimism since April 2017. Read on to know more.

Wild Sports Store Closing in Orangevale, CA: Amazon’s First Sporting Goods Retailer Victim in 2018

After about 40 years in business, the Wild Sports store in Orangevale, California is closing—Amazon.com, Inc.’s (NASDAQ:AMZN) first sporting goods retailer victim of 2018. If 2017 was any indicator, the retail apocalypse will continue to claim both established and newer retailers in 2018. Read on to know more.


Categories: News, Weekly News Update