VOL. 120 | NO. 241 | Friday, December 2, 2005
Bartlett Warehouse Financed for $3.4 Million
Spritzer Co. LLC has financed property at 6290 Shelby View Drive through Bank of America for $3.4 million. The property includes a warehouse built in 1999 on 3.51 acres in the Shelby Oaks North Business Center. In 2004, the city-county Industrial Development Board quitclaimed the property to Spritzer, which is affiliated with Star Distributors Inc.
Northwest Reports $346 Million Loss
Northwest Airlines announced that it has lost $346 million since filing for Chapter 11 bankruptcy protection in September. In a court filing Wednesday, the airline said that excluding restructuring and other expenses, its loss would have been $136 million. Northwest said it has spent $158 million on restructuring since it filed for bankruptcy Sept. 14.
Buckeye Announces Management Changes
Memphis-based Buckeye Technologies Inc., a manufacturer and marketer of specialty fibers and nonwoven materials, has announced several management changes. F. Gray Carter was named vice president, purchasing and logistics; Elizabeth J. Welter was named vice president and chief accounting officer; Chad P. Foreman was named treasurer and investor relations manager; and Steven G. Dean was named controller.
Fred's Sees 15 Percent November Sales Increase
Memphis-based discount retailer Fred's Inc. has reported that retail sales by company stores rose 15 percent in November to $140.3 million, compared with $122.3 million in November 2004. Total year-to-date sales increased 10 percent to $1.27 billion from $1.15 billion in the year-ago period. Through the first 10 months of 2005, Fred's has opened 58 new stores and 19 pharmacies. Fred's Inc. operates 642 discount general merchandise stores, mainly in the Southeast.