By 1812Blockhouse
Another national chain is closing multiple locations in the midst of bankruptcy proceedings. One of those locations shutting its doors is at 663 Richland Mall.
Ascena, the New Jersey-based parent company of chains including Lane Bryant, Ann Taylor, and more, has announced closure of 1,600 of its 2,800 current stores. More…
(The Center Square)
Ohio concluded the 2020 fiscal year with General Revenue Fund tax revenues of $1.1 billion, or 4.6 percent, below estimates, a clear indication of the impact the COVID-19 restrictions have had on the state.
Tax revenues in June were $50.5 million, or 2.2 percent, below estimate. However, state officials noted that revenues were better than a month earlier when they were 13 percent below expectations.
To balance its budget, state officials implemented several cost-cutting measures, including reducing state agency budgets. State officials also shifted Medicaid expenses using the enhanced Federal Medical Assistance Percentage (FMAP), which Congress authorized with the Families First Coronavirus Response Act. More…
By: Maggie Prosser, Ohio Capital Journal
A survey released by the U.S. Census Bureau estimated that more than 500,000 Ohioans were unable to pay rent last month because of financial insecurity amid the coronavirus pandemic.
The bureau’s Household Pulse Survey studies COVID-19’s impact on social and economic factors like employment, finances, food insecurity, housing, health and schooling. The latest poll indicated 12 million Americas did not pay last month’s rent and nearly 7.5 million have no confidence they will be able to pay next month; in Ohio, more than 360,000 renters say they will be unable to pay next month. More…
By: 1812Blockhouse
]The sound of games and the smell of pizza will be a thing of the past at Richland Mall, as the local Chuck E Cheese operation is closing its doors.
The company filed for Chapter 11 bankruptcy protection in a filing this past week. In doing so, it identified some 45 stores nationwide that it does not intend to reopen. These represent almost ten percent of the chain’s 550 stores. More…
From U-Haul Moving & Storage of Mansfield
U-Haul® will soon be presenting an impressive self-storage facility in Mansfield thanks to the recent acquisition of the former Big Lots® and Value City Furniture® at 1140 Park Avenue West.
U-Haul Moving & Storage of Mansfield is currently offering truck and trailer sharing, towing equipment and moving supplies from a temporary showroom at this location. U-Haul acquired the 9.35-acre property on February 26. More…
By: 1812Blockhouse
Retailer GNC has announced that it has filed for Chapter 11 bankruptcy and will close a significant number of stores.
This is taking place as the company pursues the sale of its business.
According to a press release, GNC shared that “With the support of its lenders and key stakeholders, the Company expects to confirm a standalone plan of reorganization or consummate a sale that will enable the business to exit from this process in the fall of this year.” More…
By: 1812Blockhouse Staff
In early May, we shared the news that the JCPenney Company was possibly closing up to one-quarter of its stores across the country in face of ongoing challenges and the impact of COVID-19.
This past week, the first stage in that process began with the announced closure of 154 JCPenney locations. The location at Richland Mall was not among them.
A release shared by the company on Thursday stated that the choice of which stores to close came “Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the company.” More…
By: 1812Blockhouse Staff; Richland Area Chamber & Economic Development
Across Ohio, business of almost all types are beginning to reopen with patron and guest safety in mind. With this relaunch, the traditional call to “shop local” takes on added significance.
Richland Area Chamber & Economic Development is making sure that Richland Countians are aware of businesses reopening. To that end, the month of June has been named Richland County STRONG month. More…
Economy, Featured, Public Health, Richland Area Chamber and Economic Development
By: 1812Blockhouse Staff
The numbers were expected, however seeing them in black and white is unsettling.
On Wednesday, unemployment rates for Ohio’s counties and metropolitan areas were released by the Ohio Department of Job and Family Services.
On May 24, we shared information about Ohio’s overall unemployment rate, which stood at 16.8%. Some 823,700 fewer Ohioans had non-agricultural positions in April than in the previous month. More…
By: Marty Schladen, Ohio Capital Journal
Ohio officials have been drawing tight the state’s budgetary belt as they see revenue plummet due to coronavirus shutdowns. But hidden in the carnage is a pot of money they’ll have to use as they plan for the fiscal year that starts July 1.
Earlier this month, with April tax revenues far below what was budgeted, Gov. Mike DeWine announced $775 million in spending cuts for the remaining months of the fiscal year — $465 million to education, $210 million to Medicaid, and the remaining $100 million in cuts to be spread across other state agencies. More…
By: 1812Blockhouse Staff; Ohio Department of Job and Family Services
Ohio’s unemployment rate was 16.8% in April, up from a revised 5.8% in March. Ohio’s nonagricultural wage and salary employment decreased 823,700 over the month, from a revised 5,539,100 in March to 4,715,400 in April. More…
By: 1812Blockhouse Staff
The website Industrial Info Resources is reported that a local mill will soon be reopening.
According to the article, which can be accessed here, AK Steel will restart operations at its Mansfield stainless steel mill.
In April, we shared news of a reported idling of the mill by owner Cleveland Cliffs due to decreased sales, which subsequently took place.
By: 1812Blockhouse Staff; Ohio Department of Job and Family Services
The economic slowdown continued to wreak havoc in Ohio during the week ending May 9 with an additional 51,125 Ohioans filing initial jobless claims, a report from the Ohio Department of Job and Family Services sharedthis week.
During the last two months, over 1.16 million claimants have filed in Ohio, and over $2.4 billion in unemployment checks have gone to almost 60,000 people. In typical years, the number of filings is a third of that amount. More…
By: 1812Blockhouse Staff
Reuters and other sources reported over the weekend that JCPenney is planning to declare bankruptcy and is considering closing 200 of its stores.
According to the Reuters article, which can be accessed here, the current woes of the retailer are tied to the coronavirus pandemic, although there were operating concerns before that.
JC Penney traces its origins back to 1902, when James Cash Penney opened his first store in Kemmerer, Wyoming. More…
