Business news 2020

[Rewind]

Arby's Restuarant Group was renamed Inspire Brands in 2018 after the company took ownership of Buffalo Wild Wings and Rusty Taco. Inspire Brands owns more than 11,200 restaurants worldwide. This deal will add almost 21,000 more.

Dunkin' Brands to go private in $8.76 billion deal by Arby's owner
Reuters, Oct 30 2020 7:09 PM

Inspire Brands will buy Dunkin' Brands Group for $8.76 billion, the two companies said late today. Inspire Brands, which owns Arby’s, Buffalo Wild Wings and Sonic Drive-In, said its all-cash deal to take the owner of Dunkin' Donuts and Baskin-Robbins chains private would value it at $106.50 a share. Including debt, the deal is valued at about $11.3 billion.

https://www.reuters.com/article/us-d...-idUSKBN27G00D

[Rewind]

Brothers Curtis and Prestley Blake opened the Friendly Ice Cream shop in 1935 in Springfield, Massachusetts. In 1940, they began selling food and adding more locations. At its peak, the Friendly's Restaurant chain had more than 500 restaurants. Today there are 130. Most will remain open despite the bankruptcy and sale.

Friendly’s Restaurants' parent files for bankruptcy, announces $2 million sale

https://www.cnbc.com/2020/11/02/frie...nces-sale.html

[Rewind]

Jeff Bezos founded Amazon in 1994 in Bellevue, Washington. Amazon initially sold only books and now also sells clothing, toys, games, electronics, music, movies, jewelry, sporting goods, musical instruments, tools, groceries.....and, as of today, prescription drugs.

Amazon launches online pharmacy in new contest with drug retail
Reuters, Nov 17 2020 3:06 AM

Amazon today launched an online pharmacy for delivering prescription medications in the United States, increasing competition with drug retailers such as Walgreens, CVS Health and Walmart. Called Amazon Pharmacy, the new store lets customers price-compare as they buy drugs on the company's website or app. Shoppers can toggle at checkout between their co-pay and a non-insurance option, heavily discounted for members of its loyalty club Prime.

https://www.reuters.com/article/us-a...KBN27X170?il=0

[Rewind]

Guitar Center, originally Organ Center, was founded in 1959 in Hollywood and now has 269 locations, including 40 in California, 34 in Texas and 20 in Florida.

Guitar Center is filing for Chapter 11 bankruptcy

https://www.cnn.com/2020/11/22/inves...tcy/index.html

[Rewind]

Richard Simon and Max Lincoln Schuster founded Simon & Schuster in 1924 in New York City. Among the publishing company's many imprints are Pocket Books, Howard Books, Gallery Books, Scout Press, Saga Press and Scribner.

Penguin Random House to buy Simon & Schuster
ViacomCBS agreed to sell the 96-year-old company in a deal that potentially creates a megapublisher.

https://www.nytimes.com/2020/11/25/b...dom-house.html

[Rewind]

Amazon CEO Jeff Bezos and Walmart.com CEO Marc Lore have reason to be happy despite – or, more accurately, because of – the COVID-19 pandemic.

Holiday retail sales rise 3% as online shopping booms: Mastercard report

https://www.reuters.com/article/usa-...-idUSKBN2900BK