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Jos. A. Bank buying Eddie Bauer in $850M deal

Jos. A. Bank buying Eddie Bauer in $850M deal

HAMPSTEAD, Md. -- Jos. A. Bank Clothiers Inc. is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $850 million.

The men's clothing company, which itself is being pursued by Men's Wearhouse Inc., made the deal with Everest Topco LLC to buy Everest Holdings LLC, Eddie Bauer's parent company.

Jos. A. Bank said Friday that the transaction includes $564 million in cash and about 4.7 million new shares of Jos. A. Bank stock issued to Everest Topco at $56 per share.

Everest Topco may also earn up to an additional $50 million in cash based on Eddie Bauer's adjusted earnings for fiscal 2014.

Jos. A. Bank may end the deal if it receives an acquisition offer for its company that it feels is superior.

Spanx CEO steps down

ATLANTA -- Spanx Inc.'s chief executive officer, Laurie Ann Goldman, is leaving the shapewear empire. Might the appointment of a footwear expert as interim CEO signal an expansion into shoes?

Spanx founder Sara Blakely announced earlier this week that Goldman will leave the company. Goldman, who joined Spanx in 2002 when the hosiery company was just two years old, used the skills she picked up during 10 years with Atlanta-based The Coca-Cola Co. to help grow the company from five employees to a shapewear giant. Goldman was a licensing executive at Coke.

Goldman's unexpected departure raises questions about an eventual IPO or differing strategies between her, Blakely and the board, Fortune reports. The appointment of Gregg Ribatt as interim chief executive officer raises questions about whether Spanx is eyeing an expansion, Fortune says.

In October, Blakely told Fortune her dream is to create the world's most comfortable high-heels hoe and then retire.

Tin Lizzy's could double its number of locations

ATLANTA -- Atlanta-based Tin Lizzy's Cantina is in a growth spurt.

The chain of "Flex-Mex" taquerias looks to more than double its number of locations over the next two years, according to Chief Operating Officer Tory Bartlett.

Tin Lizzy's today has six locations: Buckhead, Midtown, Grant Park, Perimeter, Emory Point and Mall of Georgia.

But, it wants to grow to 15 locations by the end of 2016.

That could bring the brand to new markets, such as Augusta, Ga. or Charleston, S.C. The company hopes to open its first restaurant outside of metro Atlanta in 2015.

"We want to grow the brand through the Southeast," said Bartlett, who was brought on late last year to aid Tin Lizzy's growth. He previously worked for Hooters of America LLC. In his 20-year tenure, he worked his way from dishwasher to director of operations, opening more than 120 Hooters locations.

Aaron's Inc. gets $2.3B buyout offer

ATLANTA -- Atlanta rent-to-own giant Aaron's Inc. has gotten a $2.3 billion buyout offer from a Florida investment firm.

Orlando, Fla.-based Vintage Capital Management Inc. reported Friday it's offered to buy Aaron's for $30.50 a share. Aaron's shares closed Feb. 6 at $27.05 and jumped in trading Friday to $28.32.

The bid comes as Aaron's reported that its annual profit fell 30 percent in 2013. The company operates 2,150 stores. On Jan. 13, the company had warned that its financial performance wasn't meeting expectations.

RadioShack to close 500 stores

(ATLANTA BUSINESS CHRONICLE) -- RadioShack scored big points with its comedic 1980s-themed Super Bowl ad that poked fun at the retailer's outdated image, but the mood was more somber on Tuesday when news broke that around 500 stores will close in the coming months.

WATCH | RadioShack Super Bowl ad

The Wall Street Journal says it isn't clear which of the Fort Worth, Texas-based company's 4,300 stores will be closed or when.

The closings are part of a restructuring. Says the WSJ, "The retailer has struggled to reverse a string of losses deepened by a sales strategy focused around smartphones, which failed to improve revenue over the past two years."

Michael Merlin named to 'On Wall Street' magazine's Top Advisors Under 40

ATLANTA -- Morgan Stanley (NYSE: MS) today announced that Michael Merlin, an Executive Director, Financial Advisor in the Firm’s wealth management office in Atlanta, GA, has been named to On Wall Street Magazine’s 2013 listing of “Top 40 Advisors Under 40.”

This listing is a select group of individuals who are 39 years of age or younger, as of December 31, 2013. Individuals are recognized based on their trailing 12-month production (T-12) and assets under management (AUM) as of September 30, 2013. This listing also takes into consideration the overall business mix of practices and adherence to high standards of industry regulatory compliance. Investment performance is not a criterion.

“To be named to this annual listing is an impressive honor, and we are extremely proud to have Michael represent Morgan Stanley on this list,” commented Michael Outlaw, Branch Manager of Morgan Stanley’s Buckhead Wealth Management office.

3 Atlanta Chinese restaurants among most popular in US

3 Atlanta Chinese restaurants among most popular in US

ATLANTA -- Urbanspoon's new list of America's Most Popular Chinese Restaurants includes three Atlanta-area businesses.

The list features more than 50 of the most reviewed Chinese and Asian fusion restaurants. Selections are based on consumer activity, reviews and editorial picks.

Atlanta restaurants on the list are:

* Izumi Asian Bistro, 2035 Towne Lake Parkway #150, Woodstock
* Little Bangkok, 2225 Cheshire Bridge Road NE, Atlanta
* Fortune Cookie, 2480 Briarcliff Road NE, Atlanta

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