Business Timeline

McDonald’s Is Planning To Close Hundreds Of Restaurants

McDonald's In Serious Trouble

McDonald’s Corp. plans to close hundreds of U.S. restaurants. For the first time in more than 45 years, the world’s biggest hamburger chain plans to close more stores than it opens. According to a review of Security and Exchange Commission filings by McDonald’s, the Associated Press revealed the fast-food restaurant giant has not closed more… Read more »

Selling Fading Empire: Martha Stewart’s Company Is Nearing Its End

PASADENA, CA - DECEMBER 17:  Martha Stewart attends a holiday book signing for her new book "Martha Stewart's Cakes" at Macy's on December 17, 2013 in Pasadena, California.  (Photo by Jason Kempin/Getty Images)

Martha Stewart and her company were icons in the home department. From deals with Kmart to Macy’s and even giving some houses her own touch, Martha Stewart has always been a homemaker. However, her empire is slowing fading. Thus, Martha Stewart is selling her once vast empire. Martha Stewart Living Omnimedia is on the verge… Read more »

Gap Closing 175 Stores, Laying Off 250 Corporate Employees

Gap Closing 175 Stores

Gap is in the process of closing 175 stores nationwide in an effort to remake its image. In addition to the store closures, Gap will also be laying off 250 employees at its corporate headquarters in San Francisco, California. According to the CNNMoney, this move will not affect any of the company’s 300 outlet stores,… Read more »

Colt – Legendary Gun Maker Files For Bankruptcy

Colt Bankruptcy

Colt Defense LLC, the legendary American gun manufacturer, announced yesterday that it is filing for Chapter 11 bankruptcy protection. Colt, a company that is as American as Coca-Cola, Levis, McDonald’s and Chevrolet, lost its contract with the U.S. Army for the Colt M4 two years ago. This isn’t the first time that Colt has filed… Read more »

Glade Releases Product-Specific Fragrance Ingredients

Glade Air Freshener

On Monday, SC Johnson revealed the product-specific ingredients used in manufacturing more than 200 Glade air fresheners, scented oils and candles on the company’s disclosure website, whatsinsidescjohnson.com. First launched in 2009, the disclosure site for the global manufacturer of household cleaning supplies and other consumer chemicals has been expanded, making them the first major company… Read more »

IKEA Vows To Spend $1 Billion On Renewable Energy

IKEA To Invest In Renewable Energy

IKEA announced plans to spend more than $1.2 billion on renewable energy. The world’s largest furniture retailer also pledges to help poor nations cope with climate change. IKEA’s Chief Executive Officer, Peter Agnefjall, told Reuters the company plans to move toward their goal of using 100 percent clean energy by taking an active stance to… Read more »

K-Drama Star Kim Soo-hyun Leads Caffe Bene Worldwide To Destroy Starbucks

Kim Soo Hyun Caffe Bene

If people were to be asked what company they think of pertaining to coffee giants, they will most likely answer Starbucks. Established back in 1971 in Seattle, Washington, Starbucks has since grown to become the world’s largest coffeehouse company in the world. The Inquisitr over the years has reported on the latest pertaining to Starbucks,… Read more »

Warren Buffett No Longer World’s Second Richest Person

Both Ortega and Buffett trail Bill Gates, the world's richest man.

Investor Warren Buffett has fallen from his spot as the second richest man in the world and now ranks in third place, behind Amancio Ortega. Ortega is the Spanish fast-fashion baron behind Zara’s, according to Quartz, and he has amassed a net worth of $71.5 billion. This places him second on the list of the… Read more »