Retail Roundup—Toys R Us gets $3B in funding; Lord & Taylor sells flagship

Lord & Taylor dress shop
Lord & Taylor has sold its New York flagship.

Toys R Us receives $3B in debtor financing

The U.S. Bankruptcy Court has authorized more than $3 billion in debtor-in-possession financing for struggling Toys R Us. The court also granted the support needed to pay employee wages, support customer programs and pay foreign vendors under normal terms. (Release)

Kroger makes more executive changes

Kroger's executive vice president of retail operations, Fred Morganthall, will retire after 31 years. Mike Donnelly, Kroger's executive vice president of merchandising, will assume responsibility as executive vice president and COO, combining his leadership skills in merchandising and operations. (Supermarket News)

Lord & Taylor sells flagship

Lord & Taylor's flagship store on Fifth Avenue in New York City is being sold to tech company WeWork, which plans to convert the building into its headquarters. Hudson's Bay, the owner of the retailer, is selling the century-old flagship for $850 million. (New York Post)

Amazon Business launches prime shipping

Amazon Business has rolled out Business Prime Shipping, a membership program for business customers in the U.S. and Germany. In the U.S., Business Prime Shipping will offer unlimited free two-day shipping on certain items for anyone with an Amazon Business Account. (Release)

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