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Legal Sea Foods sale leaves vendors with piles of unpaid bills

Sale of Legal Sea Foods leaves vendors with piles of unpaid bills
There was only so much Roger Berkowitz could do for unsecured creditors in the December deal
By Larry Edelman Globe Columnist,Updated February 18, 2021, 9:40 a.m.
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The subject line was a grabber: âRoger Berkowitz and Legal Seafood [sic] deal stiffs creditors.â
The e-mail came from a sales rep for a supplier to Legal Sea Foods, the Boston restaurant chain that, you may remember, was sold in a pandemic fire sale in December.
âAfter selling to them for over 30 years I got this letter telling me that they are not going to pay me for the products they bought and used from September to December,â the sales rep wrote. âThey know that fighting it in court would cost me more than I would get back and the same goes for the 150 or so other people they stiffed.â ....

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Adidas is selling Reebok to focus on its own brand

By Hanna Ziady, CNN Business Adidas says it will offload struggling US fitness brand Reebok as part of a strategic overhaul. ....

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Robinhood CEO says claim hedge funds prompted company to stop GameStop trading a 'conspiracy theory'

Robinhood CEO denies conspiracy theory claims that hedge funds pressured him to halt GameStop trading and lock out Reddit traders as he insists he made right decision
Robinhood CEO Vlad Tenev on Friday called claims that hedge funds prompted his company to halt trading on GameStop a conspiracy theory
Our decision to temporarily restrict customers from buying certain securities had nothing to do with a market maker or a market participant, Tenev said
He claimed no one put pressure on the company or asked them to halt trading
It was entirely about market dynamics and clearinghouse deposit requirements, as per regulation, he added ....

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Robinhood restricts trading on FIFTY stocks including Starbucks and GM

Trading app Robinhood late on Friday restricted purchases of 50 different stocks
List included meme stock GameStop but also General Motors and Starbucks
It followed a wild week of trading fueled by anti-hedge fund Reddit insurgency
It became clear that Robinhood was under severe strain with its cash reserves
Company is required to place deposits with clearing houses to cover trades
Robinhood said Saturday its deposit requirements increased ten-fold this week
Company tapped credit lines for $600M and received $1B investor bailout ....

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The Sherwin-Williams Company Reports 2020 Year-end and Fourth Quarter Financial Results

Consolidated net sales for the year increased 2.6% to a record $18.36 billion and increased 9.1% in the quarter to a record $4.49 billion
Net sales from stores in U.S. and Canada open more than twelve calendar months increased 2.7% in the year and 9.3% in the quarter
Full year diluted net income per share increased 33.9% to $22.08 per share compared to $16.49 per share in full year 2019
Excluding the impact of acquisition-related amortization expense, diluted net income per share increased 16.4% to $24.58 per share in the full year versus $21.12 per share in full year 2019, excluding the impact of acquisition-related costs and other adjustments
Full year net operating cash increased ....

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