Rite Aid said yesterday it is filing for Chapter 11 bankruptcy for the second time in two years. While the pharmacy chain emerged as a smaller, leaner company after its last trip through bankruptcy court, it is bracing this time for a sale. “While we have continued to face financial challenges, intensified by the rapidly evolving […]
Pennsylvania’s economy has been shaken by the rise of manufacturing in China and a shift in the U.S. population to the South and Southwest. But there are still levers the state can pull to boost its fortunes, and that’s where the focus is for Luke Bernstein, president and CEO of the Pennsylvania Chamber of Business […]
One of the capital region’s oldest and largest factories will be closing indefinitely this summer due to weak demand for its products, which include steel rails for trains, cranes and trolleys. Ohio-based steelmaker Cleveland-Cliffs said Friday it plans by June 30 to wind down production at its plant in Steelton, along with plants in Conshohocken and Riverdale, […]
WellSpan Health and Inch & Co. reached a settlement in a lawsuit filed last week by WellSpan over a proposed sports complex on which they have been partnering, according to a WellSpan spokesperson and an Inch & Co. executive. The settlement includes transferring ownership of the sports complex site to WellSpan, according to health system spokesperson Ryan Coyle. […]
Cynthia Helms has been hired as a controller for the Investment Real Estate Group of Companies. Helms has over 20 years of financial leadership expertise in real estate and fund accounting, including senior-level positions at several companies. At Investment Real Estate, she will lead a team of six accounting professionals and enhance analytical frameworks in […]
Saxton & Stump has recruited two high-profile litigators from Philadelphia-based Kleinbard, Shohin Vance and Joshua Voss. They are joining Saxton & Stump as shareholders in the Lancaster-based law firm’s commercial litigation, appellate and post-trial advocacy, and regulatory and government relations groups. Vance will be based in the firm’s Malvern office, while Voss will work out of […]
Citing federal pullbacks in the area of consumer protection, the Shapiro administation yesterday unveiled a new hotline, website and email address for complaining about banks, insurers, student lenders and other financial services providers. State residents can now call 1-866-PACOMPLAINT, visit pa.gov/consumer or email [email protected] to report their concerns. Pennsylvania has its own set of laws designed to […]
Utilities serving large swaths of Central Pennsylvania are putting a price tag on the impact of rising costs for electricity. PPL Electric Utilities announced yesterday that its residential and small-business customers will see a nearly 16% increase in the cost of electricity starting June 1. For FirstEnergy subsidiary Met Ed, the price is slated to climb 8%, according to […]
Brian Palmer has been named a tax manager in the Lancaster office of accountig and professional services firm Brown Plus. Brian was previouysly associate vice president of hinance at a higher education technology consulting firm. He was also a tax manager at a national accounting firm, where he advised clients across various industries on federal […]
An entity affiliated with developer Joe Deerin of Deerin Cos. in Manheim Township paid $4.9 million for Stumpf Field, a longtime baseball field at 1350 Fruitville Pike near the city, according to county deed records. The seller, Jeff Sweigart, was represented in the transaction by Daniel Berger and Daniel Berger Jr., associate brokers with Lancaster-based U.S. Commercial […]
A York County industrial property is changing hands and changing occupants. West Shore developer Drew Bobincheck paid $7 million for a tract at 3490-3510 Board Road in Manchester Township that includes a roughly 143,700-square foot building, according to county deed records. It also includes two small rental homes. The seller was an entity affiliated with Cardinal […]
Rick Long is retiring effective June 1 as chief information officer at Harrisburg-based PSECU, where he started as a computer operator in 1984. Four decades later, the credit union is known for its digital-first approach to financial services. “Rick’s legacy at PSECU is defined not only by his decades of service, but by the culture of […]
Sunita Gupta Kramer has been named provost and dean of the faculty at Franklin & Marshall College effective July 1. A 1992 graduate of the Lancaster college, Kramer succeeds Mary Osirim, interim provost since January 2023. Osirim replaced Cameron Wesson, who left for a job at La Salle University. Kramer is currently dean of the […]
A state authority is awarding $2 million to a new venture capital fund that aims to sink the money into Pennsylvania’s life sciences sector, an area that state officials have targeted for growth. The fund is Neovate Life Sciences GP 1 LLC, launched by Neovate Capital Partners, which has offices in Pittsburgh, London, Boulder, Colorado, and New […]
The Lancaster City Revitalization & Improvement Zone Authority is putting together an offer to buy a former meat processing plant at 652 Manor St. and related office building at 655 Manor, according to Jeremy Young, the authority’s acting managing director. The properties were home to Kunzler & Company but closed last year after the company was acquired by […]
A federal agency restored funding for organizations that assist small and midsized manufacturers in 10 states. The Trump administration ended contracts with the organizations at the end of March but decided to restore their funding for the remainder of the current fiscal year, which ends Sept. 30, according to a spokesperson for the National Institute […]
More changes are coming to the region’s largest engineering firm. Gannett Fleming TranSystems relocated its West Shore headquarters this year. Now, the firm is getting a new name and a new CEO, the first leader from outside the company. The new moniker is GFT. The new CEO is Mike Orth. He succeeds Bob Scaer, who retired in […]
Brian Spiegel has joined McNees Wallace & Nurick as the law firm’s director of talent acquisition. A former commercial litigator, Spiegel brings nearly a decade of recruiting experience from talent acquisition roles at national firms. “Brian’s unique background, combining both legal practice and recruitment experience, makes him an exceptional fit for this role,” Jenna Wagner, […]