Borders Group Ñ the parent company of Borders Books and Music, which has a store in Davis Commons, and Waldenbooks Ñ has made some management changes at the same time it reported a double-digit decline in holiday sales.
Several news sources have reported in recent months that the company is teetering near bankruptcy.
Borders announced this month in a news release that it appointed a new chiefexecutive officer, Ron Marshall, Òto more aggressively drive a turnaround of the company within todayÕs challenging economy.Ó
Marshall, 54, replaces George Jones, CEO sinceJuly 2006.
ÒBorders is a powerful brand with millions of loyal customers who love to shop in the stores,Ó Marshall said. ÒThese are tremendousassets that can be built upon once the balance sheet is strengthened and the company is on more solid financial footing. IÕve led turnarounds at other retail organizations and look forward to leading a new management team at Borders to drive profitability and help ensure lasting success for this great name in retail.Ó
The companyÕs salesresults for the nine-week holiday period ending Jan. 3 showed an 11.7 percentdecline compared to the same period last year.
In another blow, Borders Group was notified Dec. 31 by the New York StockExchange that the company does not satisfy one of its standards for continuation of the companyÕs common stock, a company newsrelease stated. The stockremains listed on the NYSE as ÒBGP,Ó but the NYSEassigned a Ò.BCÓ indicator to the symbol to denote it isbelow standards.
A mattress store will soon take over the retail space at 706 Second St. that was the longtime home to Carousel Stationery. Landlord Patti Sparks said the transition will take place Feb. 1. Sleep Center owners hope to open the store by Feb. 15.
The company, owned by brothers Sanjay and Ramesh Prakash, has a store on Hume Way in Vacaville, and an outlet on Dwight Road in Elk Grove. A fourth store is set to open in March on Cal Expo Boulevard in Sacramento, near Costco, Ramesh Prakash said Friday.
Workers are painting the walls and putting in carpet this month to prepare for the new tenant.
Ramesh Prakash said he previously was a partner in the other downtown mattress store when it was called Sit, Sleep & More. Today, the business is called Davis Mattress & Futon Outlet.
The Vacaville Sleep Center carries Serta, Tempurpedic, Aireloom, Magniflex and Englander brands, according to its Web site, http://mattresscenter.net.
SparksÕ parents, Roy and Edith Kanoff, were the original owners of Carousel Stationery and its building. The business, but not the property, changed hands twice before it closed in November. Sparks and her husband Ralph own and operate Davis Home Trends.
Tarin Varughese and Noriko Abenojar have started a business to help children with autism and other special needs. Socially Speaking opened last month at 617 G St., Suite IA, across from the Davis Food Co-op.
According to its Web site, the business helps children from infants to teens. It offers play and socialization groups, and individual therapy for speech, language development and sensory integration issues. The owners work with parents, teachers and pediatricians to improve a childÕs communication and social skills.
ÒFamilies are excited that they donÕt have to travel outside of DavisÓ to get these services, Varughese said.
Varughese is a speech-language pathologist and Abenojar is a school social worker. Both have masterÕs degrees. They are looking to add an occupational therapist and a physical therapist. For more information, call (530) 231-5475 or go to http://www.sociallyspeakingdavis.com.
The medical equipment and supply company, DuraMed, opened Tuesday at 760 Fifth St.
The store, owned byAngelo Oliva, is in the Roe Building at Fifth and G streets. Its hours are 9 a.m. to 6 p.m. weekdays and 10 a.m. to 3 p.m. Saturdays. Phone: (530) 759-2474.
DuraMed caters to the elderly and disabled, selling nonprescription items like canes and walkers, offering custom fittings that arenÕt available at local drug stores. It also will have free delivery, and can bill directly to Medicare.
A new downtown Woodland restaurant may open as early as next month in the historic Capital Hotel building.
Capital Saloon & Grill will fill the ground floor of the 140-year-old building at First and Main streets, next to City Hall. The second floor will feature office space and the top floor will have five residential lofts with windows overlooking Main Street. The second and third floors are scheduled to be complete this spring.
The building is part of a downtown Woodland redevelopment project that city officials are excited about, said Cynthia Shallit, redevelopment and housing manager.
ÒWe think this will be areal spark, re-energizing the area,Ó Shallit said Friday. It will bring more pedestrians and customers to the downtown on evenings and weekends. She praised developer Tim Mullikin, president ofPilot Properties, for preserving the historic aspects of the building.
The restaurant will be a classic American steakhouse, with comfort good and grilled fare, Mullikin said. The building is owned by the development company. The restaurantÕs proprietors are Frank and Suzette Stephenson, who have owned BoarÕs Breath Restaurant & Bar in Middleton for 14 years.
They plan to move to Woodland and manage their Lake County restaurant from there.
Ñ Wendy Weitzel is a Davis resident. Her column runs occasionally on Sundays, but her Comings &Goings blog at http://www.davisenterprise.com is frequently updated. If you know about a business coming or going in the area, contact her at [email protected]