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Iconic North Carolina Based Department Store Is Restructuring and Saving Jobs

Author Catherine Lane
(Photo by Royce DeGrie/Getty Images)

When I saw the headline about Belk, my stomach dropped. We cannot lose this local institution. But this iconic North Carolina based department store is actually restructuring. The goal is better financial health and saving jobs.

Iconic North Carolina Based Department Store Is Restructuring

According to the Charlotte Observer, Belk is cutting debt by almost a billion dollars. The restructuring of finances was announced in a press release this week. It also includes news of securing $485 million in new financing. It’s all part of a strategy to “strengthen it’s financial standing”.

This Is A Good Thing

Don Hendricks is the CEO of Belk. And he reveals this is a “pivotal milestone for the company’s sustainable, long term growth and profitability”. Belk revealed in the news release published in the Charlotte Observer,”The privately-owned department store’s “deleveraging transaction” is with the company’s first and second lien lenders, including private equity firms KKR and Hein Park, and private equity owner Sycamore Partners.”

Thousands Of Jobs Will Be Saved

Ok but what does all this mean for you and me? Well, for one thing this is going to save thousands of jobs. And in a world where it seems like large corporations keep laying off people and eliminating positions, this is very good news. You can find a Belk in 16 southern states and has almost 300 stores. Belk employs around 20,000 people.

Iconic North Carolina Department Store
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Belk was once the biggest family owned department store chain in the United States. Three generations of the Belk family led the way. In 2015, the family sold Belk to Sycamore for 3 billion dollars. And who can blame them. I have fond memories of going to our local Belk when I was growing up in Shelby. Going to Belk was once a joy and it felt special. I would love to have that feeling again. I’m pulling for you Belk. I hope this new restructuring plan helps restore you to the department store I remember.

Catherine Lane is the morning show co-host and midday host on Country 1037 in Charlotte, North Carolina. She has been with the station for the past 24 years and is a recipient of the Academy of Country Music Major Market Personality of the Year award. Catherine has been on air in both radio and television in the Queen City for 38 years. As a content creator for Country 1037, Catherine writes blogs on local events and restaurants. She also writes about great travel spots and out of the way places in the Carolinas. Anything outdoors, travel, food, animals or the many country artists from the Carolinas.

These 37 North Carolina Stores Were Fined For Overcharging Customers

With prices skyrocketing around us it can seem like what you are being charged is incorrect. I have no idea how that grocery bill adds up as quick as it does, and for nothing, it seems. And while most of the time it’s just the prices, they could be overcharging you. Every year the North Carolina state government audits stores to make sure they are charging consumers the correct listed prices and not overcharging. This year the NC Department of Agriculture and Consumer Services collected fines from 37 stores in 22 counties due to excessive price-scanner errors.

This is monitored by the state Department of Agriculture and Consumer Services in an attempt to keep stores honest. They believe many of the issues come from a lack of staff making it harder for stores to keep up. This essentially means that when rung up prices are showing higher than what they are marked on the shelves.

If you are shopping and realize an item rings up for a different price than advertised make sure to bring it to the attention of a manager. If you’d like to report a store for violations call 984-236-4750. Stores can be issued fines even if what they are doing isn’t breaking the law.

You can read more details about how these fines are issues and specific violations of individual stores on the NC Department of Agriculture and Consumers Services website. Keep reading to see which North Carolina stores have been charged fines for overcharging customers.

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