NEW YORK (AP) — Occasion Metropolis has filed for Chapter 11 chapter safety after battling rising costs and a pullback in buyer spending.
The corporate, primarily based in Woodcliff Lake, New Jersey, mentioned that its franchise shops, subsidiaries outdoors of the U.S. and its foil balloons Anagram enterprise aren’t a part of the restructuring and can stay core elements of its enterprise.
Occasion Metropolis Holdco Inc., mentioned its greater than 800 company-owned and franchise shops all through North America will stay open, and prospects can nonetheless store on the corporate web site.
Advertisement
The chain is planning an expedited restructuring that it mentioned would considerably decrease its debt and unencumber money.
The corporate has secured a dedication from the Advert Hoc Group for $150 million in debtor-in-possession financing. It mentioned the financing, which is topic to court docket approval, would supply ample money to proceed operations.
Shares rose greater than 10% earlier than the market opened Wednesday.
Occasion Metropolis for years has confronted elevated competitors from Walmart and Goal and that stress has intensified in an period of rising costs, together with for helium utilized in get together balloons, and slowing shopper demand.
Occasion Metropolis reported a quarterly losses widened in November when the corporate reported a 3.2% drop in comparable retailer gross sales. Total gross sales have been inside expectations, however on the decrease finish.
Advertisement
In December, the Securities and Trade Fee warned Occasion Metropolis that it was in danger for being delisted by the New York Inventory Trade for failing to take care of a mean $1 per share inventory worth over a 30-day interval.
Shares are at present hovering round 40 cents. The corporate went public in April 2015 at $17 a share, and traded as excessive as $22.60.
Occasion Metropolis expects the corporate restructuring to be accomplished within the second quarter.
Boston police are looking for a man they say inappropriately touched several students at a small high school near Copley Square.
Officers responded around 11:30 a.m. to the Snowden International School on Newbury Street in Back Bay after reports that the man had touched students as they were walking in and out of the building.
“That’s scary, that it’s happening right here,” one woman said.
According to a police report, the man had been seen in the area before, approaching two students. Documents state at one point, a student stated the man “touched his chest and asked, ‘Yo bro, do you work out?’”
Advertisement
Police said photos of the man were captured and sent out to other law enforcement officials.
The department said in a statement that it is “encouraging families to remind students about the importance of being aware of their surroundings and reporting any concerning behavior to their school.”
Boston Public Schools will have an increased Safety Services presence around the campus for the next few days.
Gregory Burnett, 53, allegedly said things like “you’re not a woman, you’re a man” during the attack and caused the victim to fracture her wrist.
A Boston man who allegedly assaulted a transgender woman at a Blue Line MBTA station on Halloween is facing charges of assault and violating the victim’s civil rights, officials said.
Gregory Burnett, 53, pleaded not guilty to assault and battery causing serious bodily injury, assault and battery, assault and battery with a dangerous weapon (his foot), and a civil rights violation with injury, Suffolk County District Attorney Kevin Hayden said.
Advertisement
The woman, 41, told police that another passenger boarded the train at Maverick, immediately approached her, and shouted “derogatory terms” at her, the DA said. Burnett allegedly said statements including “you’re not a woman, you’re a man.”
Burnett then punched and kicked her, including in the crotch area. The woman tried to defend herself, the DA said, but Burnett grabbed her foot and caused her to fall and fracture her wrist.
Other passengers helped the woman defend herself against Burnett and get him off the train, officials said.
The woman reported the incident to police the next day and said “she felt targeted due to her gender identity based on Burnett’s remarks during the assault,” the DA said.
MBTA police used witness descriptions and surveillance video to identify Burnett and apprehend him at Maverick last Tuesday, according to Hayden’s office.
Advertisement
Burnett was initially held in jail after being found dangerous in court, but was released last week on conditions to stay at home outside of work hours, according to court records. With a GPS, he is confined to his home outside of 7 a.m. to 3 p.m., Monday through Friday. He is also required to maintain employment, stay away from any witnesses, not commit any further offenses, and not possess any firearms.
Molly Farrar is a general assignment reporter for Boston.com, focusing on education, politics, crime, and more.
Boston.com Today
Sign up to receive the latest headlines in your inbox each morning.
Columnist Chad Finn dives into the details of how his new book, “The Boston Globe Story of the Celtics,” came together.
Last month, “The Boston Globe Story of the Celtics,” a comprehensive book of nearly every recorded moment in Celtics history, was released. The book’s editor Chad Finn, a sports columnist for The Boston Globe and Boston.com, collected hundreds of Celtics stories written by renowned sports reporters, such as Bob Ryan and Jackie MacMullan, since the team’s inception in 1946.
For Boston.com’s Book Club, Finn joined Boston.com sports writer Hayden Bird to discuss his process and insights in editing his book. Watch the full video, or read highlights of the discussion below.
Advertisement
Below is an abbreviated version of the discussion, which has been edited and condensed for clarity.
How did you approach creating this book?
With something like this, where it’s a compilation of the Globe‘s coverage of the Celtics throughout their mutual histories, the one thing you’re really wondering about is: Was everything covered?
I think it was a little bit more complicated, a little bit more reason to worry about it, with the Celtics book because of the race element with Bill Russell. Did they cover some of the stuff that players endured back then? Not being able to eat with their teammates when they would go to North Carolina for an exhibition game or something like that. So it was very satisfying, and also a bit of a relief, to find out that the Globe … had covered every single step, every single significant story along the way with the Celtics, from their launch in 1946 until putting out banner No. 18 a couple of weeks ago.
How daunting was the research process?
The first thing you have to do is sit down and make a thorough list of every significant thing chronologically that happened in Celtics history. Once you have that list of 450 different things that happened in Celtics lore, then you go into the archives and you say, “Do we have this?”
A lot of it is also our researcher, Jerry Manion, who’s just an absolute expert at finding what you’re looking for. I can’t tell you how many times in putting this book together where I would message Jerry and say, “Can you find that?” and I’d have it five minutes later. To be able to have that kind of support when you’re putting together a project that could be overwhelming is incredible. I’m incredibly grateful for that.
How did a game recap from 70-80 years ago compare to today?
The game stories and the stories from the coverage tended to be play by play, whereas nowadays, it’s a little bit of a look ahead, or a little bit of context on what you just saw, because you know about Jayson Tatum’s dunk and Jaylen Brown’s three-pointer that tied the game. Back then, that was news to you in the morning. You didn’t see it yourself.
Advertisement
What’s your favorite lead or passage?
One is Bob Ryan’s lead when they drafted Larry Bird. Red Auerbach took him while he still had a year left of college in Indiana State because back then there was a loophole … where you could draft a player if his college class had graduated.
Bob Ryan had seen Larry Bird play in person. He knew what Red had just pulled off, and his lead basically said Red didn’t just look like he swallowed the canary, it looked like he swallowed the whole aviary — perfect lead for Larry Bird. The whole column turned out to be prescient about how Larry’s career would go. I have some favorite stories in the book, but that one would be right up there in the top five just because of how he started it, how he wrote it, and how right he was.
What’s something you learned about the Celtics or the Globe’s coverage that stuck out to you?
I learned that the quality of writing really elevated in the late ‘60s. People took more chances with their writing.
In 1969, Leigh Montville got hired at the Globe, and I think if you asked every Globe columnist that has worked here the last 50 years, they would tell you Leigh Montville was the best columnist of all in terms of pure writing ability. He was lyrical, and he joined the beat covering the Celtics in Bill Russell’s last year.
There was another writer at the same time named Bob Sales. His style was very easy to read and thoughtful, and did not shy away from opinions that probably were considered pretty progressive at the time. He was very supportive of the Black players on the Celtics. I thought Bob Sales, even more than Leigh Montville because he came before him, was somebody who really changed the style of writing about the Celtics and the approach that people took to it.
Then a whole different topic, but Bob Ryan came around. He started the Globe the same day as [Peter] Gammons in 1968 as interns. When he took over the NBA beat in the early ‘70s, it changed everything.
Advertisement
Celtics history is so intertwined with integration in basketball. How did the Globe cover that at the time?
If there was an incident, or if they were not treated as equals — which happened a lot — to their white teammates, the Globe wrote about it. And I wasn’t sure going into the book if that was going to be the case, and it was.
There are still misconceptions about how the Celtics handled race, and a big part of that is because their team — that a certain generation remembers so well — is Bird, McHale, Danny Ainge. There was a perception: Oh yeah, Celtics, Boston, White. I mean they had the best white players, but it had nothing to do with race why they were here, and Celtics history tells you that.
Look at Celtics history, and Red just wanted to win. He didn’t care about the race or color of his players. He just wanted the best players, and that was well ahead of its time back then.
You lived through much of this history as a fan. How was looking at it different from the standpoint as editor of this book?
You get into the eighties, and Magic and Bird change the game in a bunch of different ways — saying they save the league really isn’t an exaggeration. To have grown up watching that, it was really cool to be able to get into that phase of the book where we are doing things that I remember and that I witnessed.
But it was the hardest chapter in the book to edit, and it’s by far the biggest chapter in the book, for two reasons. Obviously they accomplished a lot, and they won the three titles in that era, and there were so many memorable games, the Lakers and the rivalry, the Sixers, and later on the Pistons. And with a book like this, you can’t just put the championships in it. There were so many games that resonated with people along the way.
The other thing was the quality of the writing was mind-blowing. It was Bob Ryan at the peak of his powers; it was Dan Shaughnessy, Montville; Jackie MacMullan came along in the late ‘80s. So the hardest thing I had to do with this book was pick which story to use without being redundant when two or three of them wrote about the same subject. Which one do I use?
Advertisement
What does this book mean to you and your connection to the team?
I dedicated the book to my daughter who’s the biggest Celtics fan I know. I also dedicated to Bob Ryan, who is my writing hero.
I also think just writing about the family aspect of it — that’s become a really big thing with the Celtics themselves. I’ve never seen a team that was as connected and as willing to allow people around the players, their kids, their wives, to be as big a part of things as the 2024 Celtics were.
I think it bonded them together even more where they’ve developed this culture, where it’s just greater than what they have on the court.
What is your favorite memory of being a Celtics fan?
Kelly Chan
Content Producer
Kelly Chan is a content producer at Boston.com. She designs multimedia content on-site and across social media platforms, and experiments with new ways to engage readers.
Advertisement
📚 Stay up-to-date on the Book Club
Catch up on the latest Boston.com Book Club pick and join the virtual author discussions.