St. Patrick's Day bash to be the last for Bellevue Jake O'Shaughnessy's
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"It's time to pour the last shot and dance the last jig," Jake's owner Mick McHugh said yesterday, adding that he is closing the popular Irish restaurant and pub for personal reasons.
He said the 300-seat restaurant was profitable and did $3 million in sales last year. "I'm not retiring, just taking a breath."
McHugh said he will still operate his three other restaurants: F.X. McRory's in Pioneer Square, Leschi Lake Café on Lake Washington and T.S. McHugh's in the Lower Queen Anne neighborhood. The 60 employees at Jake's have been offered jobs at McRory's and Leschi Lake.
Bellevue Square owner Kemper Freeman Jr. said yesterday a restaurant will move into the vacated space, but he couldn't yet disclose which one.
Spiegel to close 25Eddie Bauer stores
DOWNERS GROVE, Ill. - The Spiegel Group plans to close 25 Eddie Bauer stores this year as well as open 10 new stores with merchandise that extends beyond the retailer's traditional casual, rugged style.
The Downers Grove-based company has not announced which stores will be closed, but spokeswoman Debbie Koopman said they are stores whose leases expire this year. The company wouldn't say whether any are in the Seattle area. Koopman did not know how many employees would be affected.
"We are using this opportunity (expiring leases) to close some underperforming stores," she said.
The closings, along with the new stores, will bring the number of Eddie Bauer stores to 451 nationwide by the end of the year, excluding outlets.
Curtain closes forCity Centre Cinemas
SEATTLE - Downtown Seattle has one less movie theater as of yesterday. The City Centre Cinemas has closed, while its parent company, Loews Cineplex Entertainment, has filed for Chapter 11 bankruptcy protection.
After a dozen years operating in the U.S. Bank Center at Sixth Avenue and Union Street, the two-screen City Centre quietly shut down Thursday night. Bentall U.S., owner of the U.S. Bank Center in which City Centre Cinemas was a tenant, wasn't notified of the closure until late Thursday. The landlord is already in talks with other prospective tenants, including other unidentified theater chains.
Loews still runs 11 theaters - with 76 screens - in the Seattle area: Meridian 16, Uptown, Oak Tree, Northgate, Lewis and Clark, Factoria, Woodinville, Redmond Town Center, Southcenter, Kirkland Park Place, and Grand Cinemas, Lynnwood.
Boeing Capital to sell debt securities
WASHINGTON - Boeing Capital filed with the Securities and Exchange Commission (SEC) to sell as much as $5 billion of debt securities.
The Renton company, a unit of Boeing, will use the proceeds to fund acquisitions and purchase equipment for leases and to make loans, according to a shelf registration filed with the SEC.
Boeing Capital may also devote some of the money to general corporate purposes, including debt reduction.
The shelf filing lets Boeing Capital register the debt securities in advance and sell them when financing needs arise. The terms of the securities are available at the time of sale.
Energy crisis takes toll on mill
SEATTLE - Ponderay Newsprint in Usk, near Spokane, is feeling the effects of the dry winter and low-flowing rivers.
"We are going to slow down operations," said Perry Pearman, the company's human-resource facilitator.
Due to the energy crisis, the mill is conserving power by running only one of its two refining lines that produce pulp. It also will be operating machines at a slower pace.
The mill will purchase additional fiber from outside sources to supplement its pulp supply.
Ponderay is asking its customers to make their orders 10 days earlier than before.