Biz briefs 11/27
Published 12:00 am Sunday, November 27, 2016
STATESVILLE – In an organizational meeting on Oct. 26, the Carolina Farm Credit Board of Directors re-elected L. Kim Starnes as chairman. W. Rex Bell was re-elected to serve as vice-chairman.
L. Kim Starnes, of Salisbury, is a full time farmer whose operation consists of row crops, beef cattle and poultry. Starnes has been a member of the Carolina Farm Credit board for eight years and currently serves as vice-chairman. He is a member of the Rowan County Cattlemen’s Association where he currently serves as president, Rowan County Ag Advisory Board, North Carolina Angus Association and Miller Ferry Volunteer Fire Department, where he serves as secretary and treasurer.
He is also an active member at Trading Ford Baptist Church where he serves as a deacon and Sunday school teacher, and is a member of the North Carolina Cattlemen’s Association and Gideon’s International.
W. Rex Bell, of Statesville, is a full time farmer whose operation consists of corn, soybeans, hay and wheat. He has been a member of the Carolina Farm Credit board for eight years. Bell is a graduate of North Carolina State University where he received his bachelor of science in animal science. Bell is an active member of Oakdale Baptist Church where he serves as a deacon and Sunday school teacher.
Popup shop open on Sundays on South Fulton Street
A popup shop in the South Fulton community is giving vendors more opportunities to sell their merchandise.
From 2 to 6 p.m., Bright Ideas Popup Shops will be open at 10thread, at 1024 S. Fulton St., on Sundays. Different small business owners set up their stations for a nominal fee and sell items that they might usually sell online.
Cyndi Reinhardt, owner of Bright Ideas, said she came up with the idea with Downtown Salisbury, Inc. Executive Director Paula Bohland. She thought it might be a good way to promote her new businesses, a training and consulting firm.
Reinhardt lives in Asheboro but she said 10thread provided the perfect location.
While many downtown shops are closed on Sunday, shops on South Fulton Street are open. Reinhardt said last Sunday was the popup shop’s first Sunday and there was a lot of foot traffic.
“(The vendors) all made money on Sunday. It was very cool,” she said.
Reinhardt said the vendors sell things you might find from vendors at festivals, including essential oils from doTerra, zombie crafts from L & M Zombie Crafts and jewelry from Vintage Way Designs. There may even be pastries and coffee from Mean Mug at the shop.
A popup shop is great for vendors because they do not have to worry about the costs of opening a retail space.
They can just set up, sell and leave, Reinhardt said.
Small businesses who sell services are also welcome to join the popup shop on Sundays to give out information.
Reinhardt said the popup shop is a great way to help connect small businesses with the community.
The popup shop will be open 2-6 p.m. every Sunday until Jan. 8.
Gildan Activewear submits proposal for American Apparel
Gildan Activewear has announced its intention to buy the worldwide intellectual property rights and certain assets from American Apparel, a fashion manufacturer, for about $66 million.
In a press release, Gildan said it will also buy American Apparel’s inventory so that the supply of goods in the printwear channel is not interrupted while Gildan adds the brand to its own printwear business.
Gildan won’t be buying any retail store assets.
American Apparel filed for Chapter 11 bankruptcy protection on Nov. 14. If the bankruptcy court requires American Apparel to auction off its assets and business, Gildan stated that the proposal would then be considered an initial bid.
If Gildan does not win the auction, it would receive a break-up fee and certain expense reimbursements.
“The acquisition will create revenue growth opportunities by leveraging Gildan’s extensive distribution network in North American and international printwear markets to further increase the brand’s penetration in the faster growing fashion basics segments of these markets,” Gildan stated in the press release.
The transaction is expected to be completed during the first quarter of 2017.