New owner of Allens selects Kiser as CEO
Chris Kiser has been appointed the new chief executive officer of Allens Inc. - the Siloam Springs company that declared bankruptcy in October and was recently purchased by Sager Creek Acquisition Corp.
Kiser has 26 years of experience in the food and consumer good industry working for companies including Campbell Soup Co., Diageo and Pinnacle Foods, according to a news release Monday.
Sager Creek Acquisition Corp., owned by investment funds controlled or advised by two of Allens’ creditors - Sankaty Advisors LLC and GB Credit Partners LLC - bought the company in February with a bid of $123.8 million.
In late October, Allens filed for Chapter 11 protection in U.S. Bankruptcy Court for the Western District of Arkansas. Court filings show that Allens owes its primary lenders $114.36 million and its secondary lenders $65.6 million.. - John Magsam
Wal-Mart starts blog to talk to customers
Shareholders, employees or even casual observers of Wal-Mart Stores Inc. may now communicate with representatives of the world’s largest retailer on a blog that was scheduled to go live on Wal-Mart’s corporate website, www.corporate.walmart.com, at 6 p.m. Monday.
The blog, more than a year in the works, is similar to Wal-Mart’s Green Room blog, said Chad Mitchell, senior director of digital communications for Wal-Mart.
The new corporate forum is the first to allow conversations with company officials, he said.
Topics will include the Wal-Mart Foundation and other charitable endeavors and health and fitness.
The forum will be operated out of Wal-Mart’s home office in Bentonville. Content will be moderated, as are many corporate blogs, Mitchell said.
- Cyd King
Arkansas Index falls 1.79 to end 323.77
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 1.79 to 323.77 Monday.
“Stocks retreated as positive economic data was overshadowed by concerns of a potential military conflict in Europe after Russia seized control over the Ukrainian peninsula Crimea,” said Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
Shares of P.A.M. Transportation rose 1.8 percent with America’s Car-Mart, Simmons First and Acxiom all closing with gains, Williams said.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 19 on 03/04/2014