ThisIsRochester.com: Business and Industry

Shuttered Henrietta strip club torn down

April 3, 2019 -- The Klassy Cat Tavern, a Henrietta strip club shut down over back taxes in July 2018, has been torn down.

The West Henrietta Road business began operation in 1993. The single-story building was advertised for sale in 2016 shortly after the state filed a tax warrant for nearly $130,000 against one of the co-owners of the business.

A state judge signed off on the foreclosure in June 2018 and ordered the property to be auctioned off within 90 days.

Downtown grocer closing its doors

March 11, 2019 -- The owner of Hart's Local Grocers in Rochester's East End announced the store will cease operations before the end of the month.

Hart's opened in downtown in August 2014.

Glenn Kellogg, president of the business, said changes to streamline in late 2017 resulted in 2018 being Hart's most successful year. But a drop in business volume made it impractical to continue operating.

The company's statement said a search for new ownernship was unsuccessful.

Alleson Athletic announces plant will close

Feb. 26, 2019 -- All 129 employees at Alleson Athletic will lose their jobs when the Henrietta plant closes in June, the company disclosed in a filing with the New York State Department of Labor.

The plant on Brighton-Henrietta Town Line Road makes uniforms and other garments.

Windstream files for Chapter 11 bankruptcy protection

Feb. 25, 2019 -- Windstream Holdings Inc., also known as Windstream Communications, filed for Chapter 11 bankruptcy protection after a court sided with Aurelius Capital Management, which claimed the rural telecom company defaulted on its debt.

Shares in Windstream, which has about $5.8 billion of outstanding bonds and loans, fell as much as 32 percent before they were halted for pending news ahead of the company's disclosure.

A federal court ruled on Feb. 15 that the 2015 spinoff of Windstream's Uniti Group Inc. business violated its financial covenants. Aurelius, a hedge fund led by Mark Brodsky, argued the deal cheated bondholders because it stripped value from the assets backing their securities.

The decision gave Aurelius a $310 million judgment and entitles other creditors to demand immediate repayment on debts they hold.

Windstream, which has about 1.4 million consumers and small businesses in 18 states, arrived in Rochester in 2011 when the Arkansas-bases company acquired Paetec Holding Corp.

Kodak CEO Clarke annouces departure

Feb. 20, 2019 -- Eastman Kodak Co. announced that Jeff Clarke is stepping down after five years as chief executive officer and will be replaced by Jim Continenza, who has served as the board chairman since 2013.

Clarke said he met with the board and they mutually agreed that it was the appropriate time for a transition. Kodak said Clarke will be available to consult.

Phillippe Katz, recently appointed as a director of Kodak, will fill Clarke's seat on the board.

Continenza, 56, who succeeded Antonio Perez as board chair, said he wants to help Kodak build on "previously announced initiatives."

According to Kodak, Continenza is currently board chairman for Merrill Corp. and Sorenson Communications.

[ LOOK BACK AT OLDER STORIES ]

Business and Industry This is Rochester
Gov't \| Politics \| Crime \| Schools \| Higher Ed \| Business \| Sports \| Health care \| Media \| People \| Weather \| Food/drink \| Arts \| Misc.
	A summary of news about Greater Rochester business and industry
	More from early 2019 Shuttered Henrietta strip club torn down April 3, 2019 -- The Klassy Cat Tavern, a Henrietta strip club shut down over back taxes in July 2018, has been torn down. The West Henrietta Road business began operation in 1993. The single-story building was advertised for sale in 2016 shortly after the state filed a tax warrant for nearly $130,000 against one of the co-owners of the business. A state judge signed off on the foreclosure in June 2018 and ordered the property to be auctioned off within 90 days. Downtown grocer closing its doors March 11, 2019 -- The owner of Hart's Local Grocers in Rochester's East End announced the store will cease operations before the end of the month. Hart's opened in downtown in August 2014. Glenn Kellogg, president of the business, said changes to streamline in late 2017 resulted in 2018 being Hart's most successful year. But a drop in business volume made it impractical to continue operating. The company's statement said a search for new ownernship was unsuccessful. Alleson Athletic announces plant will close Feb. 26, 2019 -- All 129 employees at Alleson Athletic will lose their jobs when the Henrietta plant closes in June, the company disclosed in a filing with the New York State Department of Labor. The plant on Brighton-Henrietta Town Line Road makes uniforms and other garments. Windstream files for Chapter 11 bankruptcy protection Feb. 25, 2019 -- Windstream Holdings Inc., also known as Windstream Communications, filed for Chapter 11 bankruptcy protection after a court sided with Aurelius Capital Management, which claimed the rural telecom company defaulted on its debt. Shares in Windstream, which has about $5.8 billion of outstanding bonds and loans, fell as much as 32 percent before they were halted for pending news ahead of the company's disclosure. A federal court ruled on Feb. 15 that the 2015 spinoff of Windstream's Uniti Group Inc. business violated its financial covenants. Aurelius, a hedge fund led by Mark Brodsky, argued the deal cheated bondholders because it stripped value from the assets backing their securities. The decision gave Aurelius a $310 million judgment and entitles other creditors to demand immediate repayment on debts they hold. Windstream, which has about 1.4 million consumers and small businesses in 18 states, arrived in Rochester in 2011 when the Arkansas-bases company acquired Paetec Holding Corp. Kodak CEO Clarke annouces departure Feb. 20, 2019 -- Eastman Kodak Co. announced that Jeff Clarke is stepping down after five years as chief executive officer and will be replaced by Jim Continenza, who has served as the board chairman since 2013. Clarke said he met with the board and they mutually agreed that it was the appropriate time for a transition. Kodak said Clarke will be available to consult. Phillippe Katz, recently appointed as a director of Kodak, will fill Clarke's seat on the board. Continenza, 56, who succeeded Antonio Perez as board chair, said he wants to help Kodak build on "previously announced initiatives." According to Kodak, Continenza is currently board chairman for Merrill Corp. and Sorenson Communications. [ LOOK BACK AT OLDER STORIES ]