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Top Five May 2025
The top five most-read daily news stories on VirginiaBusiness.com from March 11 through April 11 included news of major layoffs from a federal contractor in Northern Virginia.
LS GreenLink breaks ground on $700M tallest structure in Virginia
LS GreenLink USA on Monday broke ground on the tallest structure in Virginia. Gov. Glenn Youngkin, Sen. Tim Kaine and several Chesapeake officials gathered at 1213 Victory Blvd. in Chesapeake to kickstart the construction of the company’s more than $680 million offshore wind subsea cable manufacturing facility, the first of its kind in the United States.
Dollar Tree names chief supply chain officer
Walgreens' former chief supply chain officer has started as Dollar Tree's chief supply chain officer effective Monday, the Chesapeake Fortune 500 discount retailer announced. Roxanne Weng succeeds Mike Kindy, who is retiring.
$30M Chesapeake Square Mall redevelopment underway
Demolition began last week on sections of Chesapeake Square Mall as part of a $30 million redevelopment project of the 36-year-old indoor mall off Interstate 664 in Chesapeake. Stores are still open at the mall while Virginia Beach-based real estate development firm Kotarides is demolishing the former Burlington Coat Factory Space and several former anchor […]
Dollar Tree plans to sell Family Dollar to private equity firms for $1B
Chesapeake-based Fortune 500 discount retailer Dollar Tree has reached a deal with Brigade Capital Management, a New York-based global asset management firm, and Macellum Capital Management, an investment firm with headquarters also in New York, to acquire its Family Dollar brand for about $1 billion after a decade of trying to make its acquisition of […]
Construction of Virginia’s tallest building slated for April
LS GreenLink USA will begin constructing the tallest structure in Virginia next month. During Old Dominion University’s Maritime and Offshore Wind Conference on Tuesday, LS GreenLink USA‘s managing director, Patrick Shim, revealed the company will break ground April 28 on its $680 million-plus offshore wind subsea cable manufacturing facility in Chesapeake, the first of its […]
Former Tyson Foods executive to become Dollar Tree CFO
Chesapeake-based Fortune 500 discount retailer Dollar Tree announced Wednesday that former Tyson Foods executive Stewart Glendinning will become the company’s next chief financial officer, effective March 30. Glendinning joined the company earlier this year in a senior role focused on transformation initiatives, including key areas within the company’s finance organization. He is succe[...]
Real estate company names president of New Homes Division
Chesapeake-based Berkshire Hathaway HomeServices RW Towne Realty announced Tuesday that it has promoted Dianne Gordonn to president of its New Homes Division. Gordonn has about two decades of experience in the real estate industry. According to her LinkedIn account, she has served nearly two years as chief operating officer of the new homes division and […]
Japanese manufacturer set to close Chesapeake plant
Nitto, a Japanese developer of technology and manufacturer of products for automotive, aerospace and other industries, plans to close its Chesapeake plant by September, laying off 86 workers. The company notified the state of the closure Jan. 8 in compliance with the Worker Adjustment and Retraining Notification Act. The Nitto plant is at 809 Principal […]
Dollar Tree CFO stepping down
Dollar Tree Chief Financial Officer Jeff Davis is leaving the Chesapeake discount retailer after two years, the company announced Wednesday. Davis will stay through the filing of the company’s fiscal 2024 report to the Securities and Exchange Commission, Dollar Tree said. “We thank Jeff for his service and appreciate the contributions he made to the […]
Virginians go for Texan vodka
Virginia is for lovers of vodka distilled from corn in Austin, Texas, apparently. For the seventh straight year, Tito’s Handmade Vodka is Virginia’s most popular spirit at Virginia Alcoholic Beverage Control Authority (ABC) stores, according to a Friday announcement. The spirit generated $75 million in sales at Virginia ABC stores in fiscal year 2024. That’s […]
Dollar Tree CEO Dreiling steps down, citing health
Rick Dreiling stepped down Sunday as CEO and board chairman of Chesapeake-based Dollar Tree, effective immediately, the Fortune 500 discount retailer announced Monday. Michael C. Creedon Jr., Dollar Tree’s chief operating officer since 2022, was named interim CEO. He previously held executive positions at Advance Auto Parts. Edward “Ned” Kelly III, the board’s lead independ[...]
