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You may not have heard of Inspire Brands, but chances are you've eaten a meal at one of its franchises.The owner of Sonic Drive-In, Arby's and Buffalo Wild Wings is making another addition to its growing restaurant empire: sandwich chain Jimmy John's.Inspire said the acquisition of Jimmy John's will make it the fourth-largest US restaurant company, with more than billion in annual sales across 11,200 restaurants. The financial terms of the transaction were not disclosed."Jimmy John's is a great fit for the Inspire family," said Paul Brown, Inspire's co-founder and CEO. "What started in 1983 as a sandwich shop in a converted garage in Charleston, Illinois, has grown into a national, differentiated brand with a passionate fanbase."The company acquired hamburger joint Sonic last year for .3 billion.Inspire Brands, a private equity-backed firm that also owns Rusty Taco, said the agreement was unanimously approved by the Jimmy John's board of directors, including founder and chairman Jimmy John Liautaud.At the close of the purchase, which is expected by the end of October, James North will serve as president of the Jimmy John's brand, and Liautaud will step down as chairman and transition to an adviser role.Jimmy John's, which has more than 2,800 locations in 43 states, did not immediately respond to a request for comment. 1357

(CNN) - As the Dow was on pace for its best day of the year, and a report showed American stores had their best holiday season in six years, JCPenney's stock fell below for the first time since it started trading in 1929.That's pretty much everything you need to know about the state of JCPenney (JCP).The 110-year old company hasn't been profitable since 2010 and its prospects are bleak. JCPenney is billion in debt with a junk credit rating, a sinking cash hoard and no sign of a turnaround.With few shoppers coming to stores, JCPenney faces inventory and supply chain struggles and no clear marketing plan or strategy. The company has been forced to offer steep discounts on clothing to clear its massive inventory glut.Last month, JCPenney reported a 1 million third-quarter loss and a 5.4% drop in sales. The stock has fallen 68% this year and nearly 30% in December alone.Jill Soltau, formerly the boss of Jo-Ann Stores, became CEO in October — the company's fourth in six years. Soltau has her work cut out for her.The company's leaders said they are considering closing some of JCPenney's remaining 860 stores. That might help JCPenney in the near-term, but its long-term prospects are questionable. The company has a .1 billion debt payment due in 2023. Wall Street analysts are skeptical about JCPenney's ability to repay that money.A spokeswoman for JCPenney declined to comment.The company never really recovered from the Great Recession. It lost shoppers to cheaper sellers a decade ago and struggled to bring them back as the economy began to rebound.JCPenney plowed through its cash reserve in an expensive makeover after it hired former Apple Store chief Ron Johnson as its CEO in 2011. The plan didn't work, and Johnson was fired after 17 months on the job.It lacked the cash to improve stores, buy trendy merchandise or hire more employees.The company switched its focus several times over the past few years: from older shoppers to younger, trendier ones, back toward middle-aged women.JCPenney has recently changed its merchandising strategy, chasing proven sales trends instead of filling up stores with inventory. It started selling appliances a few years ago, but that strategy hasn't paid off either. 2244

 A Pizza Hut manager in Florida threatened to punish employees who missed shifts by evacuating too early for Hurricane Irma.In a memo, the manager said workers at the Jacksonville restaurant have a "responsibility and commitment" to the community, and that employees who needed to evacuate would get only a 24-hour "grace period" before the storm."You cannot evacuate Friday for a Tuesday storm event!" the notice read. "Failure to show for these shifts, regardless of reason, will be considered a no call / no show and documentation will be issued."It also said that employees would be required to return to the city within 72 hours of an evacuation.Pizza Hut said its "local franchise operator has addressed this situation with the manager involved.""We absolutely do not have a policy that dictates when team members can leave or return from a disaster, and the manager who posted this letter did not follow company guidelines," the company said in a statement.The company added that all stores in Irma's path had been shuttered and wouldn't reopen "until local authorities deem the area safe."Pizza Hut declined to say whether the manager involved has been disciplined.Jacksonville authorities issued the first evacuation orders for parts of the city on Friday. On Monday, the sheriff's office tweeted to people in evacuation zones: "Get out NOW." Up to 4 feet of water covered some streets.FEMA is advising people in the storm's path to "only return home when local officials say it's ok."The Pizza Hut notice spurred resentment on social media. 1583

(AP) — A utility says it had a problem with a transmission tower near where the Kincade Fire ignited in Northern California wine country, prompting a large evacuation.Pacific Gas & Electric filed a report with the state utilities commission Thursday saying it became aware of a transmission level outage in the Geysers in Sonoma County around 9:20 p.m. Wednesday.The wildfire was reported minutes later in the same area, although it is not clear whether the malfunction sparked the blaze.The state’s largest utility preemptively shut off power in Northern California on Thursday in a bid to prevent toppled electrical lines from igniting wildfires in dry, hot gusty winds.Power was shut off to distribution lines but not to transmission lines. 755

– to use the phrase “I can’t breathe” during this moment in time was callous and insensitive. I sincerely hope he understands how wrong that was and offers a sincere apology. 2/2— Mayor W.J. Jim Lane (@MayorJimLane) June 24, 2020 237

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