Los Angeles-based firms are making headlines in the business world. From investment portfolio adjustments to retail closures and insurance relief efforts, here's a roundup of the latest news.
Investment Firm Adjusts Holdings
Los Angeles Capital Management LLC has been actively managing its investment portfolio. According to their most recent filings with the Securities & Exchange Commission, the firm has made notable changes in its holdings of two publicly traded companies.
The firm reduced its stake in Onsemi (NASDAQ:ON) by a significant 39.8% during the fourth quarter. This involved selling 2,110 shares, leaving them with a remaining 3,195 shares of the semiconductor company. The details were revealed in their Form 13F filing with the SEC.
Conversely, Los Angeles Capital Management LLC acquired a new stake in Plymouth Industrial REIT, Inc. (NYSE:PLYM) during the same period. The firm purchased 10,879 shares of Plymouth Industrial REIT, Inc.'s stock, valued at approximately $194,000. This information was disclosed in their latest filing with the Securities & Exchange Commission.
Forever 21's Struggles Continue
The fast-fashion retailer Forever 21, also founded in Los Angeles, is facing continued challenges. The company is closing 12 more stores in the Bay Area as it seeks a new owner to bail it out of bankruptcy. The once-popular chain has struggled to adapt to changing consumer preferences and the rise of online retailers.
The closures signal a further contraction for the retailer, highlighting the difficulties faced by brick-and-mortar stores in the current market. The company is actively searching for a buyer to help them navigate their financial difficulties.
Insurance Relief for Fire Victims
Following recent fires in the Los Angeles area, insurance companies are taking varied approaches to assisting affected policyholders. While many insurers are waiving the requirement for fire victims to itemize their lost belongings when filing claims, some major companies, including State Farm, have chosen not to offer this concession.
This decision by State Farm could potentially complicate the recovery process for those affected by the fires, as itemizing lost belongings can be a time-consuming and emotionally taxing task.
"We are committed to supporting our policyholders during this difficult time," said a spokesperson for one of the insurance companies offering relief. "We want to make the claims process as smooth and stress-free as possible."
The differing approaches among insurance companies highlight the complexities of navigating the aftermath of a disaster and the importance of understanding one's insurance policy.
In summary, Los Angeles businesses are experiencing a range of events, from investment adjustments to retail struggles and varied responses to community crises. These developments reflect the dynamic nature of the business landscape in the region.