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Vitamin World, the Holbrook, N.J.-based retail chain that filed for bankruptcy protection in September, has received a $28 million offer from an affiliate of a Chinese dairy producer to acquire its 156 remaining stores after a previous bid fell through, Newsday reported. The new bid calls for Valuable Hero International, based in the British Virgin Islands, to pay $28 million cash, assume liabilities of about $1.2 million for employees’ accrued vacation and sick days, and pay half the costs related to property leases that exceed $2.4 million. Valuable Hero is an affiliate of Beijing-based Feihe International Inc., which produces and distributes milk powder and soybean powder in China. A filing in federal bankruptcy court in Delaware last week said that negotiations with a previous bidder, Holbrook-based Latium Enterprises, “broke down” and the agreement with Valuable Hero becomes the stalking-horse bid that potential rivals will have to better. Latium had bid $26 million in cash.

Fashion jewelry chain Charming Charlie LLC said yesterday that it filed for chapter 11 protection and entered into a restructuring agreement with lenders and equity sponsors, Reuters reported. The retailer said that it had secured $20 million in debtor-in-possession financing from a majority of its existing term loan lenders and entered into a $35 million asset backed loan with current lenders. The majority of its stores and its website would operate as usual, Charming Charlie said, adding that it would roll out a “back-to-basics” strategy, close underperforming locations and simplify business operations.

Toys “R” Us Inc.’s unsecured creditors want to take a deeper look into the troubled retailer’s hefty and complex debt load, the Wall Street Journal reported. In court papers filed on Tuesday, the toy retailer’s creditors are seeking permission from Judge Keith Phillips to obtain more documents related to the numerous debt transactions that took place in the years leading up to the company’s September bankruptcy filing, including several transfers of intercompany notes, its 2005 leveraged buyout and fees paid to its private-equity backers. At the time of its filing, Toys “R” Us had $5.3 billion in debt, unchanged from when it was taken private by private-equity firms Bain Capital and KKR & Co. and real-estate investment trust Vornado Realty Trust in a $6.6 billion deal. The creditors have been in discussions with Toys “R” Us regarding these matters.

Since Edward Lampert merged Kmart and Sears in 2005, the hedge-fund manager has kept his shrinking retail empire afloat with a web of complex transactions, the Wall Street Journal reported today. Lampert is chairman and chief executive of Sears Holdings, its biggest shareholder and among its biggest lenders, through his hedge fund, ESL Investments. He is also chairman of, and a major investor in, Seritage Growth Properties, a real-estate investment trust that ranks among Sears’s biggest landlords. Sears said that its board reviews transactions with Lampert and related entities and requires them to be on terms at least as favorable as arm’s-length transactions, where buyers and sellers independently pursue the best deal possible. Outside lenders have generally demanded more onerous terms. A spokesman for Mr. Lampert’s hedge-fund company said the investments show he believes in Sears’s future, and noted other investors can typically invest alongside ESL on similar terms.

Brick-and-mortar retailers hoping to fend off Amazon.com Inc. need to deploy the one weapon that could set them apart: top-notch customer service, provided by people, according to a Bloomberg News commentary. But making that goal a reality relies on something they’ve not really invested in — well-trained employees with the kinds of wages and regular hours that make them want to stick around. As they boost payrolls during the crucial holiday shopping season, chains are mostly sticking to low-wage and part-time positions, according to the commentary. With unemployment at an almost 17-year low and a broader shortage of workers, it’s a tough time to change the long-established model. “It’s definitely a tighter job market, but the wage power is all with the employer,” said Scott Brown, chief economist at Raymond James Financial Inc. in St. Petersburg, Florida. Chains don’t see the need to increase compensation or add more full-time positions, he said. “Retail is usually seen as being low on the food chain, so you’re not going to see much pressure, even during the holidays.”

Toys ‘R’ Us won court approval on Tuesday for plan to pay top executives up to $21 million in bonuses by arguing that the money will incentivize them to boost the bankrupt retailer’s sales during the critical year-end shopping season, Reuters reported. Bankruptcy Judge Keith Phillips approved the bonus plan over an objection by the U.S. Trustee, a government bankruptcy watchdog, after Toys ‘R’ Us advisers called the payments reasonable. Under the Toys ‘R’ Us plan, 17 eligible executives would split about $21 million if earnings before interest, depreciation and amortization for this fiscal year reach $641 million. Toys ‘R’ Us attorney Joshua Sussberg called the target “incredibly hard to achieve.” Executives would split about $14 million if earnings reach $550 million. The terms were revised after a complaint from unsecured creditors, who ultimately backed the plan. The U.S. Trustee blasted the proposal, saying that five of the potential recipients split $8.2 million in retention bonuses a week before the Sept. 19 bankruptcy filing, and noted other salary perks for Toys ‘R’ Us Chief Executive David Brandon such as aircraft and limousine use.

Vitamin World, a Holbrook, N.J.-based retail chain that filed for bankruptcy protection in September, has received a $26 million cash bid from Latium Enterprises to acquire its remaining 150 or so stores, according to court filings made on Friday, Newsday reported. The bid envisions keeping workers at some Vitamin World stores in their jobs, according to the filings. Latium is also based in Holbrook and is engaged in financing, consulting, manufacturing and commercial property ownership and management, among other businesses, according to data from S&P Global Market Intelligence. The bid from Latium is subject to higher bids at a court-supervised auction.

Toys R Us UK is to seek creditor approval for a restructuring plan involving closing at least 26 of its 105 stores in Britain in 2018, Reuters reported today. The British arm of Toys R Us Inc. of the United States which filed for bankruptcy in September, said that it had submitted a Company Voluntary Arrangement (CVA) plan to its creditors and would seek their approval in the next 17 days. Toys R Us UK said that if approved by the creditors the CVA plan would substantially reduce its rental obligations and allow the business to move to a new, viable business model. The firm said it anticipated redundancies among its workforce of 3,200 but did not give a specific number. Toys R Us UK said that all its stores would remain open as normal through Christmas and into the new year.

Troubled accessories retailer Charming Charlie LLC said it would close a number of its stores ahead of the holiday season, WSJ Pro Bankruptcy reported. The Houston-based chain announced the store closings on Friday as part of a “back-to-basics strategy,” which includes closing its Los Angeles office and cutting staff at its corporate support and distribution centers. The company will likely close approximately 100 of its 375 stores in the coming weeks, a person familiar with the matter said, adding there could be more closures in the future. Charming Charlie has been on the hunt for a loan in recent months as it faces a cash crunch. It has been looking to secure a term loan in the $15 million to $20 million range, they added.