Massachusetts business in brief
Casual Male lost $108M in 4th quarter
CANTON – Casual Male Retail Group reported a loss of $108 million for the fourth quarter that ended Jan. 31. The figure included a one-time charge of $100 million for a write-down of impaired assets and a change in tax accounting methods. Total sales dropped 8.1 percent to $123.1 million compared with the previous year’s fourth quarter. Sales at stores open at least a year dropped 9.3 percent from the same time a year ago. CEO David Levin called 2008 “the most challenging retail environment” in more than 30 years, but said Casual Male’s dominant market share in the big-and-tall apparel sector bodes well for its long-term prospects.
Comic’s half brother indicted on theft, forgery charges
WOBURN – A Middlesex grand jury has indicted a Wilmington man on larceny and forgery charges in connection with stealing millions of dollars from his half brother, comedian Dane Cook. Darryl McCauley, 43, was Cook’s business manager from the early 1990s until December 2008, and was responsible for Cook’s financial affairs. The indictments released on Thursday pertain to thefts that allegedly occurred from January 2008 through December 2008. Authorities allege that McCauley stole millions of dollars from Cook’s business accounts by transferring those funds to his personal accounts without Cook’s knowledge.
Black Pearl freight service set to start
BOSTON – The Black Pearl will be headed out of Boston on Monday for the Caribbean, but it’s a safe bet that Johnny Depp won’t be on board. Steamship line CMA CGM (America) LLC is bringing its Black Pearl freight service to Boston, adding 50 trade destinations for New England importers and exporters, according to the Massachusetts Port Authority. The route will connect Boston with areas around the globe via CMA CGM’s hub in Kingston, Jamaica. As part of the route, the container ship Stadt Berlin will visit the Conley terminal in South Boston every other week. CMA CGM also served the terminal in late 2006 and early 2007, a Massport spokeswoman said.
Stoughton company: Bankruptcy filing doesn’t affect on us
Consolidated Mattress Co. of Stoughton, which does business as 1-800-Mattress and Dial-A-Mattress, said it is unaffected by bankruptcy court filings in New York involving its franchiser because it is an independent franchisee. CEO Robert Klein said his company has separate contracts with mattress manufacturers and it has its own truck fleet, warehouse and service center.
Allston bike maker gets loan from Hub
BOSTON – An economic development affiliate of the Boston Redevelopment Authority has provided a $70,000 loan to Geekhouse Bikes, a manufacturer of custom-built bike frames in Allston.
Norwell firm adds N.H. mortgage arm
NORWELL – Radius Financial Group, a mortgage firm in Norwell, has acquired LT Mortgage of Littleton, N.H., for an undisclosed sum. The acquisition will add two employees to Radius’ 33-person work force.
Patriot Ledger staff