Plus 4 World

[Charise Farag]

Thisrecall involves high-back upholstered reading chairs sold in a black and white floral print. The chairs are 37-inches tall by 30-inches wide, and have four wooden legs with the front two on casters. SKU number 473747 is printed on a UPC sticker affixed to the underside of the chair.

Consumers should immediately stop using the recalled chairs and inspect the front legs for support blocks. Chairs without support blocks can be returned to any Cost Plus World Market for a free exchange. Consumers should contact Cost Plus World Market or log onto www.worldmarket.com for instructions on how to inspect the chair legs for support blocks.

The U.S. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risk of injury or death associated with the use of thousands of types of consumer products. Deaths, injuries, and property damage from consumer product-related incidents cost the nation more than $1 trillion annually. CPSC's work to ensure the safety of consumer products has contributed to a decline in the rate of injuries associated with consumer products over the past 50 years.

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Headquartered in Alameda, California, Cost Plus World Market is a national specialty retailer of home furniture, dcor, curtains, rugs, gifts, apparel, coffee, wine, craft beer, and food products. It searches the world for unique artisan goods and handicrafts, international food favorites and design inspiration for its furniture and home dcor. World Market focuses on value and affordability so that its products are accessible to anyone who wants to make their home and their special occasions unique to them. World Market sells through a network of approximately 245 stores and through its e-commerce site at www.worldmarket.com.

Wells Fargo Bank, Bank of America, and Callodine Commercial Finance provided debt financing for the acquisition and the go forward working capital needs of the Company. Goodwin Procter served as legal advisor to Kingswood.

Los Angeles-based private equity firm, Kingswood Capital Management, has acquired the retail chain from its parent company, Bed Bath & Beyond. According to SEC filings, Bed Bath & Beyond sold Cost Plus World Market for $110 million.

"We are excited to begin our partnership with World Market," said Michael Niegsch, a partner at Kingswood. "As an independent company, decision-making will be more closely aligned with the needs of the business and its dedicated associates."

Based in Alameda, Cost Plus World Market has a network of about 245 brick-and-mortar stores nationwide, including 18 in the Greater Los Angeles region, as well as an online presence. The deal also includes a pair of distribution sites and an office. Cost Plus World Market specializes in selling home products such as furniture, dcor, rugs, apparel, and food and drink products sourced worldwide.

"I have been a fan of World Market for many years," said Smith, the newly appointed executive chairman of Cost Plus. "The company's combination of consumables, home furnishing, and dcor gives it a unique niche in very large addressable markets. I'm looking forward to working with the team to extend the brand's reach and expand market share."

"Our significant portfolio transformation will lead to fewer, better performing stores and will include a healthier core revenue base with a larger proportion of a faster-growing digital business," said Gustavo Arnal, chief financial officer and treasurer at Bed Bath & Beyond, during the company's January 7 earnings call. "We're now tightening our projected fiscal '21 revenue range to approximately $8 billion to $8.2 billion."

LOS ANGELES, Jan. 19, 2021 /PRNewswire/ -- Kingswood Capital Management, LP (together with its affiliates, "Kingswood") announced today that it has completed its acquisition of Cost Plus World Market ("World Market" or the "Company"), a national specialty retailer of home products sourced from around the world. Prior to the acquisition, World Market was a subsidiary of Bed Bath & Beyond Inc. (NASDAQ: BBBY).

In connection with the transaction, Alexander W. Smith will join World Market's senior management team and formally lead the Company as its Executive Chairman. Alex is an accomplished retail executive with expertise in the home and dcor categories. He was Chief Executive Officer of Pier 1 Imports from 2007 to 2016 where he led a transformational turnaround of that retailer which specialized in imported home furnishings. From 1995 until 2007, Alex held various senior management positions within TJX Companies, Inc., including Group President and Chairman of the HomeGoods division. Most recently, Alex served as Executive Chairman of Vitamin Shoppe, where he oversaw a successful sale of the business.

"I have been a fan of World Market for many years. The company's combination of consumables, home furnishing, and dcor give it a unique niche in very large addressable markets," said Alex Smith. "I'm looking forward to working with the team to extend the brand's reach and expand market share."

"We are excited to begin our partnership with World Market. As an independent company, decision-making will be more closely aligned with the needs of the business and its dedicated associates. We look forward to working with Alex Smith and the World Market team to continue to source unique products from around the world that delight customers," said Michael Niegsch, a Partner of Kingswood.

Cost Plus World Market is a specialty retailer, offering our customers a wide and ever-changing selection of exciting products imported from around the world. We emphasize both quality and value in a fun and friendly environment.

When the idea of Weapon Plus was introduced way back in July, it seemed like Marvel would be fleshing out the program that ended up giving Wolverine adamantium. It started with Captain America, but there was a hint for a lot more discovery via a few icons. One of those icons was Man-Thing, who gets his due this week in Weapon Plus: World War IV. Can Benjamin Percy pull off a story about a soldier abused by those in power and given abilities similar to Man-Thing? He sure aims to show us, plus Ryan Cady and David Baldeon deliver a sometimes funny and touching story about Project Brute Force.

World Market, formerly Cost Plus World Market, is an American chain of specialty/import retail stores, selling home furniture, decor, curtains, rugs, gifts, apparel, coffee, wine, craft beer, and international food products. The brand's original name came from the initial concept, since abandoned, of selling items for "cost plus 10%". The company was owned by Bed Bath & Beyond from 2012 to 2021, and is currently headquartered in Alameda, California.[2]

On 23 October 1958,[3] William Amthor and Lincoln Bartlett[4] opened the first Cost Plus Imports store at 2552 Taylor Street on Fisherman's Wharf in San Francisco, California. This location permanently closed in 2020.[5] Founder William Amthor had been operating a small family-owned furniture store in San Francisco, when he imported a surplus of wicker furniture. Rather than display the wicker pieces in his store, he rented 4,000 square feet (370 m2) of warehouse space in the Fisherman's Wharf area of San Francisco. The imported furniture sold quickly, and Amthor began a new business as an importer. When he opened his first store in 1958, it was devoted exclusively to wicker and rattan that he had imported himself. The store was named Cost Plus after Amthor's strategy of pricing the imported goods at cost, plus ten percent. The stores featured an eclectic mix of imported furniture and home furnishings, displayed in the style of a bazaar.[6] The success in San Francisco led Amthor to quickly open other stores across Northern California.

In 1962, with the help of the Tandy Corporation, Cost Plus Imports incorporated and opened franchised locations in California and Texas. The franchised stores would, by 1966, be renamed Pier 1 Imports, while Amthor's original chain retained the Cost Plus name.[4][7] Cost Plus would eventually grow to 258 stores across 39 states and Washington, D.C.[as of?]

In the 1990s, Cost Plus shifted the branding of its stores to either Cost Plus World Market or simply World Market in markets new to the brand (generally in the eastern or southern regions of the United States). In 1996, Cost Plus World Market went public and began trading on the NASDAQ stock exchange.

In 2014, Cost Plus World Market launched an online crowdsourcing-model marketplace, Craft by World Market.[11] The website posts items for one month at a time, and sells only products that attract enough pre-orders to be worthwhile.[12]

In October 2019, Bed Bath and Beyond announced pending closure of 40 Bed Bath and Beyond stores and 20 stores of World Market and other subsidiaries.[13] The company sold Cost Plus World Market to Kingswood Capital Management in February 2021.[14]

The extruder features a machine design that is optimally harmonized to the common powder coating formulas, in addition to reliable, high-quality Coperion technology. It was developed for a broad range of applications in collaboration with our process engineers. The ZSK Mv PLUS world proven is the result of over 40 years of experience and more than 800 twin screw extruders we have installed for powder coating applications.

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