Alabama Shipyard lands nearly $20 million defense contract
The U.S. Department of Defense has awarded Alabama Shipyard a $19.7 million contract to provide regular overhaul and dry docking for the USNS Lewis and Clark. Work on the ship should be completed by May 24. – NBC 15
Belk will file for Chapter 11
Though reports last week said Belk was trying to avoid it, the North Carolina-based department store chain with 20 locations in Alabama will file for Chapter 11 bankruptcy. Sycamore Partners, the private equity firm that owns Belk, says normal operations will continue and that it expects to emerge from bankruptcy by the end of February. – Alabama News Network
ServisFirst names new COO
Rodney Rushing is the new executive vice president and chief operating officer for Birmingham-based ServisFirst Bank. Rushing has been with ServisFirst since 2010. ServisFirst has assets of more than $11 billion. – Street Insider
Major tenants signed for Huntsville development
Both the Cheesecake Factory and Main Event Entertainment have signed leases for Bridge Street Town Centre, a new mixed-use development in Huntsville developed by Birmingham’s Bayer Properties. Cheesecake Factory will open this winter, and Main Event – a 50,000-square-foot entertainment venue with bowling, arcade games and more – will open in 2022. It will be Main Event’s first location in Alabama. – REBusiness Online
