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Kit Kittredge: An American Girl - Official Trailer

In theaters July 2nd, 2008 In the first feature film based on the hugely popular American Girl® book series, Oscar® nominee Abigail Breslin ...

Foreclosure auction scheduled for Yankee Candle office, warehouse in South Deerfield

The office complex and distribution center of Yankee Candle Co. in South Deerfield is scheduled to soon be up for auction. 

A foreclosure auction for the candlemaker's 256,340-square-foot warehouse and 81,138-square-foot office building located on Yankee Candle Way has been scheduled, The Recorder  reports. 

Yankee Candle Co. is a tenant paying rent for both buildings. 

The mortgage on property is held by Yankee Candle Way LLC, the  Recorder  reports. An attorney for the limited liability corporation declined to comment to the Franklin County publication regarding if the property is in default of payments. 

James, Perley, chief operating officer for Yankee Candle, said the auction is "the result of a dispute between the property owner and its lender. It does not involve Yankee Candle. We fully expect to continue to operate in these buildings and have long term leases on both properties."

He added, "It continues to be business as usual for Yankee Candle in South Deerfield.

Wall Street has found its next big short in US credit market: Malls

Wall Street speculators are zeroing in on the next U.S. credit crisis: the mall.

It’s no secret many mall complexes have been struggling for years as Americans do more of their shopping online. Now they’re catching the eye of hedge-fund types who think some may soon buckle under their debts, much as many homeowners did nearly a decade ago.

Like the run-up to the housing debacle, a small but growing group of firms are positioning to profit from a collapse that could spur a wave of defaults. Their target: securities backed not by subprime mortgages, but by loans taken out by beleaguered mall and shopping center operators. With bad news piling up for anchor chains like Macy’s and J.C. Penney, bearish bets against commercial mortgage-backed securities are growing.

In recent weeks, firms such as Alder Hill Management – an outfit started by protigis of hedge-fund billionaire David Tepper — have ramped up wagers against the bonds, which have held up far better than the shares of beaten-down retailers. By one measure, short positions on two of the riskiest slices of CMBS surged to $5.3 billion last month – a 50 percent jump from a year ago.