Business

Sunday was the last day of business for Five & Dime Ale House, a popular pub on Hampden’s Avenue, the restaurant posted on social media after closing time. The former G.C. Murphy five-and-dime shop on 36th Street was re-imagined as a neighborhood tavern nearly seven years ago, opening in the fall of 2016. The two-level ale restaurant, which offered American fare among brick walls and a retro vibe, is owned by the 206 Restaurant Group.

The past decade of economic growth in Greater Washington has not been fairly spread out across the entire region. And in many ways, it’s just gotten worse in the last few years. Those are the conclusions of a new study from Brookings Metro that charted inclusive growth in major cities across the country both before and during the pandemic, and found a rather grim picture of Greater Washington.

Target announced plans to shutter four US stores, including two in the Washington, D.C. metro area. This move coincided with several other big-box retailers shuttering certain locations. The Falls Church, Va. store at 500 South Washington St. and the 7501 Baltimore Ave. location in College Park, Md. will close May 13, according to a spokesperson on for the retail giant Wednesday.

Basketball fans who flock to televisions this week to watch the 2023 NCAA Men’s Tournament will notice fewer Under Armour logos on their screens. Baltimore-based Under Armour (NYSE:UAA) is the official jersey sponsor of 11 teams in this year’s tournament, which is 16% of the 68-team field, according to Apex Marketing. The 11 teams is five fewer than last year, when the company sponsored 16 tournament teams, or 23.5% of the field.

Silver Spring media company Urban One Inc. (NASDAQ: UONE) is cashing out of its longstanding investment in MGM National Harbor to the tune of nearly $146 million. On March 8, Urban One issued a “put notice” that requires MGM National Harbor LLC to repurchase Urban One’s share in the casino for cash within 30 days, according to a document filed with the Securities and Exchange Commission.

The nation’s largest grid operator is warning that it might not have enough electric generation in the future to guarantee reliability. And it comes as the Federal Energy Regulatory Commission convenes a forum on the multibillion-dollar capacity market PJM operates to ensure there’s enough power to meet demand even during grid emergencies, such as during Winter Storm Elliott last year.

Baltimore leaders imposed rare sanctions Wednesday on a longtime business partner for repeatedly failing to make timely payments to a West Baltimore company, a decision they hope sends a signal about the city’s commitment to upholding requirements for women- and minority-owned businesses. The city’s five-member Board of Estimates unanimously approved a two-year ban on contracts with the New Jersey-based Metra Industries for a series of late payments to a Black-owned subcontractor, and for misrepresenting the reason for these missed payments over a monthslong investigation.

Diamond Sports Group, the largest owner of regional sports networks, filed for bankruptcy protection on Tuesday, toppled by a more than $8 billion debt load. The company, which is an unconsolidated and independently run subsidiary of Sinclair Broadcast Group, filed for chapter 11 bankruptcy protection in Texas. The company said in a release it is finalizing a restructuring support agreement with a majority of its debt holders and Sinclair to wipe out its debt load.