Iconic North Carolina Based Department Store Is Restructuring and Saving Jobs

When I saw the headline about Belk, my stomach dropped. We cannot lose this local institution. But this iconic North Carolina based department store is actually restructuring. The goal is better financial health and saving jobs.

According to the Charlotte Observer, Belk is cutting debt by almost a billion dollars. The restructuring of finances was announced in a press release this week. It also includes news of securing $485 million in new financing. It's all part of a strategy to "strengthen it's financial standing".

Don Hendricks is the CEO of Belk. And he reveals this is a "pivotal milestone for the company's sustainable, long term growth and profitability". Belk revealed in the news release published in the Charlotte Observer,"The privately-owned department store’s “deleveraging transaction” is with the company’s first and second lien lenders, including private equity firms KKR and Hein Park, and private equity owner Sycamore Partners."

Ok but what does all this mean for you and me? Well, for one thing this is going to save thousands of jobs. And in a world where it seems like large corporations keep laying off people and eliminating positions, this is very good news. You can find a Belk in 16 southern states and has almost 300 stores. Belk employs around 20,000 people.

Belk was once the biggest family owned department store chain in the United States. Three generations of the Belk family led the way. In 2015, the family sold Belk to Sycamore for 3 billion dollars. And who can blame them. I have fond memories of going to our local Belk when I was growing up in Shelby. Going to Belk was once a joy and it felt special. I would love to have that feeling again. I'm pulling for you Belk. I hope this new restructuring plan helps restore you to the department store I remember.

With prices skyrocketing around us it can seem like what you are being charged is incorrect. I have no idea how that grocery bill adds up as quick as it does, and for nothing, it seems. And while most of the time it's just the prices, they could be overcharging you. Every year the North Carolina state government audits stores to make sure they are charging consumers the correct listed prices and not overcharging. This year the NC Department of Agriculture and Consumer Services collected fines from 37 stores in 22 counties due to excessive price-scanner errors.

This is monitored by the state Department of Agriculture and Consumer Services in an attempt to keep stores honest. They believe many of the issues come from a lack of staff making it harder for stores to keep up. This essentially means that when rung up prices are showing higher than what they are marked on the shelves.

If you are shopping and realize an item rings up for a different price than advertised make sure to bring it to the attention of a manager. If you'd like to report a store for violations call 984-236-4750. Stores can be issued fines even if what they are doing isn't breaking the law.

You can read more details about how these fines are issues and specific violations of individual stores on the NC Department of Agriculture and Consumers Services website. Keep reading to see which North Carolina stores have been charged fines for overcharging customers.

County: Alamance

Penalties Paid: $1,485

https://www.google.com/maps/place/1217+S+Main+St,+Graham,+NC+27253/@36.0451148,-79.3975035,18z/data=!4m6!3m5!1s0x88532ca472436b45:0x8322eee22f21d718!8m2!3d36.0452826!4d-79.3966629!16s%2Fg%2F11bw439rzx

County: Brunswick

Penalties Paid: $1,420

https://www.google.com/maps/place/5001+Main+St,+Shallotte,+NC+28470/@33.9679506,-78.3932856,17z/data=!3m1!4b1!4m6!3m5!1s0x89aa7605efbdf813:0xc69c158de1ce1502!8m2!3d33.9679506!4d-78.3907107!16s%2Fg%2F11b8v4mtr8

County: Brunswick

Penalties Paid: $1,725

https://www.google.com/maps/place/6675+Beach+Dr+SW,+Ocean+Isle+Beach,+NC+28469/@33.899679,-78.459159,18.5z/data=!4m6!3m5!1s0x89009cc0cbc87751:0x74cc053653c22ef2!8m2!3d33.8996816!4d-78.4579423!16s%2Fg%2F11bw49zn15

County: Cleveland

Penalties Paid: $2,235

https://www.google.com/maps/place/125+N+Academy+St,+Mooresboro,+NC+28114/@35.3018913,-81.6977304,19z/data=!4m6!3m5!1s0x88573d49fa6023f3:0x429ce1252e084d1d!8m2!3d35.3018118!4d-81.6971828!16s%2Fg%2F11bw4mr3kk

County: Davie

Penalties Paid: $6,290

https://www.google.com/maps/place/1334+Yadkinville+Rd,+Mocksville,+NC+27028/@35.9174249,-80.5841393,18.25z/data=!4m6!3m5!1s0x8853c25e7fc832bf:0x2b423cc4aeb490b2!8m2!3d35.9173388!4d-80.5828574!16s%2Fg%2F11bw3ztc16

County: Forsyth

Penalties Paid: $13,445

https://www.google.com/maps/place/3915+Country+Club+Rd,+Winston-Salem,+NC+27104/@36.0906024,-80.3195761,17z/data=!3m1!4b1!4m6!3m5!1s0x8853b1ab98cfc2bf:0x31a466404711205c!8m2!3d36.0906024!4d-80.3170012!16s%2Fg%2F11b8v5wsmh

County: Granville

Penalties Paid: $3,855

https://www.google.com/maps/place/903+College+St,+Oxford,+NC+27565/@36.3231155,-78.5983328,17z/data=!3m1!4b1!4m6!3m5!1s0x89ada1336df27d15:0x9e1ca3a688dbc16e!8m2!3d36.3231155!4d-78.5957579!16s%2Fg%2F11c1cdssv8

County: $8,380

Penalties Paid: $8,380

https://www.google.com/maps/place/4017+Yanceyville+St,+Greensboro,+NC+27405/@36.1399382,-79.7794995,17z/data=!3m1!4b1!4m6!3m5!1s0x88531fb1d1d99f07:0xee226722e23b4109!8m2!3d36.1399382!4d-79.7769246!16s%2Fg%2F11c5nyyq50

County: Jackson

Penalties Paid: $5,000

https://www.google.com/maps/place/Shopping+Center,+76+Cashiers+Shopping+Ctr,+Cashiers,+NC+28717/@35.1205269,-83.0902313,17z/data=!3m1!4b1!4m6!3m5!1s0x88591b4f1a2bf5d7:0xcdf8e1ce9d2f7ebe!8m2!3d35.1205269!4d-83.0876564!16s%2Fg%2F11tg8hl1jz

County: Mecklenburg

Penalties Paid: $7,675

https://www.google.com/maps/place/2804+W+Sugar+Creek+Rd,+Charlotte,+NC+28262/@35.301877,-80.8024261,17.75z/data=!4m6!3m5!1s0x88541e0790d83de1:0x8759fa6cd236098!8m2!3d35.3018201!4d-80.8010089!16s%2Fg%2F11b8v6r6vn

County: Pender

Penalties Paid: $2,040

https://www.google.com/maps/place/105+US-117,+Burgaw,+NC+28425/@34.5545741,-77.9166448,18z/data=!4m6!3m5!1s0x89a98090f363ef05:0x40715171fc9aa7ed!8m2!3d34.554574!4d-77.9151834!16s%2Fg%2F11b8v5p9ld

County: Randolph

Penalties Paid: $7,655

https://www.google.com/maps/place/2907+S+Main+St,+High+Point,+NC+27263/@35.9215683,-79.980549,17z/data=!3m1!4b1!4m6!3m5!1s0x88530c2502933255:0x2e86d715f959de54!8m2!3d35.9215683!4d-79.9779741!16s%2Fg%2F11bw43j005

County: Rowan

Penalties Paid: $4,880

https://www.google.com/maps/place/11801+Statesville+Blvd,+Cleveland,+NC+27013/@35.7302281,-80.6959099,18.5z/data=!4m6!3m5!1s0x8853e4cb3f5d6a83:0x8f399632ce9af16!8m2!3d35.7298962!4d-80.6951474!16s%2Fg%2F11bw3_3st0

County: Rowan

Penalties Paid: $1,920

https://www.google.com/maps/place/120+Grace+Church+Rd,+Salisbury,+NC+28147/@35.6157826,-80.5369503,18.5z/data=!4m6!3m5!1s0x8853f41bb284a9c7:0xba605ac106855102!8m2!3d35.6155233!4d-80.5357278!16s%2Fg%2F11g19v3s8j

County: Stanly

Penalties Paid: $1,845

https://www.google.com/maps/place/1920b+US-52,+Albemarle,+NC+28001/@35.386955,-80.1937041,18.5z/data=!4m6!3m5!1s0x88547b8226c00001:0x1c7e766658f0629b!8m2!3d35.3870218!4d-80.1933474!16s%2Fg%2F11sj9lkxsl

County: Yadkin

Penalties Paid: $1,005

https://www.google.com/maps/place/120+W+Main+St,+Boonville,+NC+27011/@36.2334528,-80.7106952,18.5z/data=!4m6!3m5!1s0x8853d344c972cca7:0x19155558dd8390d6!8m2!3d36.2334204!4d-80.709922!16s%2Fg%2F11bw3_y7ys

County: Bertie

Penalties Paid: $15,000

https://www.google.com/maps/place/1307+S+King+St,+Windsor,+NC+27983/@35.9890411,-76.9335259,17z/data=!3m1!4b1!4m6!3m5!1s0x89afa4100b9c5607:0xd2705c1e0fa8b4c7!8m2!3d35.9890411!4d-76.930951!16s%2Fg%2F11b8v6kynj

County: Chowan

Penalties Paid: $7,930

https://www.google.com/maps/place/1823+Virginia+Rd,+Edenton,+NC+27932/@36.1608087,-76.6576985,17z/data=!3m1!4b1!4m6!3m5!1s0x89af926282fa48a7:0x41ccfeeffa047718!8m2!3d36.1608087!4d-76.6551236!16s%2Fg%2F11c5k312t_

County: Forsyth

Penalties Paid: $18,950

https://www.google.com/maps/place/1019+Rural+Hall-Germanton+Rd,+Rural+Hall,+NC+27045/@36.2423336,-80.2760952,19z/data=!4m5!3m4!1s0x8852529d74793841:0x7916dae14a9f6e7e!8m2!3d36.242536!4d-80.2755385

County: Forsyth

Penalties Paid: $5,000

https://www.google.com/maps/place/1425+Waughtown+St,+Winston-Salem,+NC+27107/@36.0689565,-80.2072607,20.25z/data=!4m6!3m5!1s0x8853af22df97fe79:0x95df1ea623c31216!8m2!3d36.0690217!4d-80.2070926!16s%2Fg%2F11bw4df5sn

County: Forsyth

Penalties Paid: $8,110

https://www.google.com/maps/place/2017+S+Broad+St,+Winston-Salem,+NC+27127/@36.0716522,-80.2427402,19.75z/data=!4m6!3m5!1s0x8853afafeed85b2d:0x3db799e7b951e2b1!8m2!3d36.0716404!4d-80.2423691!16s%2Fg%2F11bw438kt7

County: Hertford

Penalties Paid: $20,000

https://www.google.com/maps/place/1216+E+Memorial+Dr,+Ahoskie,+NC+27910/@36.2748394,-76.9773815,18.25z/data=!4m6!3m5!1s0x89afc7b1cfd20693:0xd44b5bd2b3ef5f64!8m2!3d36.2746934!4d-76.9765925!16s%2Fg%2F11bw4qf58b

County: Hyde

Penalties Paid: $13,410

https://www.google.com/maps/place/13115+US-264,+Swanquarter,+NC+27885/@35.4249843,-76.3277509,18.25z/data=!4m6!3m5!1s0x89a5f3b04fe2928d:0x76a70bdb611608f4!8m2!3d35.4251292!4d-76.3267777!16s%2Fg%2F11csg1yd_r

County: Mecklenburg

Penalties Paid: $20,000

https://www.google.com/maps/place/7921+Old+Statesville+Rd,+Charlotte,+NC+28269/@35.3292605,-80.8280026,18.5z/data=!4m6!3m5!1s0x8856a76bd5d3e571:0x658ae79947b02dde!8m2!3d35.3295119!4d-80.8268361!16s%2Fg%2F11bw4r4s07

County: Mecklenburg

Penalties Paid: $10,000

County: Perquimans

Penalties Paid: $32,685

https://www.google.com/maps/place/206+Ocean+Hwy+S,+Hertford,+NC+27944/@36.1779245,-76.4646594,17z/data=!3m1!4b1!4m6!3m5!1s0x89af8aab8a00ce11:0x76659186d2cf6e70!8m2!3d36.1779245!4d-76.4620845!16s%2Fg%2F11rfwfzssm

County: Stanly

Penalties Paid: $28,675

https://www.google.com/maps/place/103+N+Main+St,+Norwood,+NC+28128/@35.2250417,-80.1202473,18.75z/data=!4m6!3m5!1s0x885461c065224cdd:0x42c1e0c9b803523f!8m2!3d35.2248533!4d-80.1197839!16s%2Fg%2F11bw410vqx

County: Guilford

Penalties Paid: $6,715

https://www.google.com/maps/place/1212+Bridford+Pkwy,+Greensboro,+NC+27407/@36.0564212,-79.9101258,17z/data=!3m1!4b1!4m6!3m5!1s0x88531b262db0dae9:0x4919d244d9ff23cc!8m2!3d36.0564212!4d-79.9075509!16s%2Fg%2F11b8v6mjt5

County: Guilford

Penalties Paid: $5,000

https://www.google.com/maps/place/1628+Highwoods+Blvd,+Greensboro,+NC+27410/@36.1133999,-79.877965,17.5z/data=!4m6!3m5!1s0x88531c8aeadace23:0xab63bc659d73c550!8m2!3d36.1139419!4d-79.8760585!16s%2Fg%2F11c2bfqyjn

County: Mecklenburg

Penalties Paid: $8,370

https://www.google.com/maps/place/8120+University+City+Blvd,+Charlotte,+NC+28213/@35.2927113,-80.7468205,18.25z/data=!4m6!3m5!1s0x88541e98d02d7fd1:0xfd71c188205fecff!8m2!3d35.2925743!4d-80.7458688!16s%2Fg%2F11bw3x91gz

County: Guildford

Penalties Paid: $3,540

https://www.google.com/maps/place/3101+Pleasant+Garden+Rd,+Greensboro,+NC+27406/@36.0270568,-79.771759,17.75z/data=!4m6!3m5!1s0x8853184436f0679b:0xd71ed3e15a5425ba!8m2!3d36.0267729!4d-79.7704333!16s%2Fg%2F11b8zg1714

County: Mecklenburg

Penalties Paid: $5,340

https://www.google.com/maps/place/3424+Matthews-Mint+Hill+Rd,+Matthews,+NC+28105/@35.1371699,-80.6838257,18z/data=!4m6!3m5!1s0x8854239935ca8b01:0xde40ab3f026af342!8m2!3d35.1372324!4d-80.6827988!16s%2Fg%2F11bw402f43

County: Surry

Penalties Paid: $8,890

https://www.google.com/maps/place/110+Graceland+Ln,+Mt+Airy,+NC+27030/@36.4853654,-80.7457369,19z/data=!4m6!3m5!1s0x885226eaea33f4fb:0xe97f54fd985fd99b!8m2!3d36.4853458!4d-80.7451566!16s%2Fg%2F11b8y5l06p

County: Bladen

Penalties Paid: $7,365

https://www.google.com/maps/place/14661+NC-87,+Tar+Heel,+NC+28392/@34.7336446,-78.7947533,17z/data=!3m1!4b1!4m6!3m5!1s0x89ab025617e79f43:0x4909587d8cc53ee7!8m2!3d34.7336446!4d-78.7921784!16s%2Fg%2F11c43_x9wy

County: Brunswick

Penalties Paid: $3,395

https://www.google.com/maps/place/New+Pointe+Blvd,+Leland,+NC+28451/@34.2130617,-78.0242313,17z/data=!3m1!4b1!4m6!3m5!1s0x89aa193662568283:0x739b33681b08b90e!8m2!3d34.2130617!4d-78.0216564!16s%2Fg%2F1tdksnv4

County: 1318 East Dixie Dr, Asheboro

Penalties Paid: $4,470

https://www.google.com/maps/place/1318+E+Dixie+Dr,+Asheboro,+NC+27203/@35.6964176,-79.7903511,17z/data=!3m1!4b1!4m6!3m5!1s0x885368fe4c9881d7:0xe449de2117bc472d!8m2!3d35.6964176!4d-79.7877762!16s%2Fg%2F11c191q_pn

County: Watauga

Penalties Paid: $945

https://www.google.com/maps/place/178+W+King+St,+Boone,+NC+28607/@36.2168749,-81.6769677,18.25z/data=!4m6!3m5!1s0x8850fa13df80c105:0x3166009478f4311e!8m2!3d36.2169662!4d-81.676184!16s%2Fg%2F11b8v61b0r