On the move: Whitney Bank announced today that it will relocate its regional headquarters in downtown New Orleans into a space at One Shell Square on Poydras Street in the city’s Central Business District. Whitney says it plans to rename the 51-story building Hancock Whitney Center and will move all of its 400 employees and operations into seven unoccupied floors in the Poydras Street building next year. The bank also plans to open a new marque financial center on the building’s second floor.
Permit pending: Monkey Island LNG, formerly SCT&E LNG, is preparing to start the federal permitting process for its Cameron Parish project—one of 10 liquefied natural gas export terminals being developed in southwest Louisiana. The American Press reports the California-based company recently hired global engineering firm AECOM to guide it through the Federal Energy Regulatory Commission prefiling stage and application, a review process that each LNG project is required to complete. Read more.
Off the menu: The parent company of Applebee’s and IHOP is planning to close upwards of 160 restaurants. USA Today reports some 105 to 135 Applebee’s restaurants will close. Also on the chopping block are an estimated 20 to 25 IHOP sites. The company declined to release a list of locations that will be shuttered. The casual-dining segment, where both chains are positioned, is experiencing increased troubles as more customers have gravitated to the quick-service restaurants like Panera Bread or Chipotle Mexican Grill, many of which market themselves as offering healthier and more upscale food. Read more.
