BUSINESS BRIEFS
KB Toys closing 2 Hawai'i stores

Advertiser Staff

KB Toys, the nation's No. 2 specialty toy retailer which filed for bankruptcy protection earlier this month, said yesterday it is closing two stores in Hawai'i.

The stores at Pearlridge Center in 'Aiea and Kukui Grove Center in Lihu'e on Kaua'i will be shut down. The company released a list of 375 of its 1,217 stores that will be closed as it restructures.

"These stores are underperforming or do not fit with KB Toy's strategic plans," said CEO Michael Glazer in a news release.

Health system head to retire

Hawaii Pacific Health president and chief executive officer Roger Drue — who led the merger of Kapi'olani Health, Straub Clinic & Hospital and Wilcox Health System more than three years ago — is retiring this summer.

That move leaves the company created by the merger, Hawaii Pacific Health, looking for his replacement in a search that began this week. Drue told colleagues that he turns 61 this year and is ready to retire.

Hawaii Pacific Health employs more than 5,000 people through 23 clinics and various community outreach programs on O'ahu, Kaua'i, Lana'i and the Big Island.

Hawaii Pacific Health Board Chairman Jack Tsui credits Drue for leadership through a difficult time of rising healthcare costs and dwindling reimbursements from government and insurance.

Norwegian ship to be remodeled

Norwegian Cruise Lines said the 2,000-passenger Pride of Aloha, which will be used for interisland cruises beginning in July, will undergo a multimillion dollar remodeling in San Francisco in May. The remodeling will include painting the ship with a Hawai'i-themed design by artist Linda Umstead.

42 Big Island condos sold

Centrex Destination Properties said yesterday it has sold 42 condominiums and 10 custom home sites at the Waikoloa Beach Resort, a gated community on the Big Island.

Dallas-based Centex Corp. says the development will include 126 condominiums and 12 home sites when completed.