The Pensions Regulator investigates Wilko family dividends retail The Pensions Regulator is scrutinising the dividends withdrawn from Wilko as part of an inquiry into the high street discount chain’s downfall. The chain collapsed in August, putting over 12,000 jobs at risk, and now family shareholders are facing pressures to fill a £56m deficit in its pension fund, the Sunday Times has reported. It [...]
Shein reaches £1bn in UK sales with tax bill of just £2.3m retail Last week it was reported that Mike Ashley’s Frasers Group was in talks to offload its online clothing brand Missguided to Shein. If the deal goes ahead it would be Shein’s first acquisition of a British firm and would further solidify its presence and weight in the Western retail space. The company made £1.1m of turnover [...]
Babcock boss plays down prospect of future takeover FOR SALE? The boss of Babcock has played down the prospect of a takeover amid the company's turnaround plan - who has labelled a sale "unlikely."
Crisis-hit CBI strikes emergency funding deal with banks September 24, 2023 The CBI has managed to secure emergency funding after the race to raise cash forced the scandal-hit lobby group to cancel its annual general meeting last week.
Asos: All eyes on pandemic poster child’s turnaround results September 24, 2023 Investors will turn their focus to online retailer Asos’s trading update on Tuesday to see if the digital fashion store has shown signs of a rebound, following its ongoing turnaround plan and bid to pick up the pieces after a post-pandemic lull. Asos was once the poster child of pandemic success, at its height buying [...]
Businessman jailed over Gray’s Inn bomb plot amid £1.4m legal wrangle September 22, 2023 A businessman suspected of being involved in an international money laundering ring who targeted two lawyers for Britain’s FBI by orchestrating a bomb plot against them has been jailed for eight years and two months. Jonathan Nuttall, 50, was convicted of conspiring with his driver, Michael Sode, and an ex-marine, Michael Broddle, to plant two [...]
Brexit ‘unpicked’? Starmer defends approach to EU as Tories go on the attack September 22, 2023 The Labour leader insisted there was no case for rejoining the EU, its single market or customs union after the Tories seized on comments suggesting he would not “diverge” from Brussels’ rules.
Starmer rejects ‘great rail betrayal’ tag – but refuses to commit to HS2 in full September 22, 2023 Sir Keir Starmer has insisted he is not guilty of the “great rail betrayal” that Labour has accused the Government of by not committing to building HS2 in full. Chancellor Jeremy Hunt has said the costs of the high-speed rail project to the North are “getting totally out of control” as Rishi Sunak refuses to [...]
Here’s when Wilko will close its final stores following collapse September 22, 2023 Wilko is to shut the doors of its last remaining stores on Sunday October 8 as the collapse of the historic retailer comes to a close. The hardware and furnishings retailer tumbled into administration last month after it came under pressure from weak consumer spending and debts to suppliers. The retailer will shut its final [...]
Mothercare swings to loss as it prepares to refinance debt September 22, 2023 Baby products brand Mothercare has revealed it swung to a loss over the latest year as it is set to complete a refinancing of its debts after interest rates shot up. The retailer said it was taking longer to return to pre-pandemic sales levels. Mothercare, which sells its ranges through retail giant Boots in the [...]