House of Fraser partner threatens legal action over store’s debt against administrators EY October 8, 2018 A House of Fraser concession partner is considering legal action against the company’s administrator EY, claiming its classification of his business will cost him hundreds of thousands of pounds. Ehab Shouly, who runs three tea rooms in House of Fraser stores, says he is owed over £300,000 from the company – the equivalent of two [...]
French Connection founder Stephen Marks could sell 42 per cent stake, company confirms October 8, 2018 The founder of French Connection is looking to sell, 46 years after creating the fashion brand, the company has confirmed. Stephen Marks is looking to offload his 42 per cent shareholding and has started approaching potential buyers. The company said it is “currently reviewing all strategic options in order to deliver maximum value for its [...]
Pret a Manger supplier hits back at claims its products killed a second allergic customer at sandwich shop in 2017 October 8, 2018 A Pret a Manger supplier has hit back at claims that its yoghurt killed an allergic customer. Pret a Manger says a supposedly dairy-free yoghurt from supplier Coyo contained traces of a dairy protein, causing the death of a customer in its Bath store on 27 December last year. It is the second recent death [...]
Amazon eyes British retail space for grocery stores October 7, 2018 Online retail giant Amazon is eyeing up the acquisition of several sites in Britain to develop its checkout-free grocery business. The Sunday Times yesterday quoted sources as saying Amazon wanted stores of between 4,000 sq ft and 5,000 sq ft to house Amazon Go, an arm of the business that uses technology to track the [...]
Leading bookie calls for ban on TV gambling ads before watershed October 7, 2018 The boss of one of the UK's biggest bookmakers will this week call for a ban on gambling adverts being shown before the 9pm watershed. Kenny Alexander, chief executive of Ladbrokes and Coral owner GVC, told City A.M. the number of ads appearing during football games had got "out of hand" as he called for the rest of [...]
French Connection chief seeks to sell off controlling stake October 6, 2018 French Connection founder Stephen Marks is sounding out potential buyers for his controlling stake in the retailer, it emerged today, in a deal which could trigger a takeover of the whole business. Advisers from Numis Securities, acting on Marks' behalf, have been speaking to prospective bidders this week about the 42 per cent shareholding, sources [...]
Sports Direct’s Mike Ashley tees off in bidding war for American Golf October 5, 2018 Sports Direct owner and retail tycoon Mike Ashley is set to expand his business empire further, as it suggested he has tabled a bid for Britain's largest golf retailer American Golf. Ashley is among a number of interested parties in the American Golf takeover, including JD Sports Fashion, sources told Sky News. Deloitte, who is advising [...]
Intu shares soar nearly 30 per cent on John Whittaker takeover rumours October 5, 2018 Shares in property group Intu have rocketed nearly 30 per cent on rumours of a possible takeover from a consortium led by John Whittaker's Peel Group. The other investors led by the British billionaire include Canada's Brookfield Asset Management and Saudi Arabia's Olayan Group. Intu owns some of the UK's most well-known shopping centres, including the Trafford Centre [...]
Waitrose trials ‘in-home’ delivery service while you’re at work October 5, 2018 Waitrose is testing out a new service where it will put away your food shopping for you while you're out, enabling more customers to receive home deliveries during the work week. Using smart lock technology, customers will be able to grant access to Waitorise drivers by setting a temporary passcode which is then deleted once the [...]
Unilever’s board has now lost the Lynx effect with UK investors, a new era for spin city and a hand from above October 5, 2018 How ironic that one of the world’s great consumer marketing machines – responsible for brands like Lynx, Persil and Magnum – should be making such a hash of a sales pitch to its own investors. Unilever’s insistence that it remains “confident” of winning this month’s vote to scrap its British headquarters sounds more strained by the [...]