The Hut Group wards off potential buyers as it gears up for Acheson & Acheson takeover September 3, 2018 Online beauty retail company The Hut Group (THG) has rebuffed a series of takeover deals as it looks to expand its own acquisition spending spree. A number of offers valuing the firm at almost £4bn have been turned away by the fast-growing technology company, according to reports from Sky News last night. While strategic and [...]
Sports Direct boss Mike Ashley could face a shareholder revolt this week at its annual general meeting September 2, 2018 Sports Direct boss Mike Ashley could face a shareholder uprising at the retail giant’s annual general meeting (AGM) on Wednesday. Influential shareholder advisory groups ISS and Glass Lewis have both urged investors to vote against Mike Ashley’s re-appointment as chief executive and have also come out against chairman Keith Hellawell. Ashley, who is currently struggling [...]
Gourmet Burger Kitchen latest restaurant chain to hire restructuring experts September 2, 2018 Gourmet Burger Kitchen has hired restructuring advisers as it falls prey to a slump in high street dining. The Famous Brands-owned restaurant chain, which has more than 100 sites, has recruited Deloitte in a bid to secure rent reductions and cut deals with landlords. A company voluntary arrangement (CVA), a procedure that allows companies in [...]
Tickets purchased through Viagogo rendered invalid at festival September 1, 2018 Ticket reselling platform Viagogo has hit a further hurdle after a music festival banned tickets sold through the website. The latest blow comes the day after the Competition and Markets Authority launched legal action against the site after it failed to make required changes. Read more: The competition watchdog is taking Viagogo to court Tickets purchased [...]
Mike Ashley will be absent from this year’s Sports Direct AGM August 31, 2018 Mike Ashley will not face investors at this year’s Sports Direct AGM, due to “overriding demands on his time”. Chairman Keith Hellawell will chair the meeting on 12 September as planned, but the company’s founder and chief executive will be absent, Sports Direct said in an announcement this afternoon. Mike Ashley’s acquisition of House of Fraser at the [...]
Creditors approve plan to close 42 Homebase stores August 31, 2018 Creditors have thrown DIY store Homebase a lifeline and approved the closure of 42 stores and rent cuts on several others. At a meeting held today in London, creditors passed the proposals with 95.9 per cent voting in favour. Damian McGloughlin, chief executive of Homebase, said: “We are pleased that an overwhelming majority of our creditors, [...]
Costa sold to Coca-Cola: Here’s how the City reacted August 31, 2018 Coca-Cola is buying Britain's biggest coffee chain Costa in a deal valued at a whopping £4bn. Following this morning's surprise announcement, City analysts were quick to react. The high price paid, the opportunities for expansion, and the future of Whitbread all came under the microscope. Here's a few of the talking points. A coffee battle [...]
Coca-Cola scoops up Costa August 31, 2018 | City Talk For some time Whitbread CEO Allison Brittain has swatted aside speculation that the company should divest itself of its Costa coffee business saying that it didn’t make sense to do so in the middle of a restructuring program. In April she bowed to investor pressure but said that the process could take up to two [...]
Coco Cola scoops up Costa August 31, 2018 | City Talk For some time Whitbread CEO Allison Brittain has swatted aside speculation that the company should divest itself of its Costa Coffee business saying that it didn’t make sense to do so in the middle of a restructuring program. In April she bowed to investor pressure but said that the process could take up to two [...]
Red tape for Red Bull: The ban-happy nanny state is coming for energy drinks August 31, 2018 I don’t remember the last time I saw a six-year-old queuing for a cappuccino in Pret. Nor have I ever noticed one standing in line, with their own cash, paying for their fizzy drink of choice over the counter at corner shop. That’s because realistically these instances cannot happen without the assistance of an adult, who [...]