Pod takes down mini-bond posters over concerns of misleading potential investors June 22, 2018 Food-to-go operator Pod has taken down posters inviting customers to purchase mini-bonds from the company after concerns were raised that they could be misleading. The company has today opened its mini-bonds up to the public, with a goal of raising at least £200,000 to support expansion. But in the run-up to the launch, the company [...]
House of Fraser CVA approved June 22, 2018 House of Fraser's creditors are have agreed to a rescue plan which will result in 31 store closures. Creditors including landlords and suppliers met to vote on the company voluntary arrangement (CVA) today, and have passed the proposal with no amendments. “The approval of the CVAs is a seminal moment in House of Fraser’s history," [...]
Pure Gym buys Soho Gyms to bulk up London presence June 22, 2018 Pure Gym has snapped up the 10-strong London Soho Gyms chain and will convert all the branches to the Pure format. The addition of the Soho portfolio, which includes sites at Tower Hill and Farringdon, will bring the number of Pure sites in London up to 59. Pure charges significantly less than Soho, with a [...]
House of Fraser landlords, lawyers and property advisers slam ‘disappointing’ CVA vote June 22, 2018 Landlords have been left disappointed after House of Fraser's CVA was passed today, with some even considering legal action. Creditors threw a lifeline to the department store chain by approving rescue plans that will result in half of the retailer's sites being closed. Possible legal challenge Two advisers to a group of the affected landlords [...]
Pure Gym buys Soho Gyms to bulk up London presence June 22, 2018 Pure Gym has snapped up the 10-strong London Soho Gyms chain and will convert all the branches to the Pure format. The addition of the Soho portfolio, which includes sites at Tower Hill and Farringdon, will bring the number of Pure sites in London up to 59. Pure charges significantly less than Soho, with a [...]
House of Fraser closure vote looms as politicians fear jobs cuts and end to iconic stores June 21, 2018 Politicians and landlords fear thousands of job losses and the death of beloved high street stores ahead of House of Fraser’s vote on store closures tomorrow. The struggling retailer’s creditors will decide tomorrow whether to approve a company voluntary arrangement (CVA), which will result in 31 of the 59 House of Fraser stores closing down. [...]
Ocado shares rise as it is dubbed the ‘Microsoft of retail’ June 20, 2018 Shares in online grocer Ocado climbed more than six per cent in early trading today, after a broker called it the "Microsoft of retail". The newest entrant to the FTSE 100 was the top riser this morning, leading the way in the All-Share index as well as the blue-chip benchmark. The boost came after analysts [...]
Ocado shares rise as it is dubbed the ‘Microsoft of retail’ June 20, 2018 Shares in online grocer Ocado climbed more than six per cent in early trading today, after a broker called it the "Microsoft of retail". The newest entrant to the FTSE 100 was the top riser this morning, leading the way in the All-Share index as well as the blue-chip benchmark. The boost came after analysts [...]
Why Debenhams has had three profit warnings in a year and could Mike Ashley help? June 20, 2018 City grandee Crispin Odey, whose hedge fund holds a short position in Debenhams, said last year that the retailer was in a race with House of Fraser “as to who will go down first”. While House of Fraser’s fate will be sealed at its CVA on Friday, Debenhams’ future looks dark, with the embattled department [...]
London restaurants Albion, Parabola and Lutyens close as Sir Terence Conran and Peter Prescott venture folds June 20, 2018 Another string of restaurants in London have closed after the company Prescott & Conran went into administration. Albion, a British cuisine restaurant in Clerkenwell, closed today, as did Lutyens in Fleet Street and Parabola in Kensington. Another restaurant in the portfolio, Covent Garden's Les Deux Salons, closed in March. Today Duff & Phelps announced that [...]