Typhoo Tea rescued out of administration in £10m deal by vapes giant December 1, 2024 Typhoo Tea has been rescued out of administration by a vapes, batteries and vitamins seller for more than £10m. The trade and selected assets of the Bristol-based company have been acquired by Manchester-based Supreme, which is listed on the London Stock Exchange’s AIM, for £10.2m. In a statement, Supreme said the deal includes Typhoo Tea’s stock [...]
Lacoste: Flagship London store fails to boost sales as label falls to loss November 29, 2024 The opening of a flagship store in London’s Regent Street failed to stop the UK arm of sports fashion label Lacoste entering the red, it has been revealed. The business has reported a pre-tax loss of £3.2m for 2023, according to delayed accounts filed with Companies House. The results for the brand also show its [...]
Typhoo Tea: How trespassers and losing £120m led to downfall of historic brand November 29, 2024 Despite not making a profit since 2017, the management running Typhoo Tea had still been optimistic for 2024 just months before the historic brand crashed into administration. Writing in its latest accounts, the company’s directors stated they were “excited” for the 2024 financial year, proclaiming that “legacy issues have been largely dealt with and the [...]
Retailers pin hopes on Black Friday and Christmas after footfall tumbles November 29, 2024 The holiday season could bring much more than some festive cheer this year.
Typhoo Tea rescue deal eyed up by vapes giant Supreme November 28, 2024 Supreme, which sells products such as vapes and vitamins, is eyeing up a rescue deal for Typhoo Tea after the 120-year-old brand collapsed into administration. Greater Manchester-headquartered Supreme has confirmed it is “currently participating in a process regarding the potential acquisition” and added that discussions are at ‘an advanced stage”. However, the company said that [...]
Typhoo Tea collapses into administration with over 100 jobs at risk November 28, 2024 Typhoo Tea has collapsed into administration in a move that has put more than 100 jobs at risk. The Bristol-headquartered business has appointed Kroll to oversee the administration process. The move comes after it was revealed earlier in November that Typhoo Tea was on the brink of collapse. A spokesman for Kroll said: “As reported [...]
Morrisons expands use of Ocado’s grocery-picking software in store November 28, 2024 Ocado has announced it will work more with Morrisons in-store and less via fulfilment centres as the latter company recalibrates the operations of its online grocery arm. Morrisons, which has been working with Ocado since 2013, will “gradually cease” deliveries from Ocado’s Erith fulfilment centre, in the south east Ocado said in a statement this [...]
Mike Ashley’s Frasers Group snaps up South African sports retailer November 26, 2024 Frasers Group, the retail empire founded by billionaire Mike Ashley, has continued its global expansion with the acquisition of a South African company. The London-listed group, which already owns the likes of Sports Direct and House of Fraser, has snapped up sporting, outdoor and recreation goods company, Holdsport Group, for an undisclosed sum from the [...]
Profit quadruples at biscuit maker Tunnock’s despite chocolate crisis November 26, 2024 Profit at biscuit maker Tunnock’s quadrupled during its latest financial year despite the cocoa crisis in Africa. The Scottish confectionary business, which is headed up by Sir Boyd Tunnock, has reported a pre-tax profit of £4m for the 12 months to 24 February, 2024, according to newly-filed accounts with Companies House. The latest figure comes [...]
AO World: Double-digit growth ahead of musicMagpie deal November 26, 2024 Electrical retailer AO World has announced double-digit growth in retail revenue and operating profit as it continues its “laser focus” on cost and efficiency ahead of its acquisition of musicMagpie. Business-to-consumer retail revenue grew by 13 per cent year on year in the six months ended 30 September from £339m to £382m, AO World told [...]