Ministry of Sound to convert House of Fraser store to lure Londoners to ‘fitness raves’ in Shepherd’s Bush June 23, 2022 Nightclub group Ministry of Sound said this morning it plans to convert a former House of Fraser store in west London to hold ‘fitness raves’ for Londoners. The building will also be turned into flexible offices, a gym as well as a rooftop bar. The group said it plans to start converting the 115,000 sq ft department [...]
Boohoo poaches Trainline CFO weeks after retailer saw first-ever sales drop June 23, 2022 Boohoo has poached Trainline’s former finance lead as its new chief financial officer (CFO), just weeks after the retailer posted its first-ever sales drop. It comes amid a turbulent period for fast fashion brands. Rival retailer Missguided collapsed in late May, after being hammered by spiralling supply chain costs. Shaun McCabe, who has sat on [...]
Klarna boss slams Barclays for ‘mind boggling’ and ‘irresponsible’ BNPL research June 23, 2022 Klarna’s UK boss has hit out at Barclays today for publishing what he called “mind-boggling” and “irresponsible” research exploring mounting buy-now pay-later debt levels in the UK. Barclays Partner Finance – a division of the bank which offers its own regulated buy-now pay-later-style financing product – issued research today alongside debt charity StepChange warning that [...]
Gambling giant 888 predicts drop in half year revenues as restrictions bite June 23, 2022 British gambling giant 888 said today it expected revenues for the half year to dip as it feels the impact of stricter gambling measures and a temporary withdrawal from the Netherlands.
Barclays calls on retailers to help stop mounting BNPL debt crisis June 23, 2022 Barclays has sounded the alarm over rising buy-now pay-later debt today and called on retailers to step up and protect shoppers, warning that 876,000 Brits could be plunged into unmanageable debt this year without intervention.
Boots’ sole suitor rallies lenders as takeover concerns linger on June 22, 2022 Boots’ sole bidder is relying on four major lenders to get its £5bn-plus takeover closer to the finishing line. As first reported by Mark Kleinman for Sky News, the consortium of Apollo Global Management and Reliance Industries are pinning their hopes on Royal Bank of Canada, Credit Suisse, Santander and Bank of America to finance [...]
Mike Ashley’s Frasers Group ups stake in German fashion brand Hugo Boss, again June 22, 2022 Mike Ashley’s Frasers Group confirmed this morning it has increased its stake in luxury German fashion brand Hugo Boss once again. Frasers said it now has 3.4 million shares – a 4.9 per cent stake – in Hugo Boss and holds buy options over another 26 per cent shareholding. The group said its investment in [...]
JD Sports revenue jumps by £2.4bn in 12-months amid US expansion June 22, 2022 JD Sports’ revenue has jumped by nearly £2.4bn over the past year, after easing lockdown restrictions eased meant people could flock back to stores and sports events. Revenue jumped to a total of £8.6bn in the 12-months to 29 January, up from £6.2bn in the same period a year prior. The high street retailer has [...]
Entrepreneurship: Fintech Clear Junction named fastest growing founder-led firm in inaugural list June 22, 2022 The founder of the UK’s fastest growing founder-led firm has said the key to success is being “really, really” confident. Global payments solutions provider Clear Junction has topped the inaugural FEBE Growth 100 list, shared with CityA.M. on Wednesday. Backed by former BBC Dragons Jenny Campbell and Sarah Willingham, the Growth 100 ranks firms by [...]
O2 partners with instant grocery firm Gopuff to deliver goods to gig goers June 22, 2022 The O2 has announced a multi-year partnership with Gopuff, the instant grocery, food and drinks delivery firm.