Asda buyer TDR Capital marks 20-fold return on supermarket takeover with £1.4bn stake April 19, 2022 One of Asda’s owners has valued its stake in the supermarket at almost 20 times the sum it paid in a blockbuster takeover last year. According to The Financial Times, private equity firm TDR Capital informed investors it has placed its stake at 19.8 times the orginial investment in the grocer. The US firm, alongside [...]
Made.com boss: Shoppers holding back on homeware purchases amid pressure on budgets April 19, 2022 The boss of online furniture retailer Made has said shoppers have “held back” with purchases lately amid dramatic increases in the cost of living. Speaking to the PA news agency, chair Susanne Given said customers were more hesitant than usual due to rising inflation and war in Ukraine. She added: “The customer has definitely held [...]
Illegal Easter rave ended by police… 21 hours after force first ordered revellers to leave Dorset site April 18, 2022 An illegal rave that attracted more than 1,000 people has been dispersed 21 hours after police first ordered revellers to leave the site. The crowds descended on a site close to the village of East Lulworth at around half-past midnight on Sunday, Dorset Police said. The force cordoned off roads and ordered people to leave [...]
Made in Britain: As Brexit and Covid dismantle supply chains, boom in ‘reshoring’ leads to renaissance in UK manufacturing April 18, 2022 sAs the government admitted last week that there are ‘significant challenges’ to UK stock levels because of Brexit and Covid, is reshoring then perhaps the answer? Last week’s government report, from the Office for National Statistics (ONS), revealed the full extent of tumbling stock levels and broken global supply chains in the wake of Brexit and [...]
Next snaps up JoJo Maman Bebe April 17, 2022 Next and a group of finance firms have snapped up JoJo Maman Bebe in a push for the baby goods retailer.
Ocado pays out £20k following fire safety resignation April 17, 2022 Ocado is set to fork out £20,000 in damages after a former employee raised alarms about warehouse fire safety issues. The company is facing allegations that the worker was forced out of his job after he said the cardboard materials and pallets blocked fire exits. The Telegraph reported that court documents said a “witch hunt” [...]
Ted Baker founder Ray Kelvin backs Sycamore bid April 17, 2022 Ousted Ted Baker founder Ray Kelvin has given his support to taking the retail giant private following a rocky performance since his departure.
Bank Holiday shopping: High streets anticipate Easter weekend footfall boost April 16, 2022 High streets are set to receive a footfall boost over the Easter weekend as shoppers make the most of good weather. Retail insight firm Springboard has forecast footfall will rise 6.2 per cent week on week, across all retail destinations. A spike on Saturday will see footfall lifted some 13.3 per cent, from the week [...]
Fishermen leave vessels in ports and seafood price rises loom after fuel costs surge April 14, 2022 Some fishermen have been forced to leave their vessels in ports due to the surge in fuel prices, with fears seafood prices could spike further. According to a report in The Telegraph newspaper, the war in Ukraine has meant diesel prices have risen from 74p a litre in early February to highs of 151p. A [...]
Grocers see more than £1bn wiped off value after Tesco profit warning April 14, 2022 Supermarkets had a total of more than £1bn chipped off their market value on Wednesday, after a warning over inflationary pressures from Tesco. Grocers including Ocado and Sainsbury’s suffered poor performances on Wednesday, after Tesco warned that profit could be hammered by rising costs and shifts in shoppers’ behaviour. Ocado took a hit on the [...]