Fever pitch: Battle for Ted Baker intensifies as new owners set to face post-pandemic high street ‘challenges’ April 4, 2022 Fashion chain Ted Baker has seen its share price boom after kicking off a formal sale process, with a third US private equity proposal. Analysts said the proposal comes as valuations of British companies have fallen in the wake of the pandemic and Brexit. Ted Baker has received an improved proposal from Sycamore, in addition [...]
Bidding war looming: Ted Baker launches formal sale process as retail giant receives yet another takeover offer April 4, 2022 Ted Baker has launched a formal sale process after receiving a third takeover move by US private equity suitor Sycamore Partners. Shares in the company jumped on Monday morning after the fashion brand said it had also received another “unsolicited” approach by an unnamed party. It comes a week after Ted Baker rejected two takeover [...]
Hospitality firms receive less than half of £635m Omicron support package despite fierce struggle to survive April 4, 2022 New analysis has found that hospitality firms in England affected by Omicron have received less than half of the £635m support package promised by the Government. The Treasury announced funding in December to provide a lifeline for businesses suffering from mass cancellations and declining footfall over the Christmas period when the Omicron variant of coronavirus [...]
BrewDog chairman picks row with HR adviser over employee platform April 4, 2022 BrewDog’s chairman Allan Leighton picked a row with the HR firm brought in to improve relations between staff and management. Leighton accused consultant Hand & Heart of “amplifying attacks” on the management team, after the HR firm set up a platform where BrewDog workers could submit their feedback regarding the company. In a letter to [...]
Raising a toast: Beer sales return to pre-pandemic glory as pub goers ditch wine and spirits April 4, 2022 Beer sales have brewed a comeback with 1.1bn more pints sold last year than in 2020. Some 4.6bn litres of beer was sold in 2021, up 13 per cent on 2020. Lockdown drinkers opted for spirits, causing beer sales to plummet, but pints regained popularity when pubs reopened. Wine and spirits saw a drop of [...]
Hospitality venues receive less than half of £635m Omicron support package April 4, 2022 Hospitality businesses in England received less than half of a £635m support package promised at the end of last year to make up for Omicron cancellations. Just £305m was paid out less than three weeks before the final cut off, analysis by the Altus Group revealed. The Treasury had announced one-off grants worth up to [...]
Lush lathers up for return to profit amid buy out of US partner April 3, 2022 Soap-seller Lush has bought out its US partner in a bid to almost double its sales in the UK. According to The Financial Times, the high street name is eager to pump cash into rebuilding its UK operations after they took a hit amid Covid restrictions. The retailer returned to profit in its last financial [...]
Whitbread searching for new CEO as Alison Brittain plans to step aside April 3, 2022 The hospitality powerhouse behind Premier Inn is hunting for a chief executive to replace Alison Brittain. Brittain is readying to step aside from her role heading Whitbread, following seven years in the top job, according to The Sunday Times. Headhunters at Spencer Stuart have been hired by Whitbread to find a suitable replacement for Brittain. [...]
Fast fashion: Shein raising funds at £100bn after IPO plans delayed amid Russia conflict April 3, 2022 Chinese fast fashion retailer Shein is reportedly eyeing a funding round at a valuation of some $100bn. The Gen Z e-commerce giant is in talks with potential investors to raise around $1bn, according to a report from Bloomberg, citing people familiar with the matter. Bosses are still mulling over the plans, with potential for details [...]
Pop-up firm Sook tops £1m sales as Instagram businesses dabble with bricks-and-mortar retail April 1, 2022 Pop-up retail company Sook has hit £1m sales, with CEO John Hoyle telling CityA.M. an “explosion” of social media brands are looking for flexible spaces. Speaking to CityA.M., Hoyle said small businesses who use TikTok and Instagram are increasingly keen to venture into physical retail on a flexible basis. The company has seven spaces in [...]