Ex-BHS owner Dominic Chappell ordered to pay £9.5m into pension scheme January 14, 2020 Former BHS owner Dominic Chappell has been ordered to pay £9.5m into the collapsed department store’s pension schemes. The Pensions Regulator (TPR) announced today that Chappell’s acquisition of BHS, the appointment of inexperienced board members and the implementation of an “inadequate” business plan were detrimental to the company’s pension schemes. Read more: BHS buyer Chappell [...]
Boohoo hikes guidance after ‘record’ quarter January 14, 2020 Boohoo raised its full-year guidance this morning as it reported record trading during the final quarter of last year. The online fashion retailer’s shares jumped more than five per cent after it announced group revenue in the four months to 31 December was £473.7m, an increase of 44 per cent compared to the same period [...]
888 Holdings’ finance chief steps down after 15 years January 14, 2020 The finance chief of 888 Holdings is set to step down after 15 years with the gambling company. The online betting platform announced this morning that Aviad Kobrine will leave his role as chief financial officer this year. Read more: 888 Holdings reports first half profit dip Kobrine, who joined the firm in 2004 and [...]
Gambling firms’ shares slide following credit card ban January 14, 2020 Shares in several major gambling companies have fallen this morning after the industry watchdog announced it would ban betting using credit card deposits. The ban, which comes into effect from April, covers all online and offline betting, with the exception of “non-remote” lotteries including the National Lottery. Read more: Watchdog to introduce credit card gambling [...]
Watchdog to introduce credit card gambling ban from April January 14, 2020 The gambling watchdog today confirmed it will ban the act of betting with credit card deposits from April. The block will target all online and offline betting to clamp down on problem gambling, apart from “non-remote lotteries” like the National Lottery, where payments are taken face to face. “The ban that we have announced today [...]
Just Eat buyer Takeaway.com’s orders soar in fourth quarter January 14, 2020 Takeaway.com, the Dutch food delivery platform that has been cleared to buy British firm Just Eat for £5.9bn, reported that orders soared in the fourth quarter of the year. The company, which received shareholder backing to acquire Just Eat last week, said orders were up 56 per cent to 46,576, driven by growth of 137 [...]
Warhammer creator Games Workshop shares hit record high after bumper first half January 14, 2020 Games Workshop shares hit a record high this morning after it enjoyed rising profits over the first six months of the financial year. In a continuation of the success which has driven its share price up more than 1,000 per cent over the last five years, the Nottingham-based company behind the Warhammer game series said [...]
DFS sales slump but retailer reassures on profit January 14, 2020 Furniture retailer DFS reported a dip in sales in the second half of the year following “subdued” trading in August and September. The company said gross sales were down six per cent in the 26 weeks to 29 December, “reflecting a challenging consumer environment”. Read more: Sofa retailer warns fewer house sales will impact trading [...]
Department store Beales in crisis talks to stave off collapse January 13, 2020 Struggling department store chain Beales is in crisis talks with potential buyers in an effort to stave of a collapse that could cost hundreds of jobs. The talks come after the Bournemouth-based firm yesterday filed notice of its intention to appoint administrators to step in as a last resort if the firm cannot cannot be [...]
Troubled airline Flybe insists flights continue as normal amid survival funding talks January 13, 2020 Flybe’s chief executive today pleaded with employees not to give away details of its financial situation, as the struggling airline remained tight-lipped on reports that it is hurtling towards collapse today. Europe’s biggest regional carrier was rocked by suggestions that it is in a fresh battle for survival on Sunday night, less than a year [...]