Sports Direct’s Mike Ashley makes move for Links of London September 9, 2019 Retail magnate Mike Ashley is hoping to ramp up his high street spending spree after putting in an offer for troubled jewellery group Links of London. The Sports Direct owner is tabling a bid to snap up the retail outlet, according to Sky News, which has reported that Ashley is one of two final bidders [...]
Shares in concierge firm Ten Lifestyle rise as it lifts full-year forecasts September 9, 2019 Shares in Ten Lifestyle ticked up this morning after the travel and concierge firm said it expected annual loss to be narrower than previously forecast. Read more: Nearly all BA flights cancelled as pilot strikes begin In a trading update ahead of its full-year results, Ten said it is set to report net revenue in [...]
Intu shares jump on reports of Orion Capital buyout September 9, 2019 Shopping centre owner Intu led the FTSE risers this morning following reports of a potential buyout led by Orion Capital Managers. Read more: Intu share price fall continues after dividend cancellation Orion, run by private equity tycoon Aref Lahham, is said to be seeking partners for a buyout of the struggling company, which has felt [...]
Primark store expansion plan offsets sales slump September 9, 2019 Primark is expected to report sales growth in its full-year results driven by the bargain retailer’s store expansion plan. Sales for the full-year, which will be announced in November, are expected to be four per cent up on last year, the retailer’s owner Associated British Foods (ABF) said in a trading update this morning. The [...]
HMRC collects £4.4bn from SMEs through investigation of underpaid VAT September 9, 2019 The taxman collected an extra £4.4bn from small and mid-sized businesses through investigations into the underpayment of VAT last year, up 18 per cent from £3.8bn collected in 2017-18. Over £1.7bn was collected from VAT investigations into small businesses alone last year, according to tax investigation insurance firm PFP. PFP said the growth in the [...]
Retail footfall drops again in August as economy slows September 9, 2019 The number of Britons venturing out to visit shops fell again in August, bringing yet more problems for a retail sector that has suffered a number of casualties this year. Read more: Hot weather fails to heat up retail sales in August Footfall fell by 1.3 per cent in August year on year, compared to [...]
Pubs cash in on bank holiday heatwave but fears grow for restaurant sector September 9, 2019 A sunny spell through the August bank holiday helped London watering holes increase their late-summer sales, according to a closely-followed industry measure. Thirsty punters gravitated to drink-led pubs in the capital, which enjoyed a five per cent like-for-like boost in sales compared to the same period last year. Read more: Wetherspoons toasts no-deal Brexit by [...]
Not in the pink anymore: Jack Wills collapse leaves creditors out of pocket September 8, 2019 Jack Wills owed over £100m to creditors including HSBC and several councils when it collapsed into administration last month. The preppy clothing brand was bought by Mike Ashley’s Sports Direct for £12.8m in August, faces leaving a slew of companies out of pocket. Read more: Jack Wills stores at risk as Sports Direct kicks off [...]
Sainsbury’s planning major changes to struggling bank arm September 8, 2019 Sainsbury’s is plotting a radical overhaul of its loss-making banking arm as it reconsiders its business model in the wake of its failed merger with Asda. Read more: Sainsbury’s partners with Deliveroo on pizza takeaway service The household name is weighing up its options ahead of a meeting with investors in two weeks’ time. The [...]
Thomas Cook in stand-off with pension scheme trustees over £900m rescue deal September 7, 2019 Thomas Cook’s pension scheme trustees are demanding improved terms to back a £900m rescue of the tour operator. The pension scheme is seeking equity in the restructured company, as well as funding guarantees from the new owners and a commitment to continue the existing annual contributions of more than £25m, according to Sky News. Read [...]