Pub companies: Is now the time to invest in a cheap pint? September 23, 2019 | City Talk Investors in Greene King are raising a glass in celebration after Hong Kong’s richest man, Victor Li, agreed to buy the UK’s largest publicly-listed pub and brewery company for £4.6 billion (including net debt). A unit of Li’s investment vehicle, CK Asset Holdings, has bid 850 pence per share – more than a 50 per [...]
Tui share price soars as rival Thomas Cook bites the dust September 23, 2019 Tui’s share price bumped up almost 10 per cent today after Thomas Cook fell into liquidation. Travel operator Tui saw shares rise just shy of 10 per cent before trimming gains to stand 7.7 per cent up at 903p in early trading as its rival collapsed under the weight of a £1.7bn debt mountain. Read [...]
Thomas Cook falls into liquidation as rescue talks collapse September 23, 2019 Thomas Cook has collapsed into liquidation after failing to find the £1.1bn required to keep it afloat. Talks collapsed overnight to sink the holiday firm, leaving around 150,000 British holidaymakers stranded abroad. Read more: Thomas Cook teeters on the brink as 11th hour talks look set to fail The government will now charter dozens of [...]
Mike Ashley kicks off £4m takeover for Goals Soccer Centres September 23, 2019 Goals Soccer Centre has said it is discussing a takeover bid with high street tycoon Mike Ashley after his Sports Direct said it wanted to take the company private, valuing it at £3.76m. Sports Direct, of which Ashley is the main shareholder, said it was offering 5p a share for the just over 80 per [...]
Thomas Cook teeters on brink as eleventh hour talks look likely to end in failure September 22, 2019 Thomas Cook was close to collapsing into administration tonight as eleventh hour talks with its lenders looked set to end in failure. The company’s creditors and the government were tonight anticipating that the world’s oldest travel operator would announce it was ceasing trading tomorrow, Sky News reported. Big Four accountancy firm KPMG was tonight being [...]
M&S finance boss heads for the exit September 22, 2019 Marks & Spencer has confirmed it is parting ways with its finance chief less than two years after he took on the role. The retail giant’s group chief financial officer Humphrey Singer is leaving the business in the latest high-profile departure to rock the company. Read more: UK retail sales unexpectedly fall in August Coming [...]
Feeling the heat: Carluccio’s waiters rise up in row over tips September 22, 2019 Waiters at Carluccio’s are hitting back at the restaurant chain after a change in tipping policy that has allegedly left them hundreds of pounds worse off per month. Employees at the Italian eatery have joined the Unite union in a bid to scrap a new policy that siphons off a great proportion of tips to [...]
Zac Goldsmith shared in £16m payout before All Star Lanes went bust September 22, 2019 Investors including Tory MP Zac Goldsmith, diamond mogul Anthony Oppenheimer and fund manager Jim Mellon are said to have shared in a £16m payout from a chain of bowling alleys just months before it went bust. All Star Lanes, which owns four bowling alleys in London, was sold to Risk Capital Partners last week as [...]
Thomas Cook on the brink of collapse: What happens now? September 20, 2019 Thomas Cook could collapse as early as Sunday if it cannot find another £200m to seal a rescue deal. The historic British company said it is in talks to find the extra cash with stakeholders like top shareholder Fosun and lenders. Read more: Thomas Cook’s share price crashes as investors demand another £200m But even [...]
Eve Sleep cancels Simba merger talks as it warns of revenue hit September 20, 2019 Eve Sleep has called off a potential merger with rival Simba Sleep as it said “now is not the right time” to make an acquisition. Eve, which overhauled its management team in March, has decided to focus on its own business recovery instead of the talks, which it confirmed were underway last month. Read more: [...]