Just Eat and Takeaway.com agree terms on £8.3bn merger August 5, 2019 Just Eat and merger partner Takeaway.com have agreed terms on a $10bn (£8.3bn) merger, valuing the former’s shares at 731p. However, that figure falls below the 736p figure shares hit at the close of London Stock Exchange trading last Friday, raising the possibility that a rival bidder could emerge. Read more: Just Eat profits plunge [...]
Events app Fever books $35m in funding round led by Rakuten August 5, 2019 Events platform Fever has secured $35m (£28.8m) in fresh investment following a funding round led by Japanese internet giant Rakuten. Fever, which lists entertainment events in more than a dozen cities worldwide, said the cash injection will fund investment in technology and expansion in new markets. Read more: Onecom bags £100m in funding as it [...]
UK hotel profit soars as Brits holiday at home August 5, 2019 The top 100 UK hotel groups saw profit break the £1bn barrier last year as the weak pound pushed Brits to holiday at home. Profit rose 83 per cent year-on-year from £583m as overseas tourists were also encouraged to visit the UK. Read more: Mandarin Oriental profit slump despite Hyde Park hotel reopening Revenue was [...]
Innovation boosts online retail sales August 5, 2019 Sales at the UK’s largest online retailers have risen 16 per cent to £8.2bn in a year as the popularity of e-commerce-only brands soared. Retailers that only trade online reported a 31 per cent increase in sales, rising to £3.4bn in the year to 30 June from £2.7bn the previous year. Read more: Westfield owner [...]
Mike Ashley’s Sports Direct closes in on Jack Wills deal August 4, 2019 Retail tycoon Mike Ashley’s Sports Direct has emerged as the favourite to buy struggling fashion brand Jack Wills Sports Direct is the preferred bidder for the retailer and a deal could be struck as soon as tomorrow, Sky News reported. Read more: Mike Ashley and Philip Day in battle to buy Jack Wills Sources told [...]
Naked Wines hopes US float will be recipe for success after Majestic sale August 4, 2019 Online wine retailer Naked Wines is said to be preparing for a US listing following the sale of sister company Majestic. Chief executive Rowan Gormley has told investors he plans to list the firm on the tech-heavy Nasdaq exchange once the sale of Majestic goes through, the Sunday Times reported. Read more: Majestic Wine sells [...]
Mike Ashley and Philip Day in battle to buy Jack Wills August 3, 2019 High street giants Mike Ashley and Philip Day are embroiled in a battle to takeover Jack Wills, which is on the brink of administration. The billionaires’ companies, Sports Direct and Edinburgh Woollen Mill, are the two remaining bidders for the fashion chain, according to Sky News. Read more: Majestic Wine sells brand and stores for [...]
Majestic Wine sells brand and stores for £95m to focus on Naked Wines August 2, 2019 High street retailer Majestic Wine is set to sell all its stores as well as its brand for £95m as it transitions into an online-only company. US private equity firm Fortress is buying the outlets, securing 1,000 jobs as it committed to keeping the 200-store network, which had a turnover of £300m last year. Read [...]
KPMG appointed administrators as Laterooms and Superbreak collapse affecting thousands of holiday-goers August 2, 2019 KPMG has been appointed as administrators to Laterooms and Superbreak following the companies collapses on Thursday. Both firms are owned by the Malvern Group, which has ceased trading, after Cox & Kings India, which owned a 49 per cent stake in the company, defaulted on loan repayments. Read more: Pets at Home set to beat [...]
Pets at Home set to beat profit expectations as revenue jumps 10 per cent August 2, 2019 Pets at Home revealed that its revenue had grown by 9.9 per cent to £303.4m for the period 29 March to 18 July in a scheduled trading update released today. Retail revenue was up 8.7 per cent to £266.4m and vet group revenue was up 18.8 per cent to £37m for the period this year, [...]