City Pub Group share price rises as it returns to profit after 2017 loss April 9, 2019 City Pub Group pulled itself back into profit in 2018, it revealed this morning, as it said it intends to continue its expansion in London and the south east. Read more: City Pub Group sales rise amid string of acquisitions Its shares opened 7.3 per cent higher on London's Alternative Investment Market (Aim) this morning, [...]
Confidence hits new low but spending climbs amid sunny weather April 9, 2019 Confidence in the UK economy tanked to its lowest level in five years last month, as shopping sentiment wavered in the wake of Britain’s imminent departure from the EU. Uncertainty over Brexit has pushed confidence to its lowest level since Barclaycard began recording data in 2014, with almost seven in ten respondents saying they are [...]
Sports Direct says Debenhams has rejected £150m equity offer as pre-pack administration looms April 8, 2019 Sports Direct has said that Debenhams spurned a £150m equity offer from Mike Ashley, in a sign that the embattled retailer is inching closer towards a pre-pack administration. Read more: Debenhams shares slump as shareholders risk losing everything In a statement this afternoon Sports Direct said that the department store chain, which is set to hand ownership [...]
Sir Philip Green complaint against Lord Hain gets dismissed April 8, 2019 Sir Philip Green’s complaints against a peer who named him as the man at the centre of sexual harassment and racial abuse allegations were dismissed this afternoon. Read more: Top financial PR firm cuts ties with Sir Philip Green amid allegations The House of Lords standards body has dismissed a complaint from the retail tycoon [...]
UK inflation expectations remain at five-year high April 8, 2019 The British public’s expectations of inflation for 2019 stayed at their highest level in five years, new Bank of England data revealed today. Read more: Inflation edges up from two-year low as food and alcohol prices rise Britons expect the inflation rate – the speed at which prices increase over time – to be at 3.2 per [...]
Debenhams shares fall into the red as investors eye deadline for Sports Direct offer April 8, 2019 Debenhams shares dipped five per cent in early afternoon trading today, falling from a 15 per cent rise this morning as the deadline for a pre-pack administration draws near. The embattled department store chain is set to hand ownership to lenders tomorrow if Sports Direct fails to reach an agreement with the retailer by the end [...]
Raising the bar: Beer firm Brewdog kicks off sixth fundraising round with £1m prize draw April 8, 2019 Brewery chain Brewdog is to launch a sixth fundraising round, which features a prize draw to win £1m worth of shares in the firm. The firm announced the equity fundraising at its general meeting last week, which comes in a bid to raise £7m and expand its shareholder base to 200,000 people. Read more: Brewdog [...]
Sports Direct owner Mike Ashley confirms £150m equity offer for Debenhams as it considers 5p per share takeover April 8, 2019 Mike Ashley’s Sports Direct officially confirmed an offer to underwrite a £150m share issuance by Debenhams today on the condition that Ashley be made chief executive. The sports store chain said the underwriting of the equity issuance, which would see Sports Direct take on the financial risk involved in selling new equity to current shareholders to raise [...]
Hotels stump up for new business rate bills April 7, 2019 Some of London’s most iconic hotels are facing renewed pressure from rising property taxes, according to business rate experts who fear that the sector could be hit by the latest round of bills. Real estate services firm Colliers found that 93 London hotels have been charged with a combined total rates bill of £12.2m this [...]
Sports Direct makes £150m offer to underwrite Debenhams in bid to make Ashley CEO April 7, 2019 A bitter and hard-fought battle for control of one of Britain’s oldest department store chains descended into farce last night as Mike Ashley tussled with Debenhams to prevent the retailer from entering into a pre-pack administration. In his latest efforts to ramp up pressure on the chain’s board, the Sports Direct owner last night accused [...]