Bonmarche fights back against Philip Day’s £5.7m takeover bid April 12, 2019 Bonmarche today hit back at a cut-price takeover bid from entrepreneur Philip Day, saying it “materially undervalues” the struggling retailer’s future prospects. The French-themed fashion chain urged shareholders to take no action on the 11.445p-per-share offer from Day’s Dubai-registered Spectre Group. Read more: Bonmarche jobs and stores set to go in cut-price rescue deal The [...]
More than 2,000 jobs at risk as Edinburgh Woollen Mill collapses into administration November 6, 2020 High street giant Edinburgh Woollen Mill has collapsed into administration, putting more than 2,000 jobs at risk in the latest blow to the beleaguered UK retail sector. The firm, which is owned by billionaire businessman Philip Day, has appointed FRP Advisory as administrators to its Edinburgh Woollen Mill and Ponden Home brands, it announced this [...]
Bonmarche shares drop as billionaire Philip Day snaps up retailer in cut-price deal April 2, 2019 Edinburgh Woollen Mill Group owner Philip Day is set to take struggling retailer Bonmarche private in a deal that values the firm at just £5.7m. Bonmarche has been plagued by profit warnings, issuing its third in late March when it told investors to expect up to a £6m loss due to “significantly weaker” March trading. [...]
Next pulls out of plans to buy Topshop-owner Arcadia January 21, 2021 Next has backed out of plans to buy Sir Philip Green’s collapsed retail empire Arcadia Group, potentially putting up to 13,000 jobs at risk. In a statement, the high street chain said it had withdrawn from plans to buy the Topshop owner because it was “unable to meet the price expectations of the vendor”. “Next [...]
New Philips CEO slashes 4,000 jobs in bid for financial turnaround October 24, 2022 Philips is set to cut around 4,000 jobs – the equivalent of five per cent of staff – in Roy Jakobs’ first major move as CEO. The Dutch conglomerate has had its sales fall for more than a year and has ultimately become loss-making. The job losses will be based in the US and the [...]
Philip Day steps back from race to buy collapsed high street shoe store LK Bennett March 31, 2019 Philip Day, the billionaire owner of retailer Edinburgh Woolen Mill, has removed himself from the competition to buy collapsed shoe seller LK Bennett. The retail tycoon had lodged a bid with administrators at EY, joining Sports Direct boss Mike Ashley, as well as Chinese fashion entrepreneur Rebecca Feng and former LK Bennett chief executive Darren [...]
Mega-merger on the way as Mondi set to buy UK rival DS Smith for £5.1bn March 8, 2024 Mondi is set to buy its smaller rival DS Smith for £5.1bn, the firms revealed in a stock exchange announcement. The deal, which had been rumoured since last month, saw Amazon packaging giant DS Smith’s shares jump 11 per cent on the day. Now, the two firms confirmed the agreement for a possible takeover, which [...]
Ashley set to enter bidding war for Jaeger October 25, 2020 Controversial High Street titan Mike Ashley is readying a bid for struggling retailer Jaeger, reports emerged today. Ashley’s Frasers Group, one known as Sports Direct, is understood to be interested in adding Austin Reed, Jacques Vert and Jaeger to his expanding portfolio. The news was first reported by the Sunday Times. Read more: Ashley plots [...]
We have to speak out, so we can build up April 27, 2023 In his debut column for Crypto AM, Philip Vasquez - co-founder of Damex.io - introduces The Damlex Journals - an honest view of digital assets.
Arteta, Sunak and WFH: How the quarter-zip took over the City November 4, 2023 It has become ubiquitous - from fintech marketing teams to the corner corporate office. And the quarter-zip fleece, the new must-have for any man about town, doesn't appear to be going anywhere soon.