BHS administration: Who has blood on their hands as yet another retailer falls into administration? April 25, 2016 The loss of a UK retailing stalwart from our high streets is always a sad affair. There is, of course, a sense of nostalgia as old photos of where we once shopped appear. And the human tragedy of those losing their livelihoods – in the case of BHS that’s 10,000 current employees, and thousands more [...]
BHS is in administration: Here’s what analysts say was to blame (and what the future holds) April 25, 2016 BHS is in administration having notched up £1.3bn in debt, it has been confirmed this afternoon. Duff & Phelps has been appointed to handle the iconic retailer's administration, with managing directors Phil Duffy and Benjamin Wiles sounding confident about finding a new buyer. City A.M. understands more than 30 enquiries have already been made, and now [...]
BHS appoints Duff & Phelps administrators, putting 10,000 jobs at risk – but more than 30 bid enquiries have already been made April 25, 2016 More than 30 enquiries to buy BHS out of administration have been made since reports first surfaced that the business was teetering on the brink, City A.M. understands. Managing directors Philip Duffy and Benjamin Wiles were appointed joint administrators of BHS this morning, putting around 10,000 jobs at risk. In a statement Duff & Phelps [...]
What next for high street giant BHS as administration speculation mounts? April 24, 2016 The future of retailer BHS hangs in the balance today as speculation mounts that it is facing the prospect of full administration or a pre-pack deal. A stalwart of the British high street for decades, BHS was owned by Sir Philip Green for 15 years before he sold it to Retail Acquisitions last year for [...]
Morrisons chairman Andrew Higginson joins Shore Capital as senior adviser March 2, 2016 Investment firm Shore Capital has signed up retail veteran and Morrisons chairman Andrew Higginson as a senior adviser to help bolster its expertise in consumer industries. Higginson, who is also currently chairman of home shopping group N Brown, joined Morrisons in 2014 to lead a shake-up at the supermarket following years of worsening sales. He previously spent 15 years on the [...]
Littlewoods owner Shop Direct posts record profits thanks to mobile sales boom October 27, 2015 Shop Direct has posted a 78 per cent leap in full-year profits thanks to booming mobile sales and a surge in customers flocking to its main website Very.co.uk. The online retailer, which pulled the shutters down on its catalogue business this year, said pre-tax profits reached a record £71.7m in the year to 30 June [...]
Argos owner Home Retail Group hits back at claims it could be the next Comet October 21, 2015 Home Retail Group’s boss hit back at claims that Argos was at risk of becoming the next Comet, the collapsed electronics chain, after a profit warning sent shares crashing yesterday. The FTSE 250 retailer, which also owns Homebase, said investment in its new same day delivery service, weak sales of electrical goods, and uncertainty around [...]
City Moves for 30 July 2015 | Who’s switching jobs July 29, 2015 Principal Global Investors The asset management firm has announced several appointments to its fixed income team in Europe. Mark Cernicky and Randy Woodbury (pictured) transfer to its London office. Cernicky has 15 years’ investment experience and is a managing director. Woodbury is a senior portfolio manager and trader. In addition, Nicolas Woodcock joins as senior [...]
Brighthouse getting its house in order July 1, 2015 Rent-to-buy boss tells Kasmira Jefford why it has a valid place on the high street THE OWNERS of Brighthouse couldn’t have picked a better name to sum up the UK’s biggest rent-to-own retail chain. Its bold red and yellow fascia above window displays that promise “low weekly payments” and “no deposit” unashamedly seek to grab [...]
Streaming is believing: The race for streaming supremacy is on June 29, 2015 Don’t we just love a media-fuelled battle for supremacy, the winner in the ‘big race’, Goliaths all lining up for the 100 metre Dad’s dash? The truth is, in the mega-subscriber streaming market the gun went off years ago. The battle for streaming kingship is, as they say, a marathon not a sprint and [...]