Mulberry shares plummet on cost of House of Fraser collapse August 20, 2018 Shares in Mulberry plummeted as much as 30 per cent this morning as it said that the restructuring of House of Fraser could cost it around £3m. The luxury leather goods brand, which operates 21 concessions in HoF stores, said that sales in the department stores had been particularly hard-hit by challenging retail conditions in [...]
Mike Ashley is now the high street’s emperor August 12, 2018 Events around House of Fraser moved so fast on Friday morning that people could have left their house to the news that the retailer had collapsed into administration and would have got to work in time to hear it had been rescued. Mike Ashley’s Sports Direct swooped to the department store’s aid, paying £90m for [...]
Mike Ashley to turn House of Fraser into ‘Harrods of the high street’ after £90m acquisition August 10, 2018 Mike Ashley has promised to turn House of Fraser into the "Harrods of the high street" after buying the company for £90m. Sports Direct issued a statement confirming that the acquisition includes all the UK stores, the brand and all the stock. It comes after the department store chain announced this morning that it is [...]
Irish retail family agrees last-minute rescue for some Poundworld stores August 9, 2018 A glimmer of hope has appeared for Poundworld after an Irish retail family swooped in to buy the business on its last day of trading. The Henderson family said today that its offer to buy as many as 50 of the best remaining stores for an undisclosed sum had been accepted by administrators Deloitte. Although [...]
House of Fraser turns down entrepreneur’s offer to take on 31 stores August 7, 2018 House of Fraser has turned away a “lowball” offer by a businessman to take over its 31 stores which are set for closure, City A.M. can reveal. The entrepreneur whose bid to take over the City branch of House of Fraser was turned down last month put forward an offer to buy the assets and [...]
DIY SOS: Travis Perkins warns Wickes profits will be lower as consumers spend less on home improvement July 31, 2018 Wickes parent Travis Perkins warned this morning that the home improvement retailer's profits will be lower than expected due to a weaker consumer backdrop in the UK's DIY market. Shares dropped more than eight per cent in early trading. The figures The business, which also has several trade-facing units, reported like-for-like revenue growth of 4.2 [...]
Exclusive: Fashion group halted in bid to fill House of Fraser City branch July 30, 2018 An audacious bid to fill the House of Fraser branch in the City has been stopped in its tracks, after the landlord opted to sit on the property while market conditions remain uncertain. The department store on King William Street is one of the 31 slated to close next year under the chain’s company voluntary [...]
Farewell to Poundworld: Struggling retailer to close every single store and disappear from the high street July 19, 2018 Embattled retailer Poundworld is set to close all of its remaining stores and vanish from the high street entirely as early as next month, according to the firm's administrator. Deloitte has said all of Poundworld's 190 remaining stores will likely close by 10 August, affecting 2,339 staff. The discount goods retailer, which went into administration [...]
Babcock shares drop on lower revenue guidance July 19, 2018 Shares in engineering outsourcer Babcock International dropped in early trading today as the company flagged that its revenue will be impacted by reorganisation in the defence sector. Shares were down almost 10 per cent at 724.8p ahead of today's AGM. Babcock said that its revenues from defence would be impacted by the restructuring of the [...]
M&S cuts ties with Big Six as it partners with Octopus for new energy brand July 18, 2018 Marks & Spencer has today cut its ties with the Big Six energy providers as it announced a new partnership with challenger Octopus Energy. Octopus has been selected to supply energy and services under the M&S brand from September, in a move which the retailer is touting as part of its transformation plan. The company [...]
