Travis Perkins accelerates plans to sell Wickes July 14, 2019 Builders merchant Travis Perkins has stepped up its plans for a £500m spin-off of DIY retailer Wickes. Travis Perkins has begun to prepare to demerge Wickes next year by separating the retailer’s IT systems from the rest of the group, the Sunday Times reported. Read more: Travis Perkins investors cheer first quarter sales growth The [...]
Heston Blumenthal’s restaurant empire sees losses deepen July 14, 2019 Celebrity chef Heston Blumenthal’s restaurant business posted deepening losses in its latest financial results as it works through an “efficiency program”. The group, which owns the three Michelin star The Fat Duck, suffered a post-tax loss of £1.7m in the year to 31 May 2018, compared to a loss of £700,000 in 2017. Read more: [...]
Sports Direct expected to post 20 per cent profit drop July 14, 2019 Sports Direct is expected to report a 20 per cent drop in profit following an acquisition spree by billionaire owner Mike Ashley. Profit before tax could slip from £152.9m to £122.06m, according to data from S&P Global Market Intelligence. Read more: Top Sports Direct executive leaves Mike Ashley’s firm Analysts said revenue is expected to [...]
M&S clothing boss steps down as CEO takes over role July 11, 2019 Marks & Spencer head of clothing Jill McDonald is leaving the company and is set to be replaced by chief executive Steve Rowe. McDonald, the former chief executive of cycling retailer Halfords, joined the high street giant less than two years ago. Read more: M&S seeks to persuade investors of Ocado deal benefits Sky News, [...]
Bank of England to probe risks of Woodford-style funds July 11, 2019 The Bank of England will investigate the potential risks of funds like beleaguered trader Neil Woodford’s suspended investment vehicle. Fund managers are currently able to offer investors daily liquidity when their savings are actually tied up in illiquid and unquoted stocks, which are difficult to transfer quickly into cash. Read more: Woodford loses employees as [...]
Private equity firm buys stake in Instagram fashion brand Reformation July 11, 2019 European private equity firm Permira has acquired a majority stake in sustainable fashion brand Reformation. The company, which was founded in Los Angeles 10-years ago, is e-commerce driven fast fashion brand with a dedicated following on social media platforms such as Instagram. Read more: UK fashion brand Karen Millen hoists for sale sign The firm plans [...]
Woodford loses trusted employees as fund suspension continues July 11, 2019 Neil Woodford’s investment company has started to lose top employees as a round of redundancies, sparked by the suspension of its flagship fund, begins to bite. Will Deer, the former head of institutional sales, has been made redundant, the company confirmed today. Read more: Woodford lifts block on investors switching from Hargreaves Lansdown Deer had [...]
US hedge fund considers bid for Four Seasons Health Care July 11, 2019 A US hedge fund is considering making a formal offer for the UK’s second biggest care home operator after it collapsed into administration earlier this year. Davidson Kempner Capital Management is preparing to make a bid for the parent company of Four Seasons Health Care, Sky News reported. Read more: Four Seasons appoints administrators The [...]
Landsec chief executive Robert Noel to retire July 11, 2019 Landsec chief executive Robert Noel is set to step down next year, the property giant announced today. Noel will retire after ten years at the firm and eight in the chief executive role after he joined Landsec as managing director of the London portfolio in 2010. Read more: Landsec: A tale of two portfolios He [...]
Prospective buyers eye up London housing market July 11, 2019 Prospective house buyers are eyeing up the London property market as enquiries rise for the first time this year. Net first time buyer enquiries reached the highest number since 2016 last month in a sign that the London sales market is settling down. Read more: Investor enthusiasm for UK commercial property slumps In June, 23 [...]
