Sports Direct launches legal challenge to Debenhams restructuring plan June 11, 2019 Retail tycoon Mike Ashley has launched an audacious legal challenge to stall the turnaround plan at Debenhams, reigniting a bitter feud for control of the high street retailer. The embattled department store chain confirmed today that it has received challenges to its company voluntary arrangements (CVA) from parties including Sports Direct, the budget sportswear retailer [...]
City Moves for 11 June – who’s switching jobs? June 11, 2019 Who’s switching jobs today? Cazoo Cazoo has announced it has appointed Jonathan Howell as its chief technology officer (CTO). Jonathan joins Cazoo from Made.com where he has spent the last five years as CTO and grew the technology and product management teams from 15 to 100, supporting revenue growth of more than six times as [...]
High street retailers take hit from drop in footfall June 10, 2019 High streets, retail parks and shopping centres all suffered a year-on-year drop in footfall last month, according to new figures which underline the tough trading conditions facing bricks and mortar firms. The number of shoppers plunged by 3.5 per cent in May, compared with a drop of 0.4 per cent during the same month last [...]
Ofcom boss Sharon White chosen as next John Lewis chair June 6, 2019 Ofcom boss Sharon White is set to replace Sir Charlie Mayfield as the next chair of John Lewis, taking on the role as the retailer battles to recover from a recent plunge in profits and tough trading conditions on the high street. White, who is currently chief executive of the UK’s communications regulator, is set [...]
Joules enjoys revenue bump as international market blossoms June 6, 2019 British lifestyle brand Joules enjoyed a double-digit rise in revenue over the last 12 months, as booming international demand helped the firm shrug off wider troubles in the retail sector. Read more: Joules lures in new CEO The fashion firm’s revenue jumped by 17.2 per cent to £218m in the year to 26 May 2019, [...]
Sir Philip Green’s fashion empire hangs by a thread as CVA vote is delayed June 5, 2019 SIR PHILIP Green made a dramatic last-minute bid to stall the collapse of his retail empire tonight after postponing a crunch vote that threatened the future of his high street brands. In a shock move the Topshop tycoon decided to delay the final decision from creditors on whether to approve an insolvency process for his [...]
Mike Ashley’s Sports Direct lines up Game takeover June 5, 2019 Mike Ashley is set to lodge a bid for Game Digital, as the retail tycoon’s spending spree shows little sign of slowing down. Sports Direct, which already owned a 20 per cent holding in Game, has launched a takeover offer for the gaming firm after upping its stake in the group to roughly 38 per [...]
Intu set to vote against Arcadia CVA as Philip Green’s empire hangs by a thread June 5, 2019 Fresh doubts over whether Sir Philip Green’s fashion group can win a crunch restructuring vote today have emerged, as one of Britain’s largest retail landlords looks set to vote against the firm’s controversial insolvency plans. Intu, a FTSE shopping centre owner, is expected to vote against the proposals for Green’s company voluntary arrangement (CVA), according [...]
Sir Philip Green faces a crunch moment June 4, 2019 THESE are not good times for Sir Philip Green. The scandal-hit tycoon has been spending more days than usual at his Monaco base in recent months, laying low in the sunny tax haven while both his reputation and high street empire take a beating back in the UK. But even Green will struggle to avoid [...]
Battle of the brands: Addison Lee tops list of most London-centric brands April 8, 2019 Taxi firms, shopping centres and local radio stations are among the brands which are most well known only to those living in the capital, a new study has found. Addison Lee topped Yougov's index of the most London-centric brands, with 83 per cent of Londoners knowing about the taxi hire firm compared with 29 per [...]
