Boohoo shares dive following Leicester factory allegations July 6, 2020 Shares in fast fashion retailer Boohoo slumped more than 18 per cent today following allegations of illegally low wages at the firm’s factory in Leicester. Boohoo shares fell 23 per cent during trading today, after the Sunday Times yesterday reported that workers making clothes for the firm’s Nasty Gal brand were paid as little as [...]
Exclusive: Elixirr seeks London IPO to end coronavirus drought June 19, 2020 Management consultancy firm Elixirr, whose clients have included Barclays, O2 and RBS, is seeking a London IPO, ending a two-month drought in flotations on the London Stock Exchange. Elixirr will seek a listing on London’s junior AIM exchange this summer, City A.M. can reveal. The company, founded in 2009, plans to go on an equity-funded [...]
CoinCorner launches UK ‘Bitcoin cashback’ initiative June 8, 2020 One of the UK’s leading Bitcoin exchanges, CoinCorner, has launched a new ‘Bitcoin cashback’ service to reward customers when they shop online. CoinCorner has partnered with more than 400 top retailers to launch the first-of-its-kind service in the UK. Some of those who have partnered with the exchange include household names such as Burtn, Twinings, [...]
Restarting and building a resilient recovery June 2, 2020 COVID-19 continues to create a unique set of challenges for business and society. I think it’s important, as we wrestle with those challenges, that we continue to acknowledge that we’re all experiencing this crisis in different ways and on different timelines. The way EY has been advising businesses to manage and respond to COVID-19 is [...]
Cath Kidston closes all stores as part of rescue deal April 21, 2020 Cath Kidston will permanently close all 60 of its stores in the UK under a rescue deal with its Hong Kong-based owner Baring Private Equity Asia (BPEA). The fashion label confirmed that parts of its business had been transferred by administrators following an independent sale process to CK Acquisitions, a company owned by BPEA. Under [...]
City grandees demand cash calls accommodate private investors April 20, 2020 Senior City figures are calling for listed companies seeking equity capital to accommodate private investors, amid a fundraising rush. In an open letter to chief executives of UK plc, City stakeholders said they fear rules giving existing stockholders first refusal on new shares will mean private investors will lose out. The letter, first reported in [...]
Coronavirus: The Gym Group and Hollywood Bowl latest to tap investors for cash April 17, 2020 UK businesses are racing to raise equity and shore up their finances during the coronavirus crisis, with The Gym Group and Hollywood Bowl among the latest firms to tap investors for cash. According to research by Peel Hunt, there have been 32 equity raises of at least £5m in the UK since the middle of [...]
Invesco chiefs warn listed companies over cash calls April 8, 2020 Invesco has told listed companies they must make a convincing case for raising “precious and expensive” equity during the coronavirus pandemic. A letter sent by the co-heads of UK equities at Invesco, obtained by Sky News, sets out their expectations for corporate fundraising. It came after the Financial Conduct Authority (FCA) announced temporary measures to [...]
Coronavirus: Global fashion industry set to contract 30 per cent this year April 8, 2020 The global fashion industry is set to contract by up to 30 per cent this year due to the coronavirus outbreak, according to the latest research. The luxury personal goods sector, including jewellery, watches and beauty products, is set to shrink by 35 to 39 per cent. Eight out of 10 listed fashion companies in [...]
FCA eases rules to speed up company capital raising April 8, 2020 The Financial Conduct Authority (FCA) has set out temporary measures to help listed companies raise cash quickly during the coronavirus crisis. The watchdog said it was likely many companies will turn to capital markets to raise money to support their recovery. Since lockdown measures prevent more than two people meeting, it’s harder to obtain shareholder [...]