Shareholders need to hear more than just contrition if they are to believe in the future of M&S November 8, 2018 Another day, another bleak set of results from a struggling high street retailer. This time it was the turn of M&S to take centre stage, reporting falling food and fashion sales and pledging to leave “no stone unturned” in its bid to restructure the business. Blighted by rising costs, more competition, and major changes in [...]
Poundland warns landlords over costs as it moves into 20 former Poundworld stores September 20, 2018 Poundland has warned landlords about the "new realities of retail" as it announced the take over of former Poundworld stores after the rival discount brand collapsed into administration. Poundland will open in 20 large sites previously occupied by Poundworld in October, in a move that could create more than 400 jobs. Read more: Iceland to take over a handful of former Poundworld stores More than 5,000 [...]
Poundland warns landlords over costs as it moves into 20 former Poundworld stores September 20, 2018 Poundland has warned landlords about the "new realities of retail" as it announced the take over of former Poundworld stores after the rival discount brand collapsed into administration. Poundland will open in 20 large sites previously occupied by Poundworld in October, in a move that could create more than 400 jobs. Read more: Iceland to take over a handful of former Poundworld stores More than 5,000 [...]
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 [...]
Poundland founder in talks to salvage Poundworld July 9, 2018 Poundland founder Steve Smith is in talks with Deloitte over a bid for rival Poundworld, as the chain's own founder confirms he is out of the running. Smith, who sold Poundland to Advent International in 2002, is in the early stages of talks with administrators Deloitte about a possible rescue deal. Poundworld founder Chris Edwards [...]
Poundland owner Steinhoff secures deal with creditors to pave way for restructuring plans June 29, 2018 The South African retailer that owns Poundland said today that it had got the thumbs up from creditors to move ahead with debt restructuring plans. Steinhoff, which owns brands such as Benson for Beds and Harveys in the UK, said in an update today that it had agreed "key commercial terms" on its restructuring plans, [...]
Duracell distributor targets alternative investment market float April 23, 2018 A leading manufacturer and supplier of batteries, lighting, and vaping products will make its stock market debut next month. Supreme, which counts retailers Asda and Iceland among its customers, announced plans today to join London’s junior market in May as it targets raising £10m for a new stage of growth. The company’s revenues hit £70.7m [...]
Poundland owner Steinhoff tells angry shareholders it is renegotiating debt April 20, 2018 Steinhoff, the South African retailer, said today that it is renegotiating its debt as it faced shareholders for the first time since its shares plunged on the emergence of an accounting scandal. An investigation into the scandal is making “good progress”, the acting chairman told investors, and is expected to be completed by the end [...]
Fidessa confirms SS&C and Ion Trading approaches as bidding battle heats up after £1.4bn Temenos takeover proposal April 5, 2018 The firms at the heart of a bidding battle over Fidessa have been named by the UK financial tech firm as Ion Trading and SS&C. The company said earlier in the week it had received fresh offers to rival a £1.4bn approach from Switzerland’s Temenos and today named the firms behind them off the back [...]
Poundland follows controversial Christmas naughty elf campaign with some risqué Easter ads March 26, 2018 Poundland got into hot water last month with the Advertising Standards Authority for its naughty elf Christmas adverts, which were branded offensive and unsuitable to be seen by children. But that hasn’t dampened the discount retailer’s spirit. In fact, it has recently kicked off a new campaign for Easter, featuring a fluffy rabbit and chick. [...]