Tina Green chose offshore jurisdictions for her companies because they have “strong regulatory regimes” July 5, 2016 Lady Christina Green, the wife of retail tycoon Sir Philip Green, has responded to MPs inquiring into the doomed sale of BHS. Lady Green defended her use of the non-UK jurisdictions for her companies, saying these locations had "strong regulatory regimes." MPs were looking to understand Lady Green's involvement in the complex web of companies that make [...]
Pub group Young’s says it is unfazed by Brexit vote uncertainty July 5, 2016 Pub group and brewer Young's has shrugged off Brexit fears, saying it is "well positioned" to ride out the economic uncertainty that has formed in the wake of the EU referendum result. "Clearly, the result of the EU referendum has created considerable political and economic uncertainty and it would be unwise for us to speculate at [...]
Dominic Chappell says BHS didn’t fail because of the money he took out July 4, 2016 Dominic Chappell has today pushed back on claims that the collapse of BHS was caused by the money he took out of the business. The high street retailer was placed into administration in April, just one year after it had been sold for £1 to Chappell's Retail Acquisitions. In an interview with BBC's Newsnight, Chappell [...]
Sons of London’s Sepand Oboudiyat on cow bellies, Italian artisans and fast fashion July 4, 2016 "Bob Diamond wouldn’t hire a guy who had bad shoes," Sepand Oboudiyat informs me. And the latter has done very well out of the City’s predilection for fine footwear. The founder of new men’s shoe brand Sons of London has only been trading for seven months, but he’s already seen 75 per cent growth month-on-month. Sitting at [...]
Sainsbury’s gives up its discount dreams as it ditches Netto UK stores July 4, 2016 Sainsbury's is ditching its partnership with European discounter Netto and plans to close 16 Netto UK stores in August. The joint venture between Dansk Supermarked Group's (DSG) Netto and Sainsbury's began in June 2014; around 400 jobs in the stores are now at risk as Sainsbury's focuses instead on its acquisition of Argos owner Home Retail Group. Read more: Sainsbury's has named new chief executive [...]
Making tech human: The Memo’s Alex Wood on why there’s more value in a smaller audience July 4, 2016 "Apple announcements aren’t exciting anymore,” says Alex Wood, the journalist and entrepreneur behind tech website The Memo. Not only is the tech titan failing to launch products and software which are more eye-catching than those which preceded them, Wood thinks that consumers are tired of technology being presented to them as an endless chronicling of operating [...]
Brexit wrecks it: Brits shun big ticket buys July 4, 2016 The future of retail was uncertain even before the country voted to leave the European Union. Now, grocers and high street department stores have more than just discounters and the internet to deal with: they have to navigate changing trade relationships, weather a possible downturn in consumer sentiment, and adapt to shifting spending patterns as well. So what’s next for UK [...]
Gutterball: Bowling alley firm postpones flotation plans after Brexit July 3, 2016 A bowling alley firm has pushed back its plans to float on the stock market following last month’s Brexit vote. Hollywood Bowl had planned to launch an initial public offering (IPO) this month. But the plans have now been pushed back towards the end of the summer. Elsewhere, Sky News reported that NewDay, which provides store cards [...]
New homes on sale in London this weekend: from South Bank Tower to eco “Urban Houses” in Blackheath June 30, 2016 South Bank Tower From £1.8m The remaining 193 studio to four bedroom apartments and penthouses in the 41-storey South Bank Tower – formerly the IPC Media building – are now on sale. Four new show apartment by four interior designers – 1508 London, Goddard Littlefair, Studio Ashby and Rachel Winham – have been drafted in by [...]
Qataris take on large chunk of BHS’ property portfolio and its website June 30, 2016 The administrators selling off parts of the BHS empire have landed a deal for a large number of the embattled brand's clothing stores and its website. Qatari group Al Mana, which already runs some of BHS' shops abroad, will take on 70 of the company's overseas stores. Duff & Phelps was appointed to run BHS in April, and this [...]