What’s Mike Ashley’s game with Debenhams? March 8, 2019 Mike Ashley is consistent in the way he always manages to surprise us. On Thursday night in a post-market RNS the Sports Direct boss announced he was planning a boardroom cull at Debenhams, installing himself as chief executive officer. Only the recently appointed Rachel Osborne would survive the cull. On Tuesday, after Debs warned on [...]
Debenhams shares bounce back as Mike Ashley launches power grab March 8, 2019 Shares in embattled department store chain Debenhams jumped as much as 25 per cent this morning after Mike Ashley launched an audacious bid to take control of the company. The retail mogul last night demanded an extraordinary general meeting of Debenhams shareholders, calling for all but one of the existing board members to be ousted. Read [...]
Mike Ashley moves to oust Debenhams board and appoint himself as director March 7, 2019 Retail tycoon Mike Ashley has ramped up the pressure on embattled department store chain Debenhams this evening, after making an audacious bid to axe most of the firm’s directors and appoint himself to the board. In a surprise announcement made on the London Stock Exchange tonight, the billionaire magnate pledged to step down from his current role [...]
The high street can be saved if physical shops and online retailers collaborate and use data March 5, 2019 In January, affiliate marketing company Awin released research showing that 39 per cent of Britons wouldn’t really mind if we lost all high street stores altogether, with over a third of respondents saying that they “almost never” shopped there anyway. News stories about high street stalwarts being in the doldrums have become a recurring theme, from [...]
Debenhams issues fresh profit warning as expectations are ‘no longer valid’ March 5, 2019 Debenhams warned this morning that its profit expectations for the current year were "no longer valid", as a combination of increased financing costs and market uncertainties signalled further disruption for the embattled department store chain. The high street retailer has withdrawn its full-year outlook today, saying discussions with stakeholders have "now progressed to include options to [...]
Mike Ashley’s Sports Direct makes offer for Findel March 4, 2019 Sports Direct tycoon Mike Ashley is looking to continue his retail spending spree after announcing a £139m offer to buy Findel this morning. Sports Direct, which is currently Findel’s largest shareholder, said in a note to the London Stock Exchange that it has offered to purchase the remaining shares in Findel that it does not already [...]
What Anthony Scaramucci did next March 4, 2019 After a brief and calamitous stint in the White House catapulted him to international fame, Anthony Scaramucci is back at SkyBridge Capital, the hedge fund he founded in 2005, he has revealed in an interview with Opto magazine. For a brief period in July 2017, Anthony Scaramucci found himself at the centre of American politics. [...]
Reeling in the sales: Angling Direct posts surging revenue on back of international growth February 18, 2019 The UK’s largest fishing equipment retailer said this morning that it was forecasting a spike in full-year revenue, as the group ramped up its online operations and enjoyed a bump in sales from anglers in Germany, Russia and France. Angling Direct is expecting to post revenues of £42m for the 12 months to the end [...]
“It’s our goal to make the competition better” – Alfa Romeo positive upon return to Formula One February 17, 2019 This season Alfa Romeo will complete a return to Formula One by taking over the Sauber name, having been involved as the team's title sponsor last year. That marked the Italian marque’s first F1 involvement since 1985 after a long hiatus from motorsport's elite championship, but this latest move revives the works entry team that [...]
Patisserie Valerie wins rescue backing from private equity firm February 14, 2019 Scandal-hit Patisserie Valerie has been rescued in a £13m management buyout backed by Irish private equity firm Causeway Capital Partners. The cake chain confirmed this morning that Causeway Capital Partners had struck a deal with Patisserie Valerie's administrators in a move that is set to save 2,000 jobs and 96 of the firm's remaining branches. Retail and [...]