Moody’s downgrades Debenhams, warning outlook remains ‘negative’ April 4, 2019 Troubled retailer Debenhams suffered a fresh blow this afternoon after being downgraded by credit ratings agency Moody’s. Read more: Sports Direct calls on Debenhams investors to protest against finance deal The department store chain’s rating has been cut from Caa1 to Ca, with Moody’s saying that the group's outlook remained "negative". "We have downgraded Debenhams' [...]
Property giant Intu promotes finance boss to become new chief executive April 4, 2019 Shopping centre-owner Intu Properties has promoted its finance boss to run the company, it announced today. Intu confirmed that Matthew Roberts was taking over as chief executive with effect from 29 April. Roberts has been chief financial officer at Intu since 2010 and was also previously chief financial officer at gambling firm Gala Coral and [...]
Intu Properties to appoint finance chief Matthew Roberts as new boss April 3, 2019 Shopping centre owner Intu Properties plans to appoint its finance boss as its new chief executive during a challenging time for the retail sector. Intu, which owns the Trafford Centre in Manchester, is expected to announce that current chief financial officer Matthew Roberts is its new chief executive as early as tomorrow, Sky News reported. [...]
Findel says it has backing of major shareholder in blow to Ashley bid April 1, 2019 Online shopping specialist Findel claimed today that it had the support of its second largest shareholder, as it looks to see off a takeover bid from Sports Direct. In the latest blow to retail tycoon Mike Ashley, the British home shopping company published a letter of support from Schroders, which controls an 18.85 per cent [...]
Philip Day steps back from race to buy collapsed high street shoe store LK Bennett March 31, 2019 Philip Day, the billionaire owner of retailer Edinburgh Woolen Mill, has removed himself from the competition to buy collapsed shoe seller LK Bennett. The retail tycoon had lodged a bid with administrators at EY, joining Sports Direct boss Mike Ashley, as well as Chinese fashion entrepreneur Rebecca Feng and former LK Bennett chief executive Darren [...]
Sports Direct calls on Debenhams shareholders to protest against financing deal March 30, 2019 Sports Direct has today called on Debenhams shareholders to protest against its latest funding deal that could see investors wiped out, and instead support Mike Ashley’s installation as chief executive. Sports Direct issued an announcement containing a link to a letter of protest which it encouraged shareholders to send to Debenhams. The statement said: “Sports [...]
Debenhams completes £200m funding round to blow Ashley bid out of the water March 29, 2019 Debenhams completed its £200m refinancing deal this morning, defeating a takeover bid by Sports Direct billionaire Mike Ashley. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The announcement sent shares up almost 30 per cent as the embattled retailer said shareholders remain in its plans. The move means the department [...]
‘No justice’: Mike Ashley voices anger as Debenhams thwarts his takeover bid March 29, 2019 Mike Ashley has railed against Debenhams’ move yesterday to thwart his takeover offer, saying “if there were any justice in the world the majority of the advisors would be put in prison”. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The billionaire owns a 30 per cent stake in the department [...]
Bondholders back Debenhams for £200m restructuring loan in blow to Mike Ashley bid March 28, 2019 Debenhams moved one step closer to carrying out its major restructuring plan this morning after revealing that it has secured the support of bondholders. In what could be a major blow for retail tycoon Mike Ashley, who is currently mulling his own bid to buy the company and prevent his 30 per cent stake from [...]
Facebook set to snap up Debenhams HQ as embattled retailer surrenders lease March 28, 2019 Facebook has agreed to swoop up new office space left empty by troubled department store chain Debenhams, which is vacating its West End HQ to help pay off a mounting debt pile. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The tech giant, which which has been ramping up its [...]