Game Digital appoints former House of Fraser director as new finance chief October 12, 2018 Video game retailer Game Digital today confirmed former House of Fraser finance director Ray Kavanagh as the firm's new chief financial officer (CFO), while the business heads for a strategic turnaround. He was previously the director of finance at troubled department store chain House of Fraser for eight years, as well as a company board member [...]
Mike Ashley snaps up freehold to House of Fraser’s historic Glasgow store for £95m October 12, 2018 House of Fraser today paid £95m for the freehold to its iconic Glasgow building, promising to turn it into the “Harrods of the north”. Owner Sports Direct bought the Frasers building from Glasgow City Council, promising to turn it into a destination for luxury shopping, with brands like Hermes, Christian Louboutin, Prada and Gucci already [...]
FCUK must reconnect with British shoppers in a saturated market October 10, 2018 On Monday, news emerged regarding high-street retailer French Connection. The brand announced that it may be up for sale, prompting shares in the fashion chain to rise 25 per cent to 55p. Following on from speculation last weekend, the firm said it was “reviewing all strategic options” – one of which is a sale. French [...]
Flying high: Angling Direct hooks in revenues as physical stores prove to be a big catch October 8, 2018 Angling Direct reeled in a sharp rise in turnover over the first half of 2018, amid burgeoning sales that were bolstered by European expansion and UK store growth. The group today posted a 55 per cent rise in revenue in the first six months of the year, jumping to £21.9m, on the back of a [...]
French Connection shares rocket as retailer looks for a buyer October 8, 2018 Shares in French Connection were up a huge 32 per cent in early morning trading on the back of news that the brand is up for sale. The clothing retailer yesterday confirmed that it is looking to sell, with founder Stephen Marks hoping to offload his 42 per cent stake. Read more: French Connection founder [...]
House of Fraser partner threatens legal action over store’s debt against administrators EY October 8, 2018 A House of Fraser concession partner is considering legal action against the company’s administrator EY, claiming its classification of his business will cost him hundreds of thousands of pounds. Ehab Shouly, who runs three tea rooms in House of Fraser stores, says he is owed over £300,000 from the company – the equivalent of two [...]
French Connection founder Stephen Marks could sell 42 per cent stake, company confirms October 8, 2018 The founder of French Connection is looking to sell, 46 years after creating the fashion brand, the company has confirmed. Stephen Marks is looking to offload his 42 per cent shareholding and has started approaching potential buyers. The company said it is “currently reviewing all strategic options in order to deliver maximum value for its [...]
Amazon eyes British retail space for grocery stores October 7, 2018 Online retail giant Amazon is eyeing up the acquisition of several sites in Britain to develop its checkout-free grocery business. The Sunday Times yesterday quoted sources as saying Amazon wanted stores of between 4,000 sq ft and 5,000 sq ft to house Amazon Go, an arm of the business that uses technology to track the [...]
French Connection chief seeks to sell off controlling stake October 6, 2018 French Connection founder Stephen Marks is sounding out potential buyers for his controlling stake in the retailer, it emerged today, in a deal which could trigger a takeover of the whole business. Advisers from Numis Securities, acting on Marks' behalf, have been speaking to prospective bidders this week about the 42 per cent shareholding, sources [...]
Focus On Blackheath: New development is thin on the ground in this quintessential London village October 5, 2018 T here’s a lot of development going on in South East London, but you won’t find it in Blackheath. This little enclave is on the borders of Greenwich, Kidbrooke and Lewisham, which are all undergoing Joan Rivers-level facelifts in the next few years, but there’s nothing going on in Blackheath by comparison. Housebuilding behemoth Berkeley [...]