Sports Direct boss Mike Ashley keeps faith in the UK high street May 7, 2018 Who would bet on Britain’s beleaguered retail sector these days? Mike Ashley of course. The Sports Direct boss has used his company to build a near-30 per cent stake in department store Debenhams, alongside the 11 per cent chunk of House of Fraser it has owned since 2014, prompting rumours that he wants to combine [...]
Sports Direct’s Mike Ashley has blamed a former MP for a drop in the firm’s share price May 4, 2018 Mike Ashley has accused former MP Iain Wright of slashing millions off Sports Direct’s share price and sparking a rash of assaults on the retailer’s staff, according to reports. The allegations were part of a formal complaint to the Parliamentary Commissioner for Standards lodged earlier this week. The firm blames Wright for the “media circus” [...]
House of Fraser brings in advisers to consider store closures April 19, 2018 House of Fraser has become the latest retailer to look into store closures and rent reductions. The department store chain has brought in advisers from KPMG, Sky News reported, putting a company voluntary arrangement (CVA) on the table. This could involve closing some of the company’s 59 stores, as well as reducing rents at other [...]
Debenhams profit drops 84.6 per cent and CFO leaves for greener pastures April 19, 2018 Debenhams announced a dramatic drop in profits this morning, while its finance chief departed the company for a position at Selfridges. But chief executive Sergio Bucher insisted that the retilaer is on the right track to return to profitable growth. Shares in the company were down as much as 12.6 per cent in early trading [...]
FTSE firms including Persimmon, BP and JD Wetherspoon warned of investor revolts over gender diversity April 17, 2018 A number of FTSE 350 companies could face investor revolts over low female representation within leadership roles, the investment managers’ trade body said today. It warned that investors were “becoming restless” over the lack of progress being made. The Investment Association, which represents investment managers collectively owning one third of the FTSE, and the government-backed [...]
UK-based Game Digital share price tumbles as New York hedge fund Elliott Management drops retailer | City A.M. April 12, 2018 American hedge fund Elliott Management has sold its shares in UK-based gaming retailer Game Digital. The retailer made the announcement today as it confirmed that its non-executive director, James Shinehouse, who represented the hedge fund on Game Digital’s board, would also be stepping down. Following the announcement, shares of the gaming retailer dropped 13 per [...]
Paris Saint-Germain to “calmly” present FFP case to Uefa next week following reports of inflated sponsorships April 12, 2018 French giants Paris Saint-Germain insist they have no substantive financial fair play (FFP) concerns with European football governing body Uefa, after reports suggested they are facing punishment for breaching the regulation. The Qatari-owned club’s world record £200m deal for Neymar and another lucrative agreement for striker Kylian Mbappe last summer triggered a Uefa investigation into [...]
House of Fraser’s lenders call in advisers EY as high street crisis continues March 24, 2018 House of Fraser has become the latest household name to send out warning signals, as its lenders have appointed EY as advisers to check its ongoing viability as a business. In a year that has already seen the collapse of Toys R Us and Maplins, a syndicate of banks acting as lenders to House of [...]
Can Eco-Tourism Help Cape Town During Its Worst Ever Drought? March 19, 2018 You wouldn’t suspect there was anything odd about the bathrooms at the Cape Grace hotel. Until, that is, you looked inside the tub. There, dangling uselessly from the porcelain, you’ll see a neatly snipped-off inch of chain that once held a bath plug. This plug, along with every other in the hotel, has vanished. Clues [...]
Game changer: Meet the women tasked by the FA to unlock the commercial power of women’s football March 13, 2018 A 4-1 win over France in Phil Neville’s first game as head coach at this month’s She Believes Cup pointed to a positive future for the England women’s team in the coming years. It was England’s second win in 44 years over France and only their second win after two previous visits to the annual [...]