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 [...]
Sports Direct’s Mike Ashley tees off in bidding war for American Golf October 5, 2018 Sports Direct owner and retail tycoon Mike Ashley is set to expand his business empire further, as it suggested he has tabled a bid for Britain's largest golf retailer American Golf. Ashley is among a number of interested parties in the American Golf takeover, including JD Sports Fashion, sources told Sky News. Deloitte, who is advising [...]
M&S, Tesco and Primark bosses to face MPs over fast fashion ‘waste’ October 5, 2018 Parliament's environmental audit committee has asked the bosses of 10 UK clothing retailers to reveal their environmental records, amid concerns about serial clothes dumping. High street staples Marks & Spencer, Primark, Next, Tesco, Asda and Sports Direct – among others – will also be summoned to parliament to face questions from the committee in November. Fast fashion is shorthand [...]
Intu shares soar nearly 30 per cent on John Whittaker takeover rumours October 5, 2018 Shares in property group Intu have rocketed nearly 30 per cent on rumours of a possible takeover from a consortium led by John Whittaker's Peel Group. The other investors led by the British billionaire include Canada's Brookfield Asset Management and Saudi Arabia's Olayan Group. Intu owns some of the UK's most well-known shopping centres, including the Trafford Centre [...]