Chappell facing High Court BHS suit May 22, 2016 Administrators for BHS are to launch a High Court suit against the retail chain's former backer. City A.M. understands that Duff & Phelps will file a suit on Monday, targeting Dominic Chappell and arguing that the businessman has not co-operated with its investigation into the retailer's collapse. Chappell owns a 90 per cent stake in Retail [...]
BHS liquidation rumours dismissed: Sale expected “early next week” May 20, 2016 A sale of BHS as a going concern could be revealed as early as next week – but there are still concerns that the iconic retailer may end up being liquidated. A source close to the situation has told City A.M. that bids are still being mulled and it is hoped BHS will be sold [...]
More BHS bidders revealed following deadline for offers May 18, 2016 Hilco Capital has been named as one of the bidders for beleaguered department story chain BHS, following last week's deadline for offers. BHS went into administration last month, and the company had reportedly attracted the interest of five suitors hoping to buy the whole of the high street retailer ahead of last week's bid deadline. Hilco, reported by ITV [...]
The race to save BHS: Matalan boss John Hargreaves teams up with Select Fashions owner for rescue bid May 17, 2016 Matalan founder John Hargreaves is teaming up with Cafer Mahiroglu, owner of Select Fashions, to rescue BHS. Hargreaves has formed a consortium with the Turkish entrepreneur to rescue the struggling retailer which went into administration last month putting up to 11,000 jobs at risk. According to The Telegraph, the entrepreneurs plan to make an announcement by [...]
Preston millionaire Yousuf Bhailok pulls out of BHS bidding May 17, 2016 Today is the deadline for bidders to improve their offers in the battle for acquiring BHS, ahead of a final decision on the sale which could come as soon as tomorrow. Administrators Duff & Phelps have been assessing bids from various parties over the past week and it is understood that a decision will be made [...]
Online polls got the London Mayoral race right – don’t ignore them for Brexit May 13, 2016 Books, articles and countless university theses will be written about the 2016 campaign for London Mayor, duly won by Sadiq Khan last week. Much will be said about the various candidates, campaigns and tactics, but it’s also worth noting that a number of pollsters got the result not just right, but bang on. After pollsters [...]
Dragon boats and running a firm: What business can learn from this unusual sport May 13, 2016 A dragon boat team has to work in the same direction. If the paddles don’t hit the water at the same time, they knock each other, creating inefficiency. If you don’t reach far enough with the paddles, they don’t deliver enough power and the boat goes slower. If not deep enough, then you are wasting [...]
Newcastle relegation Mike Ashley’s annus horribilis: Here’s what’s gone wrong for the divisive Sports Direct founder May 12, 2016 Mike Ashley's year has gone from bad to worse after Newcastle United were dumped out of the Premier League for the second time in his ownership on Wednesday night. Yet Newcastle's ejection from the riches of England's top tier into the same division as Burton Albion is only the latest in a series of damaging [...]
Sports Direct has extended its Debenhams put option May 12, 2016 Sports Direct International has extended its Debenhams put option by a year – meaning shareholders in Mike Ashley's retailer will continue to be concerned with the fate of the department store, whether they like it or not. Sports Direct entered into the original agreement with Goldman Sachs in 2014. The stake was built up to 16.6 [...]
Five suitors emerge for the whole of troubled BHS May 10, 2016 BHS has attracted five expressions of interest to buy the whole of the high street retailer. The interest was registered ahead of today's 5pm deadline, according to a spokesperson for the company. There have been a higher number of expressions of interest for specific parts of the business, with most thought to be keen to [...]