From London property and Tesco to Sports Direct and haunted houses: Here’s what got us talking this week October 9, 2015 It was a week in which plastic bags suddenly became the big new commodity, Google became free to be evil and somewhere lurking in your neighbourhood, proof of "ghost-free" houses became a thing. Here's what got us talking 1) We nailed the property conundrum We don't like to brag but we may have finally found the [...]
Sports Direct chief executive Dave Forsey charged over USC administration on same day staff win legal battle over redundancy pay October 9, 2015 A government agency has charged Sports Direct chief executive Dave Forsey over criminal offences regarding the company's handling of the administration of chain USC. The UK Insolvency Service has started criminal proceedings against the retail boss for “an offence contrary to section 194 of the Trade Union and Labour Relations (Consolidation) Act 1992,” it told City A.M. This [...]
USC workers win case against Mike Ashley’s Sports Direct October 9, 2015 Workers at fashion chain USC that was put into administration by parent company Sports Direct earlier this year have won a legal battle against the firm, giving them redundancy pay that could run into thousands of pounds each. Staff had complained that they were given just 15 minutes notice before they lost their jobs. In [...]
Sports Direct swoops in on Heatons parent company Warrnambool October 7, 2015 Sports Direct is swooping in on the parent company of Irish retailer Heaton, taking a majority stake in the business and looking to buy the remaining shareholders out. The Mike Ashley-owned business is acquiring minority shareholder Sandra Minor's holding in Warrnambool, on top of its current 50 per cent stake in the business. The business [...]
Boris Johnson: £35m cost to host 2017 Tour de France in London better spent elsewhere September 29, 2015 Mayor of London Boris Johnson has taken responsibility for the capital's decision not to host the start of the 2017 Tour de France, arguing that it would be too expensive. Read more: London pulls out of hosting Tour de France Grand Départ in 2017 London had trumped competition from Manchester and cities in Germany to win [...]
Findel share price soars as Sports Direct takes 19pc chunk of Kitbag parent September 29, 2015 Sports Direct has taken an 18.9 per cent stake in Kitbag parent company Findel, almost a year after Mike Ashley first started eyeing up the football strip retailer. The move comes as Findel confirmed it had received an approach for the sports retail business from an unnamed third party and had “agreed terms, subject [...]
Sports Direct gives up chase for posh fitness chain Soho Gyms September 27, 2015 Sports Direct has abandoned its bid for upmarket fitness centre chain Soho Gyms, according to reports. The retailer had held discussions with the gym company with the aim of reaching a deal that would extend its own gym business, Sports Direct Fitness, which launched in November last year. However, The Sunday Telegraph reported that the [...]
This time it’s personal: Lida’s Matthew Heath discusses direct marketing and virtual cars September 27, 2015 In their landmark book The One to One Future, Don Peppers and Martha Rogers told marketers to "operate in realities, not abstractions of realities". But in 1993, when their book was published, neither could have foreseen how quickly their idea of personalised advertising would be realised. "That idea was ahead of its time," says [...]
Debenhams coup: Shareholders and City stockbroker Cenkos plot shake-up at retail chain September 20, 2015 Debenhams could be forced to undergo a shake-up of its senior management after coming under pressure from a group of disgruntled investors unhappy with the department store group’s performance. City stockbroker Cenkos is understood to have been asked by Debenhams shareholders that collectively own a stake of around 20 per cent in the company to [...]
An enduring bond September 20, 2015 Aston Martin’s Simon Sproule talks balancing growth and exclusivity THE UK has long distinguished itself as a leader in luxury goods. Increasing wealth in the Gulf states and the Far East has opened up opportunities in new markets for high-end brands with a heritage. But when exclusivity is so important to a brand’s appeal, pursuing [...]