As accounting firms prep for busy period, non-Big Four players spot new opportunities May 26, 2021 The majority of 2020 was a slow year for the UK’s deals market, with mergers and acquisitions depressed by the Coronavirus pandemic and its subsequent lockdown restrictions. This trend, however, now seems to be in reverse with a number a big deal in the private sector, including Virgin Media and O2’s £31bn mega merger, and [...]
It’s all over: Debenhams’ 243-year history ends today as final 28 stores close for good May 15, 2021 Today, Debenhams is to shut its doors for the final time in its 243-year history. The historic department store chain will close its remaining 28 stores across the UK for good tomorrow after the company collapsed amid the fallout of the coronavirus pandemic. It closed 21 other sites across the UK for the final time [...]
Landlords vs retailers: What the New Look legal case means for future of CVAs May 10, 2021 New Look today defeated a legal challenge to its restructuring plan by a group of its landlords in a landmark case that experts say will clear the way for other retailers to use Company Voluntary Arrangements to combat the impact of the pandemic. The ruling is likely to deepen tensions between tenants and landlords, as [...]
Secondary fundraising by retailers nears £2bn as firms eye M&A opportunities May 10, 2021 Listed retail companies have raised nearly £2bn in the past year as they sought to strengthen their balance sheets amid the pandemic. Now, they are starting to eye M&A opportunities. In recent years, listed firms in the UK have relied less on the public markets with private equity firms often considered a more attractive option. [...]
High street decline May 5, 2021 With high streets in turmoil and recovery slow, high street graveyards are becoming a common sight across the UK. The past 12 months have not been easy for the vast majority of companies, in particular for those without an online platform. However, the struggle of the high street is not a new problem. Rewind a few years [...]
High street recovery blown off course as footfall drops 6.1 per cent May 4, 2021 Wind and rain blew the high street recovery off course this week as footfall dropped 6.1 per cent, according to figures from retail insight company Springboard. The number of shoppers across all retail destinations fell by two per cent last week from the week before. Meanwhile, footfall rose by 2.8 per cent in shopping centres [...]
There is a generation of small businesses hungry to reinvent the high street May 4, 2021 You’d be forgiven for thinking the story of our British high streets was all about the evacuation of large retailers. Debenhams, Mothercare, Topshop, Peacocks barely scratch the surface of the total exodus which has seen 11,000 shops close in just 12 months. Many have been quick to explain that the pandemic has simply accelerated an inevitable, crumbling demise. While our high streets might look bleak right now as larger companies withdraw, small businesses are [...]
Cash down the back of the sofa: Loaf readies for £70m sale May 2, 2021 Home furnishings retailer Loaf is reportedly exploring options for a sale as it looks to cash in on pandemic-driven increased demand. Industry sources told The Times that a sale could raise as much as £70m. Read more: Bargain bin: Topshop’s former Oxford Street site on sale for £420m Loaf was born out of The Sleep [...]
Bargain bin: Topshop’s former Oxford Street site on sale for £420m May 2, 2021 For years it was the jewel in the crown of Sir Philip Green’s retail empire. But with the collapse of Arcadia last November, the former home of Topshop on Oxford Street is now on the market for a cool £420m. Marketing materials seen by The Times suggest the property will offer a “new age retail [...]
Asos bags record profit as pandemic continues to drive sales April 8, 2021 Asos’ profit has soared to record levels as the online fashion retailer has continued to benefit from the boom in demand for online shopping during the pandemic. The ecommerce giant reported this morning that adjusted profit before tax – not including acquisition costs – hit £112.9m in the six months ended 28 February, a £82.8m [...]