Mike Ashley adds MegaValue.com high street store to Sports Direct business June 1, 2015 Mike Ashley rarely sits still. With his ownership of the beleaguered Newcastle United dominating the headlines, the Sports Direct owner has quietly added a new high street business to his interests. Read more: Rangers and Sports Direct boss Mike Ashley has too much power, says IoD The subtly-titled MegaValue.com is a new discount store that recently appeared [...]
B&M eyes more stores as sales jump by a third May 28, 2015 Bargain retail chain B&M has hiked its store expansion targets after reporting a near 30 per cent jump in revenue in its first year as a public company. The company, which sells everything from toys to electrical goods and furniture, yesterday said sales jumped 29.5 per cent to £1.6bn in the year to 28 March, [...]
Woolworths and Ethel Austin staff lose battle for compensation over redundancy April 30, 2015 THOUSANDS of staff made redundant following the collapse of retailers Woolworths and Ethel Austin have lost a fight for back pay, following a ruling yesterday by the European Court of Justice. Woolworths employed more than 27,000 people when it fell into administration in 2008 after struggling with £385m of debts, while retailer Ethel Austin collapsed [...]
Woolworths redundancy case: European Court of Justice decision good for business, lawyers say April 30, 2015 British businesses breathed a sigh of relief this morning after the European Court of Justice ruled in favour of the UK government in the controversial Woolworths redundancy case. The case dates back to Woolworth's demise in 2008 (and subsequently 2010, when it also affected former Ethel Austin staff), when more than 4,000 employees did [...]
Tough at the top: Will the FTSE giants fall from grace? March 26, 2015 From dividend cuts, to the accounting scandals just waiting to happen, SVM’s Colin McLean talks to Annabelle Williams about the potential pitfalls facing the UK market. The last few years have been tough for the UK’s biggest companies, as FTSE giants from supermarkets and banks, to insurers and oil majors, have come under pressure. [...]
Hilton Food Group ups dividend payout after year of expansion March 25, 2015 SPECIALIST meat packing company Hilton Food Group announced a 4.3 per cent increase in its dividend for 2014, as pre-tax profit grew slightly. The group’s profit was up 1.3 per cent, from £24.9m in 2013 to £25.2m last year. Revenue was down by 2.3 per cent, from £1.13bn to £1.1bn. The firm, which operates in [...]
Sir Philip Green lets go of loss-making BHS for £1 only March 13, 2015 Struggling retail chain BHS is to be sold for £1 after almost 15 years in the possession of billionaire Arcadia chairman Sir Philip Green. The iconic chain of department stores was founded in 1928 by American entrepreneurs seeking emulate the success of Woolworths. But the company has declined in recent years as it lost market [...]
European Court of Justice’s redundancy guidance paves return to “pre-Woolworths status quo” February 5, 2015 Employers are one step closer to being able to return to the “pre-Woolworths status quo” when it comes to redundancy consultation. The European Court of Justice's advocate general has this morning said that employers need not be bound by costly collective redundancy rules. It all comes down to the meaning of the word [...]
European Courts of Justice to reveal Woolworths and Ethel Austin redundancy decision tomorrow – but what does it mean for businesses? February 4, 2015 Note: This story was written before the opinion was published. Go here to find out what the advocate general said. Tomorrow could bring about the reversal of a ruling over redundancy consultation and compensation that costs companies millions of pounds. It's a huge deal and could have major implications for businesses throughout the EU. But [...]
Peppa Pig maker Entertainment One splashes cash on US deal as finance boss Giles Willits talks expansion plans January 6, 2015 Giles Willits is sitting in the boardroom of Entertainment One’s offices in west London with a family of Peppa Pig cuddly toys gazing up at him. The British TV phenomenon – Peppa Pig, that is – is one of the production group’s most successful exports. But today pigs are forgotten and the group’s jolly finance [...]