Virgin Active hires boss of Woolworths SA December 3, 2014 VIRGIN Active has hired the boss of South African supermarket giant Woolworths to become its new chairman after Richard Baker stepped down from the gym group yesterday. Simon Susman has replaced him with immediate effect, Virgin Active said. Baker, who has been at the helm of Virgin Active since 2008, was poached this summer to [...]
JD Sports Fashion shares rise after group offloads troubled fashion arm Bank to Hilco November 25, 2014 Shares in JD Sports Fashion jumped more than 4.3 per cent this afternoon, as the retailer confirmed it had sold its struggling fashion arm Bank. Restructuring specialist Hilco Capital has bought the business for an undislosed sum through one of its subsidiaries. JD Sports Fashion said the move “should result in a substantial recovery [...]
BrightHouse IPO plans hit turbulence over MP inquiry September 9, 2014 The listing of shares in rent-to-own retailer BrightHouse was left in limbo yesterday after a fresh parliamentary inquiry into the group cast doubt on the firm’s ability to attract investors. A group of MPs, under the auspices of the All-Parliamentary Group on Debt and Personal Finance, will investigate rent-to-own outlets like BrightHouse, sparking concerns the [...]
Check out these previous winners of the Veuve Clicquot Business Woman of the Year award May 12, 2014 A distinct orange hue will be enveloping Claridge's this evening for the annual Veuve Clicquot Business Woman of the Year awards; gongs will be handed out, Veuve will be drunk. Thomas Cook’s Harriet Green is up against Mediacom’s Karen Blackett and retail doyenne Jane Shepherdson of Whistles for the top gong. The additional [...]
Rothschild to advise on Poundland’s flotation November 4, 2013 BUDGET retailer Poundland has lined up Rothschild to advise on its upcoming public offering, which is expected to value the firm at more than £700m. The investment bank, which declined to comment on the issue, is expected to bring in other advisers to work on the flotation in the next few weeks. Poundland – which [...]
Bottom Line: A top-heavy group in need of a shakeup September 4, 2013 IF YOU’RE going to leave, it’s a shame to do it just when things seem to be improving. Sadly, that is Terry Duddy’s predicament as he announces his decision to move on from Home Retail Group. Duddy was there for the gruelling years when the twin pressures of recession and technological disruption threatened to bring [...]
Our retail industry has a bright future – but it must adapt to survive August 6, 2013 A ROW of boarded up shops is not how we want our high street to look. But since the beginning of the recession, a high number of retail casualties have been claimed – great stalwarts of the high street like Woolworths and HMV among them. Despite flickering hopes of economic recovery, it is unlikely that [...]
Sir Stuart Rose takes the hot seat at Ocado January 22, 2013 SIR STUART Rose, the former boss of Marks & Spencer, is to become chairman of Ocado, in a major coup for the online retailer. The company said Sir Stuart is to replace Sir Michael Grade after its annual general meeting in May. Grade, best known for his roles at ITV and Channel Four, will be [...]
Hilco snaps up HMV debt pile to take control January 22, 2013 HMV was given a potential lifeline yesterday after restructuring firm Hilco bought the crisis-hit music retailer’s debt for about £40m, effectively giving it control of the group. Hilco – which already owns HMV Canada – confirmed yesterday it had acquired HMV’s debt from the group’s consortium of lenders led by the Royal Bank of Scotland [...]
Music and film industries offer concessions to keep HMV afloat January 20, 2013 THE WORLD’S biggest music and film companies are backing a takeover attempt for HMV, and are considering new supply terms to keep a rejuvenated company afloat. The likes of Universal Music and Warner Bros are understood to be exploring a range of options, such as cutting prices on CDs and DVDs or easing payment terms. [...]