Palamon buys a majority stake in colourful Swedish retailer Happy Socks January 16, 2017 Palamon Capital Partners today announced its acquisition of a majority stake in Happy Socks, a leading whimsical sock designer. The European growth investor's transaction valued the Swedish sock company at SEK 725m (£67.1m), with SEK 40m of growth capital to be injected to support the continued expansion of the business, leading to a SEK 765m enterprise value. [...]
Brexit vote boosts Hugo Boss January 16, 2017 Hugo Boss has staged a partial recovery thanks to a sales boost in Britain and China. The German fashion house said its operating profit for 2016 will fall less than expected due to a 20 per cent increase in like-for-like sales in China in the fourth quarter, and a two per cent increase in Europe, which was [...]
A London restaurant has offered to lock up your mobile phone while you eat January 16, 2017 Today, our dinner tables ring out with the buzzes and pings of mobile phones calling out for attention. What happened to good, old-fashioned conversation over a cuppa? Well, a London restaurant and tea house is hoping to find out with a new (though optional) policy to lock up customers' phones while they eat. The Tea Terrace [...]
Burberry confirmed its new chief executive Marco Gobbetti is set to head the company from July January 16, 2017 Burberry today confirmed Marco Gobbetti is set to become the boss of the company this summer as part of the company's ongoing restructuring drive. Gobbetti is slated to join the luxury brand as executive chairman of Asia Pacific and Middle East on 27 January until 4 July. From 5 July, he will join the board and take on his role [...]
Goals Soccer Centres increased sales last year as more people turned out to play five-a-side football January 16, 2017 Sales at Goals Soccer Centres went up last year, with the company attributing its success to an improved customer experience due to more investment in upgrading its five-a-side pitches. The figures Group sales for the year increased by 1.3 per cent to £33.4m from £33m, with like-for-like sales growing by 0.6 per cent, which the firm [...]
UK high street celebrates first December rise in footfall for five years January 16, 2017 The UK high street has benefited from the first December rise in footfall for five years. Footfall increased 0.8 per cent year-on-year in December, according to figures from Springboard and the British Retail Consortium, as consumers sought some festive cheer on the high street. Read more: Debenhams share price jumps as it reveals sales hike [...]
Super surprise for commuters as Heinz sets up emergency soup boxes in UK cities January 16, 2017 This week’s forecasted fog may be a real pea-souper, but it was a cream of tomato variety that lay in store for commuters this morning. Heinz is encouraging city-dwellers to beat the cold by smashing ‘In Case Of Emergency’ cases for a free can of tomato soup. Following the revelation that 75 per cent of [...]
Better Capital boss Jon Moulton on Brexit, his firm’s exit and why he still hasn’t forgiven Liam Fox January 16, 2017 Bald, bold and bespectacled, private equity veteran Jon Moulton has had more than his fair share of knocks as well as high points during a long career. He was branded the Christmas Scrooge in December 2014 when City Link collapsed into administration leaving nearly 2,700 jobs at risk. “We made a very bad decision to [...]
Duff & Phelps hits out at BHS pensions lifeboat in letter to Labour MP Frank Field January 15, 2017 The firm originally appointed to handle the collapse of BHS has criticised the company's largest unsecured creditor for trying to control the process. BHS fell into administration in April last year after its former owner Sir Philip Green sold it to serial bankrupt Dominic Chappell for £1. Green brought in Duff & Phelps to handle [...]
Microwave meal maker Bakkavor set for London float January 15, 2017 Ready meal maker Bakkavor is considering a float on the London stock market, according to reports. The firm, founded in 1986, manufactures microwave meals for supermarkets including Waitrose, Sainsbury's, Tesco and Marks and Spencer. The company also supplies fresh goods such as lettuce, tomatoes and sweet potatoes. According to the Sunday Times, Bakkavor has enlisted Rothschild to [...]