Three reasons behind Mothercare’s fall into administration November 4, 2019 Mothercare’s UK retail business is set to collapse into administration, despite a rescue plan implemented last year, the retailer confirmed today. Mothercare has filed a notice of intent to appoint administrators to its 79 UK stores after determining they were “not capable of returning to a level of structural profitability”. So what exactly went wrong? [...]
GVC shares fall 10 per cent as new chair appointed November 4, 2019 Gambling group GVC said today it had appointed the chairman of Homeserve to chair its business. Longstanding chairman Lee Feldman, who has been on GVC’s board for 15 years and chaired the company for 11, will step down on 27 February. He will be succeeded by Barry Gibson who has been appointed as a non-executive [...]
Takeaway.com seeks to add certainty to Just Eat deal November 4, 2019 Takeaway.com has changed the structure of its bid to buy food delivery platform Just Eat allowing it to reduce the shareholder acceptance threshold as it battles against a rival offer from Prosus. Takeaway.com and Just Eat had previously agreed the terms of a recommended all-share combination through a court sanctioned scheme of arrangement, which required [...]
Mothercare to appoint administrators for 79 UK stores November 4, 2019 Mothercare has confirmed it is preparing to appoint administrators to its UK retail arm later today in the latest blow to the British high street. The company announced this morning that a notice of intent to appoint administrators to Mothercare UK and Mothercare Business Services has been filed with the court. Read more: Mothercare warns [...]
Marston’s sells off 137 pubs for £45m as it looks to slash debt pile November 4, 2019 Marston’s has offloaded 137 pubs to Admiral Taverns in a deal worth almost £45m. As part of a plan to slash its debt by £200m over the next four years, the British brewery giant has sold a portfolio of pubs that contributed operating profit of £3.7m in the last 12 months. Read more: Pubs cash [...]
Mothercare ‘finalising plans’ to put UK business into administration November 3, 2019 Mothercare is said to be finalising a restructuring plan that could involve putting its British operations into administration this week, in what would be the latest blow to the UK’s struggling retail sector. The company, which now leans heavily on its franchising business abroad, has readied administrators to take over the unit in the coming [...]
Christmas can come too early – or at least the adverts can November 3, 2019 It’s just days since Halloween, but the Christmas advert season is well and truly upon us already. But not everyone is feeling festive yet. Market researcher Kantar Group has revealed that 67 per cent of shoppers think the adverts are too early. Read more: Toxic Tube a health hazard for commuters On the other hand, [...]
Sir Philip Green in talks to secure £300m by Christmas November 3, 2019 Embattled retail magnate Sir Philip Green is in talks with lenders about borrowing more than £300m that he needs by Christmas to pay off a loan secured against his flagship Oxford Street Topshop store. Read more: Sir Philip Green’s Arcadia reveals huge losses amid CVA controversy Among the possible suitors is US private equity company [...]
Asda gives hundreds of employees extra week to sign new contracts before facing sack November 2, 2019 Asda will give employees an extra week to sign new employment contracts before dismissing them with the original deadline set for today. The supermarket said workers who had yet to sign the new so-called Contract 6 would be given a seven-day “cooling-off period” to change their mind before losing their jobs. Read more: Asda rejects [...]