Bonmarche fights back against Philip Day’s £5.7m takeover bid April 12, 2019 Bonmarche today hit back at a cut-price takeover bid from entrepreneur Philip Day, saying it “materially undervalues” the struggling retailer’s future prospects. The French-themed fashion chain urged shareholders to take no action on the 11.445p-per-share offer from Day’s Dubai-registered Spectre Group. Read more: Bonmarche jobs and stores set to go in cut-price rescue deal The [...]
Carlsberg sparks speculation of new product launch with Twitter marketing campaign April 11, 2019 Carlsberg has quietly launched a tongue-in-cheek marketing campaign on Twitter, sparking speculation the brewer may be gearing up to launch a new product. The Danish firm has begun promoting tweets in which disgruntled customers complain about the quality of Carlsberg’s beer. Read more: Carlsberg cheers hot summer and Chinese sales despite lower growth outlook Comments [...]
Competition regulator accuses Casio of preventing price discounts April 11, 2019 Britain's competition watchdog has accused electronics giant Casio of illegally preventing price discounts today. Casio was provisionally found to have broken competition law by "restricting retailer freedom to discount online" by the Competition and Markets Authority (CMA) this morning. The Competition and Markets Authority (CMA) has issued a statement of objections to Casio Electronics which, as [...]
Check out Knightsbridge’s Mandarin Oriental’s refurbishment as it reopens after summer fire April 11, 2019 A luxury London hotel is set to open its doors next week after months of renovation following a major fire last summer. Read more: Property events moved away from Brunei-owned hotels amid boycott The Mandarin Oriental Hyde Park in Knightsbridge, which has been closed since June in the wake of a huge blaze that damaged the [...]
Primark unveils its largest ever store with Disney cafe, barber shop and Wizard World April 11, 2019 The world’s biggest Primark opened its doors to customers for the first time this morning. Featuring a Disney-themed cafe, Hogwarts Wizarding World and barber shop, the new outlet spans 160,000 ft across five floors. A Disney-themed cafe is part of the new Primark store It is the latest sign of the budget retailer’s expansion, which [...]
HMV Westfield reopens as new owner continues rental negotiations April 11, 2019 HMV’s Westfield store in Shepherd's Bush has reopened today, as new owner Doug Putman continues his efforts to negotiate with landlords in a bid to bring back stores that have been earmarked for closure. The Canadian entrepreneur has been striking deals with property groups to reopen closed outlets that were shut down as a result of [...]
Sports Direct takes another swipe at Debenhams in share buyback April 11, 2019 Sports Direct took a further swipe at Debenhams this morning amid growing speculation that Mike Ashley is mulling legal action to remove the retailer’s current administrators. Read more: Mike Ashley considers legal action against Debenhams In a note to the London Stock Exchange the sportswear group announced a new share buyback programme, which it said was [...]
Sir Philip Green appoints restructuring specialists to Arcadia’s board April 11, 2019 Sir Philip Green has appointed restructuring experts to the board of his retail empire as the billionaire tycoon prepares to overhaul the company. Former Deloitte partner Jamie Drummond Smith, who was the chairman of Cattles, has joined the board as interim chairman and Peter Bloxham, an independent restructuring advisor and former head of restructuring and [...]
WH Smith profits suffer after £155m purchase of US airport store In Motion April 11, 2019 WH Smith suffered a huge drop in profit in its half year as the costs of its purchase of US airport retailer In Motion grounded its bottom line. The figures Group revenue grew eight per cent year on year to £695m for the six months to the end of February as the stationery chain relied [...]
Ted Baker concludes review into former boss’ behaviour as it appoints new CEO April 11, 2019 Ted Baker has concluded its investigation into allegations against former chief executive Ray Kelvin as it appointed a new head of the company today. Read more: Ted Baker CEO resigns in the wake of misconduct allegations The UK fashion brand did not comment on the review's findings on Kelvin's behaviour, who denies accusations of misconduct stemming from [...]