Administrator blocks rescue bid for collapsed Patisserie Valerie February 3, 2019 The administrators of collapsed cafe chain Patisserie Valerie have blocked an attempted rescue deal by a restaurateur, it has been reported as evidence emerges of more fraud at the company. David Scott, who sold Druckers to Patisserie Valerie’s then-owner Luke Johnson in 2007, had said he wants save at least half of the cake shops. Read [...]
Canadian vinyl record shop boss Doug Putman joins bidding war for HMV February 3, 2019 Canadian vinyl record tycoon Doug Putman has made a dramatic late bid to snap up collapsed music store HMV in a move that could hamper Mike Ashley's takeover plans. Douglas Putman, who owns Canadian chain Sunrise Records, has entered the auction and is now the front-runner ahead of the Sports Direct tycoon, according to media reports. [...]
Debenhams lending talks pay off as it closes in on store closure plan February 3, 2019 Debenhams will this week reveal it has bagged a cash injection from lenders as the struggling department store closes in on a radical restructuring plan. The embattled chain has been in discussions with lenders over recent weeks as it looks to refinance banking facilities over the next 12 months in a bid to stay afloat. [...]
Superdry braced for clash with founder Julian Dunkerton as third quarter results loom February 3, 2019 Superdry is gearing up for a clash with former boss Julian Dunkerton if it fails to impress investors with its third quarter results later this week. The fashion retailer is braced for further dispute with co-founder Dunkerton, who has been campaigning to return to the company amid a series of profit warnings and a sharp [...]
Ocado investors set to quiz boss Tim Steiner over M&S food delivery deal February 3, 2019 Ocado boss Tim Steiner will be in the spotlight this week as he delivers the firm’s annual results amid reports of a possible partnership with Marks & Spencer. The two companies are said to be in talks over a food delivery partnership that would see the retailer use Ocado’s warehouses and delivery lorries. Read more: Ocado [...]
Shoplifting increases at UK supermarkets as police admit cuts mean they must prioritise other crimes February 1, 2019 Shoplifting in supermarkets at England and Wales increased by over seven per cent between 2014 and 2017, according to new figures. Police in England and Wales investigated a combined 78,110 shoplifting incidents in 2017, up from 72,423 in 2014, according to the Press Association (PA). Read more: Court rules in favour of Asda workers' equal pay claim [...]
Interim Debenhams chair shortlisted for Moss Bros role February 1, 2019 The interim chair of Debenhams could be in line for the role of chair at suit retailer Moss Bros. According to Sky News, Terry Duddy has been shortlisted as a potential successor to current Moss Bros chair Debbie Hewitt, who will step down from her role later this year. Duddy took on the chairman role [...]
Oddbins falls into administration for the second time in eight years February 1, 2019 Oddbins today became one of the first high street casualties of 2019, as news emerged that the off licence’s owners have fallen into administration for the second time in eight years. Administrators Duff & Phelps confirmed that the companies behind Oddbins and a string of high street alcohol stores are now insolvent. Read more: Oddbins set [...]
Veganuary: Fast food chain Leon says over half of all meals are now vegan February 1, 2019 Vegans swamped fast food chain Leon this month as it sold over a fifth more plant-based meals in January. Vegan meals made up over half of all sales in Leon stores across the country, the restaurant said today. Read more: It's the end of Veganuary, but food retailers need to support vegans all year round and [...]
ScS Group ends talks to buy Sofa.com leaving Mike Ashley in the driving seat February 1, 2019 Home furnishings retailer ScS Group said today it had ended talks with furniture retailer Sofa.com, leaving the way clear for Mike Ashley who is reportedly putting together a multi-million pound bid. ScS said today it is “no longer in discussions regarding a potential acquisition of the business and assets of Sofa.com”. Sky News reported that Ashley, [...]