Linklaters’ Mr Tough Guy on why the next two months are key for the City September 28, 2009 THE legal profession might be going through one of its biggest slumps in a decade – but you would not know that looking at Linklaters’ senior partner David Cheyne. A small, dapper man, he is relaxed and all smiles as he sits in a tastefully furnished ground floor meeting room at the firm’s Silk Street [...]
Dunelm sales surge in downturn September 15, 2009 Homewares retailer Dunelm yesterday reported a surge in recent sales growth and said it planned to create up to 1,000 jobs this financial year, boosting its shares 16 per cent to a new high. Dunelm, which sells products like curtains, bedding, blinds, rugs and lighting, said sales at stores open at least a year jumped [...]
Over 5,000 retailers to fail September 1, 2009 OVER 5,000 retailers are set to go out of business next year in further evidence of the embattled state of the high street. The retail sector has already suffered from a steep decline in consumer confidence and rising unemployment is set to batter the industry further, according to figures out yesterday by accountants and business [...]
More retailers could follow Woolies as hard times continue August 31, 2009 RETAILERS were in August their most positive since November 2007, a recent survey from the Confederation of British Industry (CBI) showed. Only 2 per cent of retailers surveyed by the CBI in August are expecting the situation to get worse, despite high street sales falling for the fourth month running. And indeed, with all the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 10, 2009 FINANCIAL TIMES BBC ARM WINS COURT RULING ON 2ENTERTAINBBC Worldwide, the BBC’s commercial arm, has won a court case against the administrators of Woolworths over the value of their 2Entertain joint venture. The decision at the High Court in London is likely to face an appeal by Deloitte, the administrators, who are fighting to maximise [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 10, 2009 FINANCIAL TIMES BBC ARM WINS COURT RULING ON 2ENTERTAINBBC Worldwide, the BBC’s commercial arm, has won a court case against the administrators of Woolworths over the value of their 2Entertain joint venture. The decision at the High Court in London is likely to face an appeal by Deloitte, the administrators, who are fighting to maximise [...]
E&Y earns 3.2m while many Zavvi creditors miss out July 26, 2009 ERNST & Young (E&Y) has made £3.2m in fees after being appointed as joint administrators to Zavvi after the business collapsed last December, whilst unsecured creditors are set to receive only between 5-10p in the pound. Unsecured creditors, which include employees , trade creditors and voucher holders, are set to receive 5-10p for every pound [...]
E&Y earns 3.2m while many Zavvi creditors miss out July 26, 2009 ERNST & Young (E&Y) has made £3.2m in fees after being appointed as joint administrators to Zavvi after the business collapsed last December, whilst unsecured creditors are set to receive only between 5-10p in the pound. Unsecured creditors, which include employees , trade creditors and voucher holders, are set to receive 5-10p for every pound [...]
BBC bonuses culled amid profit slide July 14, 2009 THE BBC’s commercial arm reported a 27 per cent drop in full-year profit yesterday, as the broadcaster said it had suspended all executive director bonuses until further notice. BBC Worldwide said pre-tax profit slid to £85.7m in the year ending March 2009, despite revenue hitting £1bn for the first time. The company blamed the drop [...]
Freshfields is City’s top legal firm July 2, 2009 FRESHFIELDS Bruckhaus Deringer has overtaken rival Clifford Chance to clinch the top spot among the UK’s highest-grossing law firms. Profit per equity partner – considered the best measure of a law firm’s profitability – remained broadly constant for the 2008/09 financial year at £1.44m, outperforming rivals who saw profits slump. Revenue hit £1.29bn, an increase [...]