Retail bosses square up in £6.5bn bidding war for Asda August 21, 2020 Two veteran UK retail bosses are set to go head-to-head in a dramatic £6.5bn private equity bidding war for supermarket chain Asda. Former Debenhams chief executive Rob Templeman is said to be working with Apollo Global Management, while Paul Mason, who served as Asda boss 20 years ago, has teamed up with Lone Star Funds. [...]
Homebase named the UK’s worst retail website in rescue deal aftermath November 13, 2018 DIY retailer Homebase has been named the UK's worst online shopping website, alongside a plethora of other familiar names in a survey conducted by independent consumer body Which?. Homebase received a rating of 55 per cent as part of a survey with over 10,000 consumers evaluating their experiences online. Customers said they found the site [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 25, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
Amazon eyes Homebase stores marked for closure August 19, 2018 Amazon is set to bid for a selection of Homebase stores in a move to improve its last mile delivery process. The online retailer could turn the stores into delivery warehouses when Homebase closes 42 of its 241 sites through a company voluntary arrangement this year. Amazon could use the sites, which are conveniently located in urban [...]
Creditors approve plan to close 42 Homebase stores August 31, 2018 Creditors have thrown DIY store Homebase a lifeline and approved the closure of 42 stores and rent cuts on several others. At a meeting held today in London, creditors passed the proposals with 95.9 per cent voting in favour. Damian McGloughlin, chief executive of Homebase, said: “We are pleased that an overwhelming majority of our creditors, [...]
Home, sweet home: Why it’s time for a national conversation about happier houses August 6, 2020 How have you improved your home during lockdown? And has it truly made you happier? Given that spending on home improvements was one of the first boosts to the economy during spring 2020, with the Office for National Statistics reporting that people in England and Wales spent 147 per cent more time gardening and doing [...]
Moss Bros appoints ex-Ted Baker finance chief as CFO November 19, 2019 Suit retailer Moss Bros has appointed former Ted Baker interim chief financial officer Bill Adams as its new finance chief. Adams, who was interim finance chief at Ted Baker before Rachel Osborne joined the company last week, will takeover from Tony Bennett in February. Previously, Adams was finance director at Argos and Homebase. Read more: [...]
Hilco Capital circles embattled retailer Links of London September 4, 2019 Homebase-owner Hilco Capital is circling troubled jewellery retailer Links of London. The vulture fund is among a number of bidders for Links, which is trying to secure a rescue deal in the coming days, according to Sky News. Read more: Folli Follie hires advisers to weigh up Links sale A deal is likely to be [...]
WH Smith is the UK’s worst high street store, say shoppers May 29, 2019 WH Smith is the worst of all UK high street stores, according to a survey of British shoppers published today. Read more: Ranked: The top 15 retailers to work for The stationery provider got the worst rating of 100 retailers, with just 50 per cent of customers expressing satisfaction based on factors such as quality of [...]
Homebase’s perception drops on news of sale to restructuring firm Hilco May 30, 2018 Last week, in another dent to bricks and mortar retail, Homebase announced it had been sold to retail restructuring firm Hilco for a sum of just £1. Australian company Wesfarmers bought the brand for £340m back in 2016. However, industry experts panned its strategy and management, accusing it of failing to appreciate the difference between [...]