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, [...]
Homebase up for sale following major structural overhaul November 11, 2020 DIY chain Homebase is up for sale again following two and a half years of major structural overhaul by its most recent buyers. It is understood the sales process will start in the coming days, with initial details set to be sent to prospective buyers – including other retailers and private equity, The Telegraph reported [...]
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. [...]
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 [...]
Homebase makes early return to profit as turnaround plan pays off February 27, 2020 Homebase today said it had returned to profit earlier than expected after its turnaround plan helped deliver strong growth. The DIY retailer reported earnings before interest, tax, depreciation and amortisation of £3.2m for the year, up from a £114.5m loss in 2018. Homebase has embarked on a radical turnaround strategy after it was bought by [...]
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 [...]
Debenhams chairman to step down as restructuring expert appointed chief exec August 7, 2019 Debenhams chairman Terry Duddy is preparing to step down next month as the beleaguered department store’s owners appoint a restructuring expert as its new chief executive. Retail veteran Duddy, who previously ran Argos and Homebase, will leave chief restructuring officer Stefaan Vansteenkiste in charge of the company, Sky News reported. Read more: Debenhams prepares to [...]
Homebase buys Bathstore out of administration July 22, 2019 Homebase has bought Bathstore out of administration, however, hundreds of jobs remain at risk as 124 stores are facing closure. The company will take over 44 branches and the Bathstore website, and plans to open a “significant” number of concessions within its own stores over the next 18 months. Read more: Homebase closes in on [...]
Homebase closes in on Bathstore takeover July 19, 2019 Homebase is set to buy struggling retailer Bathstore after the UK’s largest bathroom specialist fell into administration three weeks ago. Administrators BDO have since been looking for a buyer to save the flagging chain, and now Homebase are close to agreeing a deal, according to The Telegraph. Read more: Homebase named UK’s worst retail website [...]