Wework considers cutting its listing valuation by half September 5, 2019 Wework’s parent company is considering dramatically slashing the valuation it will seek when it sells shares on the public stock market for the first time. Read more: Wework adds woman to board after criticism ahead of listing New York-based the We Company is deliberating seeking a valuation of just over $20bn (£16.2bn), people with knowledge [...]
Queen’s Birthday Honours: the full 2021 list June 12, 2021 Below the full list of names for this year ORDER OF THE BRITISH EMPIRE Knights Grand Cross of the Order of the British Empire (GBE) The Rt. Hon. Frederick Richard Penn Curzon, The Earl Howe. For political and parliamentary service. (Amersham, Buckinghamshire) ORDER OF THE BATH Knights Commander of the Order of the Bath (KCB) [...]
Mike Ashley’s Sports Direct buys Jack Wills for £12.8m August 5, 2019 Retail tycoon Mike Ashley’s Sports Direct has bought struggling high street brand Jack Wills out of administration for £12.75m. Ashley won a race against British billionaire Philip Day, who owns the Edinburgh Woollen Mill Group, to snap up the “preppy” fashion retailer. Read more: Philip Day tables bid to avoid Jack Wills administration Will Wright [...]
India’s richest man Mukesh Ambani snaps up iconic toy store Hamleys May 10, 2019 Iconic toy retailer Hamleys has been sold to India’s richest man Mukesh Ambani for an undisclosed sum. Mumbai-headquartered conglomerate Reliance Industries, which is owned by Ambani, said late last night it had signed a deal to buy the chain from Chinese giant C Banner International. Read more: Billionaire Mike Ashley may bid for iconic toy [...]
Game recommends Sports Direct takeover offer June 21, 2019 Game has recommended shareholders approve a £51.9m takeover offer from Sports Direct. The company said Mike Ashley’s offer of 30p per share represents a “fair value” for the group. Read more: Mike Ashley’s Sports Direct lines up game takeover Game said the takeover would help it drive forward its esports initiative Belong Gaming Arenas. However, [...]
French Connection extends sale deadline June 28, 2019 French Connection has extended the deadline to complete a sale as the retailer confirmed it was in talks with a number of interested parties. The fashion brand had expected to close the deal in the first half of this year but has now pushed the date back to September. Read more: Sales fall again at [...]
Mulberry finance boss heads for the exit March 19, 2019 Mulberry has announced the resignation of its finance chief this morning, who is departing the luxury fashion house months after it posted widening losses and suffered a sharp drop in its share price. Neil Ritchie, who took over the post as group finance director just three years ago, will step down from his role at [...]
Mike Ashley’s Sports Direct lines up Game takeover June 5, 2019 Mike Ashley is set to lodge a bid for Game Digital, as the retail tycoon’s spending spree shows little sign of slowing down. Sports Direct, which already owned a 20 per cent holding in Game, has launched a takeover offer for the gaming firm after upping its stake in the group to roughly 38 per [...]
Sports Direct takes profit hit from ‘challenging’ House of Fraser acquisition December 13, 2018 Sports Direct has posted a 27 per cent drop in half-year profits today, as costs from the acquisition of beleaguered department store chain House of Fraser weighed on the group’s balance books. Shares in Sports Direct slumped 12.7 per cent this afternoon, with the retailer rushing out an urgent clarification this afternoon after Mike Ashley said [...]
US private equity giant Carlyle reshuffles its top team in Europe April 3, 2019 US private equity firm Carlyle has shaken up its executive team in Europe. One of its most senior female executives Zeina Bain left the private equity player on Friday and is joining UK fund manager ICG, the Financial Times reported. Read more: Carlyle Group to buy insurance service Sedgwick for £5.1bn Bain was at Carlyle [...]