Lloyd’s of London and Greene King apologise for slavery links June 18, 2020 Lloyd’s of London insurance market has issued an apology for its role in the 18th and 19th century transatlantic slave trade, calling it “an appalling and shameful” era. The insurer will fund charities and organisations created to promote opportunities for black and ethnic minority groups. Pub chain Greene King also formally apologised, and committed to [...]
FTSE 100 and US stocks slide amid fears over global economy August 20, 2020 The FTSE 100 and US stocks fell after the US Federal Reserve gave a pessimistic view of the economy and the number of Americans claiming new jobless benefits unexpectedly rose. Investors are also concerned about rising coronavirus cases. France reported its biggest increase in cases since May and Spain is struggling to deal with its [...]
Sports Direct offers loans to help stricken House of Fraser suppliers September 6, 2018 Sports Direct has offered loans to some of House of Fraser's stricken suppliers, it has emerged. Mike Ashley and his team will lend money to companies struggling after the retailer collapsed owing £70m to its suppliers, according to Drapers. Read more: Philip Day's Edinburgh Woollen Mill ends business with House of Fraser This comes just a [...]
Crispin Odey’s firm lashes out at Anglo American’s bid for Sirius February 19, 2020 Crispin Odey’s investment firm has said it will vote against any Anglo American offer for Sirius Minerals that is not designated as “final”. In an email to the management of Sirius and Anglo American, Odey Asset Management said it does not believe that Anglo’s current offer represents fair value for Sirius shareholders. It said it [...]
House of Fraser administrator faces complaint over Sports Direct sale September 3, 2018 House of Fraser's administrator is facing a complaint over its handling of the department store's collapse and sale to Sports Direct. In a letter seen by City A.M., businessman Paul Mckie claimed he was told by Ernst & Young on the morning of the administration that the firm had not been appointed. The official complaint, [...]
Sirius Minerals seeks $600m in investment for flagship project November 11, 2019 Sirius Minerals have released revised plans for financing its North Yorkshire potash mine, the largest project of its type in the world. After placing the project under review in September, the London-listed group said that it was seeking $600m (£468.9m) in funding from investors for the project. Read more: Sirius boss buys shares after project [...]
House of Fraser partner threatens legal action over store’s debt against administrators EY October 8, 2018 A House of Fraser concession partner is considering legal action against the company’s administrator EY, claiming its classification of his business will cost him hundreds of thousands of pounds. Ehab Shouly, who runs three tea rooms in House of Fraser stores, says he is owed over £300,000 from the company – the equivalent of two [...]
House of Fraser CVA approved June 22, 2018 House of Fraser's creditors are have agreed to a rescue plan which will result in 31 store closures. Creditors including landlords and suppliers met to vote on the company voluntary arrangement (CVA) today, and have passed the proposal with no amendments. “The approval of the CVAs is a seminal moment in House of Fraser’s history," [...]
House of Fraser CVA approved June 22, 2018 House of Fraser’s creditors are have agreed to a rescue plan which will result in 31 store closures. Creditors including landlords and suppliers met to vote on the company voluntary arrangement (CVA) today, and have passed the proposal with no amendments. “The approval of the CVAs is a seminal moment in House of Fraser’s history,” [...]
House of Fraser CVA approved June 22, 2018 House of Fraser's creditors are have agreed to a rescue plan which will result in 31 store closures. Creditors including landlords and suppliers met to vote on the company voluntary arrangement (CVA) today, and have passed the proposal with no amendments. “The approval of the CVAs is a seminal moment in House of Fraser’s history," [...]