Sports Direct trying to ‘drive Debenhams into administration’ September 2, 2019 Mike Ashley’s Sports Direct is backing a legal challenge against Debenhams’ restructuring plan to “drive it into administration so that it can pick up its assets on the cheap”, a court was told today. The sports retailer is backing a challenge brought by Combined Property Control Group (CPC), which represents the landlords of six Debenhams [...]
On the block: Goals goes up for sale in wake of £12m fraud accusations August 29, 2019 Embattled five-a-side football operator Goals has put itself up for sale this morning, following a torrid six months that has been clouded by accusations of tax fraud. Goals Soccer Centres, which is part owned by retail magnate Mike Ashley, has said today that it is inviting offers for both the business and the assets belonging [...]
Retailers are hoping for a Christmas miracle November 11, 2019 The crucial Christmas trading season was once relished by high street bosses hoping to fatten their profits before the New Year. But so troubled is the sector that the once ‘Golden Quarter’ of retail has lost much of its shine, being viewed today by many executives as a way of raking in just enough cash [...]
Sainsbury’s outperforms big four rivals September 17, 2019 Sainsbury’s was the best performing of the big four supermarkets, according to industry data for the latest 12 week period, as the UK grocery market returned to growth. The supermarket saw sales dip 0.1 per cent in the 12 weeks to 8 September. Read more: Aldi targets London expansion as profit falls Rival grocers Tesco. [...]
Sainsbury’s beats rivals to report sales growth October 15, 2019 Sainsbury’s beat its rivals to become the only major UK supermarket to report sales growth in the last 12 weeks. The grocer’s sales increased 0.6 per cent, its fastest rate since October last year, while the other “Big Four” supermarkets- Tesco, Asda and Morrisons – saw sales decline 0.2 per cent, 0.9 per cent and [...]
DEBATE: With House of Fraser closures, does it matter if consumers desert the high street for online outlets? June 8, 2018 With House of Fraser closures, does it matter if consumers desert the high street for online outlets? John Phillips, general manager (EMEA) at Zuora, says YES. Yes, it does matter if consumers desert the high street. Bricks-and-mortar retail is in trouble. Across the US and Europe, online retail is growing exponentially, while offline sales seem [...]
Full list of 31 House of Fraser closures includes Oxford Street and City of London locations June 7, 2018 House of Fraser's flagship Oxford Street store will close as part of the decision to shutter 31 stores which was confirmed this morning. The City of London will also lose its House of Fraser, which is currently situated on King William Street. Some of House of Fraser's stores have been subject to staggering business rates [...]
Mike Ashley to face shareholder anger at Sports Direct meeting September 10, 2019 Retail tycoon Mike Ashley is preparing to face frustrated Sports Direct shareholders at a meeting tomorrow following a turbulent year for the business. The founder and chief executive of the sportswear retailer has come under fire from shareholder advisory groups in the run up to tomorrow’s annual general meeting. Read more: Mike Ashley makes move [...]
Just Eat ready to serve up £9bn merger with Takeaway.com July 27, 2019 Just Eat is in talks over a £9bn merger with a rival based in Holland. The London-listed food delivery service and Takeaway.com have been in discussions for several weeks. Read more: Sports Direct hit by £605m tax bill and ‘terminal’ House of Fraser issues An agreement should be agreed as soon as the end of [...]
Philip Day tables bid to avoid Jack Wills administration August 5, 2019 British billionaire Philip Day is taking on rival bidder Mike Ashley to keep struggling retailer Jack Wills out of administration. Day’s Edinburgh Woollen Mill Group’s (EWM) offer for the “preppy” fashion brand would seek to avoid a pre-pack administration, it was revealed as the bidding war between the two retail tycoons entered its final hours. [...]