Sir Philip Green admits he made “a bad call” selling BHS to Dominic Chappell June 15, 2016 Sir Philip Green has said he is working on finding a solution for BHS pensioners and claimed most of the buyers who came forward for the company wanted to put it into administration. There have been some testy exchanges as Green faces a grilling from MPs, with questions so far focussing on the advisers who worked with [...]
More BHS bidders revealed following deadline for offers May 18, 2016 Hilco Capital has been named as one of the bidders for beleaguered department story chain BHS, following last week's deadline for offers. BHS went into administration last month, and the company had reportedly attracted the interest of five suitors hoping to buy the whole of the high street retailer ahead of last week's bid deadline. Hilco, reported by ITV [...]
Back of the net: Goals Soccer Centres to raise £16.75m and completes strategic review June 3, 2016 Goals Soccer Centres will kick off a share placing to raise £16.75m this summer, as part of a new plan for the group after completing an in-depth business review. The company, which operates more than 40 five-a-side football centres across the UK, will place 16.75m shares at a price of £1 per share, and said the proceeds [...]
BHS collapse: Sir Philip Green set to appear before MPs next week June 8, 2016 Billionaire retailer Sir Philip Green will be given the chance to present his side of the remarkable story of BHS’ collapse when he appears before MPs next week. The former BHS owner, who will answer questions from two Westminster committees, faced a wave of criticism during today's parliamentary sessions. Green sold the business to Retail Acquisitions, [...]
Theresa May can reform Britain’s companies for the better – and she doesn’t need reams of new regulation to do it September 5, 2016 Britain's new Prime Minister Theresa May has created a big challenge for herself in proposing wide-reaching reform of the way companies are run. A close look at the existing Company Law, however, could help her deliver an important part of this agenda without a large swathe of new rules and regulations. Her suggestions that worker [...]
Preston millionaire Yousuf Bhailok pulls out of BHS bidding May 17, 2016 Today is the deadline for bidders to improve their offers in the battle for acquiring BHS, ahead of a final decision on the sale which could come as soon as tomorrow. Administrators Duff & Phelps have been assessing bids from various parties over the past week and it is understood that a decision will be made [...]
Editor’s 2016 review: It’s been a year of momentous political change, but there’s every reason to look to the future December 22, 2016 Attempting to reflect such an extraordinary year with just a handful of our own front pages was always going to be difficult, but I thought we’d give it a go. The front page of City A.M. is (to borrow a phrase from our marketing department) the front door of our brand. The choice of splash, [...]
Two Champions League winning managers, a wealth of ambitious foreign owners and exciting England prospects – whether you support Leeds or Newcastle, the Championship can be relied on for entertainment August 3, 2016 Tomorrow a football competition starts in London featuring ambitious and enigmatic billionaire owners from across the globe, a cosmopolitan array of managers — including two Champions League winners — and some of the most exciting young players in England. But this isn't the Premier League. It is, of course, the Championship. English football’s second tier [...]
Sports Direct share price jumps as it calls its financial year “disappointing” as pre-tax profit plummets July 7, 2016 Sports Direct delivered, in its own words, a disappointing year, pushing its sales up by just 0.6 per cent Its share price jumped over 11 per cent in early morning trade on the results, which were actually better than many expected. The figures Sports Direct posted group revenue of £2.9bn for the year ended 24 [...]
Sports Direct AGM: Mike Ashley can ignore the outraged of Twitter – but in the new world order, he ignores investors at his peril September 10, 2015 Shareholder unrest over corporate governance or transparency is nothing new, but in this age of social media and e-petitions, public outcry over certain business practices is often louder than it once was. Last week, public opinion, along with a dollop of union pressure, forced restaurant chain Pizza Express to change its policy over tipping. [...]