Sir Stuart Rose takes the hot seat at Ocado January 22, 2013 SIR STUART Rose, the former boss of Marks & Spencer, is to become chairman of Ocado, in a major coup for the online retailer. The company said Sir Stuart is to replace Sir Michael Grade after its annual general meeting in May. Grade, best known for his roles at ITV and Channel Four, will be [...]
Hilco snaps up HMV debt pile to take control January 22, 2013 HMV was given a potential lifeline yesterday after restructuring firm Hilco bought the crisis-hit music retailer’s debt for about £40m, effectively giving it control of the group. Hilco – which already owns HMV Canada – confirmed yesterday it had acquired HMV’s debt from the group’s consortium of lenders led by the Royal Bank of Scotland [...]
Music and film industries offer concessions to keep HMV afloat January 20, 2013 THE WORLD’S biggest music and film companies are backing a takeover attempt for HMV, and are considering new supply terms to keep a rejuvenated company afloat. The likes of Universal Music and Warner Bros are understood to be exploring a range of options, such as cutting prices on CDs and DVDs or easing payment terms. [...]
HMV boss vows brand has high street future January 15, 2013 THE BOSS OF HMV said yesterday he was “convinced” the crisis-hit music chain still has a future on the high street, as a number of firms emerged as potential bidders for the company. Deloitte was officially appointed as administrator to HMV yesterday morning, putting 4,123 jobs at its headquarters and 223 stores at risk. But [...]
Short-term leases for start-up stores January 13, 2013 FIGURES from the British Retail Consortium tell a story familiar to any casual high street visitor. As of November 2012, 11.3 per cent of all UK shops lay empty, with shopping centres laid waste by the collapse of Woolworths, Comet, and Jessops. This isn’t exactly good news for newer retailers. The reasons behind the fall [...]
Hilton agrees Australian venture January 10, 2013 Hilton Food, the meat packing company which supplies major retailers including Tesco, yesterday reported a “solid” performance in the UK and Ireland last year and said that it had performed in line with board expectations. The group, which is due to publish its full-year results in March, also announced it is stepping up its expansion [...]
Comet forecast to leave high street by Xmas November 28, 2012 COMET’S administrators yesterday confirmed they are to close a further 125 stores and may shut the entire business by the end of the year unless a buyer can be found, in a devastating blow for the high street. Deloitte said just 70 stores of the original 236 stores will continue to trade until all of [...]
Hancock twins make sweet deal after selling the family business November 22, 2012 THE TWIN brothers behind the pick ‘n’ mix company Hancocks have sold the family business to a Dutch private equity firm for £50m. Andrew and Adrian Hancock have sold the Leicestershire-based cash and carry business founded by their parents 50 years ago to H2 Equity Partners, the group said yesterday. The sweets and chocolates specialist [...]
Several bidders line up for JJB Sports in race to buy the chain September 13, 2012 DEBT-LADEN JJB Sports said last night that it was in talks with several parties who have offered to buy it but ordinary shareholders were unlikely to see any value from a deal. The sporting goods retailer’s shares more than doubled to 0.79p but closed up 30 per cent at 0.45p on the London Stock Exchange [...]
Several bidders line up for JJB Sports in race to buy the chain September 13, 2012 DEBT-LADEN JJB Sports said last night that it was in talks with several parties who have offered to buy it but ordinary shareholders were unlikely to see any value from a deal. The sporting goods retailer’s shares more than doubled to 0.79p but closed up 30 per cent at 0.45p on the London Stock Exchange [...]