Retail landlord New River REIT swings to a loss on weak investor sentiment November 21, 2019 Property landlord New River REIT swung to a loss in the first half of the year as its portfolio valuation sank due to weak investor sentiment in the retail sector. The FTSE-250 real estate investment trust, which focuses on retail and leisure properties, reported a loss of £21.3m from a profit of £2.7m last year. [...]
Poundland owner Steinhoff secures deal with creditors to pave way for restructuring plans June 29, 2018 The South African retailer that owns Poundland said today that it had got the thumbs up from creditors to move ahead with debt restructuring plans. Steinhoff, which owns brands such as Benson for Beds and Harveys in the UK, said in an update today that it had agreed "key commercial terms" on its restructuring plans, [...]
BT has spent years redesigning its logo and Twitter hates it May 17, 2019 BT is set to unveil its new logo after years of planning, but the internet's reaction won't have delighted bosses at the telecoms giant. Earlier this week the telecoms giant filed a trademark application with the Intellectual Property Office for a new, minimalist logo depicting the letters “BT” in a circle as new chief executive [...]
Poundland owner Steinhoff tells angry shareholders it is renegotiating debt April 20, 2018 Steinhoff, the South African retailer, said today that it is renegotiating its debt as it faced shareholders for the first time since its shares plunged on the emergence of an accounting scandal. An investigation into the scandal is making “good progress”, the acting chairman told investors, and is expected to be completed by the end [...]
Poundland follows controversial Christmas naughty elf campaign with some risqué Easter ads March 26, 2018 Poundland got into hot water last month with the Advertising Standards Authority for its naughty elf Christmas adverts, which were branded offensive and unsuitable to be seen by children. But that hasn’t dampened the discount retailer’s spirit. In fact, it has recently kicked off a new campaign for Easter, featuring a fluffy rabbit and chick. [...]
Former boss of Poundland owner Steinhoff reported to the police January 31, 2018 The former chief executive of embattled retail giant Steinhoff has been reported to the police by the firm. Markus Jooste resigned from Steinhoff, which owns Poundland and Bensons for Beds in the UK, last December when the company postponed its financial statements. Read more: Activist short-selling fell in 2017 as hedgies dug for overvalued stock [...]
De La Rue share price sinks 25 per cent as CEO quits after loss of passport contract May 30, 2019 Shares in UK security printing company De La Rue have plummeted 25 per cent to 343p after it announced its chief executive Martin Sutherland would be stepping down following the company’s failure last year to win the contract to print Britain’s new, blue passports. Read more: Profit slumps at De La Rue following UK passport loss The [...]
Asda to stop selling single knives by end of April March 9, 2019 Asda has announced plans to remove single kitchen knives from sale in response to growing concerns over knife crime. The supermarket chain said the knives would be removed from all stores by the end of April following a rise in knife-related deaths across the UK and in London. So far this year at least 39 [...]
Segro appoints Mondelez chocolate boss Mary Barnard to the board February 6, 2019 Property group Segro today said it has appointed a veteran of confectionery company Mondelez to its board. Mary Barnard, who is currently president of European chocolate for Mondelez, will take up the position of non-executive director from the beginning of March. Read more: Segro rent soars amid rising e-commerce demand for warehouse space The British [...]
Poundland just had its best Christmas ever January 3, 2018 It seems those questionable elf ads did the trick, for Poundland just had its best Christmas since it began trading in 1990, it said today. The bargain retailer said like for like sales in the three weeks to Christmas rose six per cent, while sales in the week before Christmas were 20 per cent higher [...]