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 [...]
Chapel Down bolsters position as UK’s largest winemaker with new vineyard September 6, 2018 Chapel Down has announced the acquisition of another patch of land in Kent, affirming its position as the largest producer of English wine. The site in Boxley adjoins the company's existing vineyards in the North Downs, meaning it will be able to create England's largest vineyard. It adds 388 acres of land which will be vined [...]
Grind snaps up former Jamie’s Italian site in Greenwich September 6, 2018 Fast-growing London coffee and restaurant brand Grind has snapped up a former Jamie's Italian site in Greenwich for its biggest site to date. The site on Nelson Road was one of 12 restaurants shuttered by Oliver's company at the start of this year as part of a company voluntary arrangement (CVA). Grind now plans to [...]
Luxury retailer Anine Bing closes $15m series A led by Felix Capital, Index Ventures and Greycroft Partners September 6, 2018 Luxury womenswear brand Anine Bing has closed a $15m series A financing round led by London-based venture capital firms Felix Capital and Index Ventures and LA's Greycroft Partners. The retailer plans to use the funding to double its business between 2019 and 2020, and has aggressively accelerated sales and traffic. Read more: Challenger banking app Monese lands $60m funding round Over the last [...]
Burberry to stop burning unsold stock and ditch fur from collections September 6, 2018 Burberry has announced it will no longer destroy unsold items after widespread outrage from investors and campaigners to the practice. The luxury fashion house has also confirmed it will no longer use real animal fur in its collections, starting with new creative director Riccardo Tisci's debut show this month. Following the revelation in July that Burberry [...]
Asda ends price guarantee scheme as it eyes lower prices after Sainsbury’s merger September 6, 2018 Asda has joined the rest of the big four in ending a price guarantee initiative, saying it is "less relevant" to customers. The tool will be available until 3 October this year, and customers will still be able to redeem their vouchers for 28 days from the date they receive them. The grocer's chief customer [...]
Marston’s appoints Lazard’s UK CEO as its new chairman September 6, 2018 The UK boss of financial adviser Lazard is headed to the pub with a new job as chairman of Marston's. William Rucker will take on the position from the beginning of next month, taking over from interim chair and Tesco veteran Carolyn Bradley. He has been chief executive of Lazard in the UK since 2004. He has previously [...]
The sugar tax is failing – let’s empower people to make their own choices instead September 6, 2018 It’s been five months since the so-called “sugar tax” was introduced, charging manufacturers a levy according to the amount of sugar in their drinks products. Ostensibly its aim was to combat obesity. But recent Nielsen data shows that the tax has had little impact on consumer behaviour. Around two thirds (62 per cent) of consumers [...]
Dixons Carphone reveals flat revenue growth following data breach September 6, 2018 Dixons Carphone said it has avoided a loss in its latest trading period, following a cyber attack that saw up to 10m customer records hacked. The figures The electricals retailer said both UK & Ireland and group revenue was flat for the three months to the end of July in a trading update for its [...]
John Lewis have it right: changing tastes show retail’s centre cannot hold September 5, 2018 If you look past the shiny new signage on the front of the John Lewis & Partners flagship Oxford Street store, there is a much more interesting change going on inside. The retailer’s new name is not the only way it is signalling pride in its employees. Partners are becoming more visible throughout stores. “While [...]
