Frasers adds troubled Missguided to empire in £20m takeover June 1, 2022 Frasers Group has snapped up beleaguered online retailer Missguided, the British retail giant confirmed in a regulatory filing today. The Mike Ashley-founded group, which owns House of Frasers and Sports Direct, has bought Missguided for £20m, following its collapse earlier this week. Fast fashion rival Boohoo was understood to be interested in buying the collapsed [...]
All sizzle and all stake: Salt Bae’s restaurant owner to sell stake to Qatar wealth fund May 31, 2022 Internet meme and meat seasoner Salt Bae’s steakhouse owner is in talks to sell a 20 per cent stake to Qatar’s $450 billion wealth fund. Dream Group, owner of restaurants including the Nusr-Et steakhouse – which was founded by Turkish butcher and salt sprinkler Nusret Gökçe, who later became an Instagram sensation – confirmed discussions [...]
Missguided workers eye legal action after “emotionless” redundancies May 31, 2022 Missguided workers are eyeing legal action against the fast fashion brand as it hashes out a sale. After calling in administrators yesterday, the beleaguered online retailer is facing criticism from suppliers and former employees. Law firm Aticus has said it is readying legal action after employees have claimed the redundancy process was not properly managed. [...]
Royal Mail delivery managers to vote on strike action as hundreds of jobs could be axed May 31, 2022 Delivery managers at Royal Mail will be balloted for strike action, with union bosses warning there could be parcel delivery chaos this summer. Postal workers are unhappy with plans to slash some 524 frontline delivery manager roles, with Unite the union declaring there would be a ballot. Some 2,400 managers will decide on whether to [...]
French authorities dismiss criticism of Paris police ‘brutal’ treatment of Liverpool fans and point to ticket fraud May 31, 2022 European governing body UEFA announced last night that an independent and comprehensive review will be conducted into the dangerous events outside the Stade de France last weekend. The announcement followed after Liverpool accused French authorities of trying to “deflect responsibility” for the chaotic scenes that marred Saturday’s Champions League final in Paris. However, UEFA initially [...]
Soaring costs offset revenue boost for South West water giant Pennon May 31, 2022 South West water giant Pennon labelled 2021 a year of “resilient performance” today as it posted a dip in pre-tax profits to £127.7m for the full year.
B&M sales dip as discount retailer names new chief May 31, 2022 Discount retailer B&M has warned trading patterns are anticipated to “remain unpredictable” in the year ahead, while it feels ready to reap the rewards of shoppers hunting for bargains amid sky-high inflation. In results for the year to 26 March 2022, group revenue dipped 2.7 per cent on the prior year to £4.67bn. However, this [...]
Primark chief regrets raising prices but says it is ‘a reflection of the scale of inflation we are seeing’ May 31, 2022 Primark executive John Bason said he “regrets” the fashion firm’s decision to raise prices. In April, Primark warned that it will increase prices on its autumn and winter collection as costs go up for businesses around the world. The budget fashion chain said it would make “selective” rises in the range. Bason, who is the [...]
Shop workers see violence and abuse triple amid Covid pandemic to tune of £1.5bn May 31, 2022 Retail workers have seen violence and abuse triple during the pandemic, with the total cost of these crimes hitting £1.5bn this year. In a survey by the British Retail Consortium (BRC), incidents of violence and abuse against shop workers were reported to have surged amid the pandemic. There were some 1,301 incidents a day in [...]
Missguided collapses into administration as fast fashion brand seeks buyer May 30, 2022 Missguided has collapsed into administration, after being hammered by supply chain costs and weakening consumer confidence. Fast fashion rival Boohoo is interested in snapping up the beleaguered brand, CityA.M. understands. Administrators from Teneo said there was “a high level of interest from a number of strategic buyers.” The Manchester-based firm had fallen foul of an [...]
