Selfridges put up for sale with £4bn price tag June 10, 2021 The billionaire owners of Selfridges are considering selling the iconic department store group, with bids expected to top £4bn. The Weston Family has lined up advisers at Credit Suisse to advise on a potential sale after receiving an unsolicited takeover approach, React News reported. It is understood offers in excess of £4bn are likely to [...]
‘BrewDog’s next challenge is not making matters worse’, says crisis PR expert June 10, 2021 BrewDog has suffered something of a PR disaster today after tens of former employees posted an open letter online that alleged unfavourable and damaging things about the company. More than 60 ex-BrewDog employees signed the open letter, which was posted to Twitter and alleged the brewery had created a culture of fear at its [...]
Empty stores on Oxford Street rise by a fifth in six months June 10, 2021 The number of empty stores on Oxford Street has risen by nearly a fifth since the start of 2021, as pandemic-led lockdowns took a toll on the high street. Some 17 per cent of stores on London’s most famous street have closed since January, according to research by Property Week. Among the most famous and [...]
UK competition watchdog ‘to probe Amazon buy box’ June 10, 2021 The UK’s Competition and Markets Authority is planning to formally investigate competition at Amazon, according to reports this morning. The investigation comes amid a similar ongoing one by the EU into Amazon. The UK competition watchdog, which has been analysing the online retailer for months, has focused on how Amazon uses data collected on its [...]
BrewDog accused of ‘vanity projects’ and fostering a culture of fear among staff June 10, 2021 BrewDog has been accused of being a “toxic” employer that has led staff to feel fearful and suffer mental health issues as a consequence of working at the company. In an open letter to BrewDog, 61 former employees, plus a minimum of 45 others who “did not feel safe” to include their names or initials, [...]
Wider adoption of product recycling drives growth at Music Magpie June 10, 2021 Tech resale site Music Magpie has seen a three per cent boost in revenue in the last six months, during a period in which it listed on London’s stock exchange. For the six months ending 31 May the site saw revenue of £72.5m, up slightly on the previous six months’ £70.2. Music Magpie’s adjusted EBITDA [...]
DFS navigates lockdowns and supply chain disruption to land profit June 10, 2021 DFS is set to make at least £105m in underlying profit before tax for its 2021 financial year, despite Covid-related disruption and and supply chain issues. In a market update this morning ahead of its full year results, the sofa retailer said total order intake for its fourth quarter was up 92 per cent against [...]
Exclusive: Nightclubs ‘may open doors’ on 21 June regardless of rules June 9, 2021 Some UK nightclubs are considering reopening their doors on 21 June even if the government pushes back the date for lifting lockdown restrictions. Michael Kill, chief executive of the Night Time Industries Association (NTIA), told City PM the sector was “getting to breaking point”, adding that a potential delay to reopening had sparked “panic and [...]
Gap to close 19 stores in the UK June 9, 2021 American retailer Gap will close 19 stores in the UK and the Republic of Ireland following a strategic review of the company. The remaining 50 standalone and outlet stores in the UK and Ireland are still under review, fashion news site Drapers first reported, and will continue to operate until a decision has been made. [...]
Speed shopping: Food delivery space in frenzy as well-funded newcomers eye Deliveroo’s market share June 9, 2021 Getir has become the latest in a raft of fast-growing grocery delivery operators to raise bumper cash injections to fuel ambitious growth plans. The Turkey-based company, which said it can deliver to customers in as little as 10 minutes and launched in the UK in January, secured almost £400m in investment last week, taking its [...]
