Mike Ashley throws accusations at administrator as he abandons bid for cake shop Patisserie Valerie February 11, 2019 Retail tycoon Mike Ashley has pulled his bid for scandal-hit Patisserie Valerie, lashing out with claims the cafe chain’s administrators withheld vital information. Ashley’s Sports Direct said today it was “reluctantly” withdrawing its bid to lift the struggling firm out of administration, just two days after the offer was tabled. Read more: Sports Direct makes [...]
One in 10 high street shops lie empty as retailers face spring reckoning February 10, 2019 The extent of the crisis facing UK retailers was laid bare this morning after new figures revealed one in 10 high street shops lie empty, while a string of upcoming cost increases could deal a death blow to struggling stores in the spring. Rising taxes and a shift to online shopping have ravaged British high [...]
SSP boss Kate Swann faces shareholder backlash over executive pay February 10, 2019 SSP chief executive Kate Swann is facing a shareholder rebellion over her £6.2m pay packet. Proxy advisor Glass Lewis recommended that investors vote against Swann’s remuneration package at a meeting later this month as the level exceeds the compensation received by chief executives at similar firms. Read more: City boss Kate Swann leaves SSP with 'petrol [...]
Pret A Manger reveals latest plans to help London’s homeless by providing them accommodation and employment February 9, 2019 Pret A Manger has announced a new initiative to help homeless people by providing them accommodation and employment to help them get back on their feet. The company has had a charitable wing, The Pret Foundation, since 1995 and continues to help the homeless by giving away unsold food – up to three million items [...]
Sir Philip Green accused of sexual and racial abuse and making £1m payouts in exchange for silence February 9, 2019 Topshop billionaire Sir Philip Green paid a female employee £1m to keep quiet after she accused him of kissing and groping her, according to a report in the Daily Telegraph. The paper alleges that Sir Philip called the senior female member of staff a “naughty girl” and made comments about her weight. It reported that [...]
Mike Ashley’s Sports Direct makes offer to rescue collapsed Patisserie Valerie February 9, 2019 Mike Ashley’s Sports Direct has made an offer to buy the collapsed café chain, Patisserie Valerie, which fell into administration last month. Sports Direct confirmed in a statement late on Friday that it had made an offer to buy the company but did not divulge any further details. Ashley, 54, is hoping to add to [...]
Ocado robot warehouse fire extinguished February 8, 2019 A major fire which has destroyed one of Ocado’s flagship robotics distribution centres has been extinguished this afternoon, putting an end to a three-day inferno at the firm's Andover site. The delivery giant's share price climbed three per cent today, recovering some losses in the blue-chip firm's stock value after investors feared for the firm's [...]
Topshop billionaire Sir Philip Green drops legal injunction against the Telegraph February 8, 2019 A High Court judge has officially dropped Sir Philip Green's legal injunction against the Daily Telegraph. The Arcadia chairman had previously prevented the newspaper from publishing allegations of misconduct against five employees, including alleged sexual harassment and racial abuse. Mr Justice Warby granted the Topshop billionaire his request to discontinue the injunction on Friday, just [...]
L’Oreal sales bolstered by Chinese demand for luxury skincare creams February 8, 2019 French beauty group L’Oreal trumped sales forecasts towards the end of last year, as Chinese demand for high-end skincare products boosted fourth-quarter results. Shares edged up slightly in morning trading after the firm reported an 8.6 per cent rise in the final quarter of 2018, following strong demand for goods in the firm’s luxury and [...]
West End property giant Shaftesbury posts ‘resilient’ retail demand ahead of investor showdown February 8, 2019 London landlord Shaftesbury said this morning that demand for retail space had been resilient over the crucial Christmas trading period, with consumers continuing to visit bars and restaurants in the firm’s West End portfolio during the festive season. The FTSE 250 group, which is bracing itself for a shareholder showdown at its Annual General Meeting (AGM) [...]
