Today’s news in brief-12/5/25
Boots chairman Stefano Pessina is set to increase his stake in Walgreens Boots Alliance to nearly 50% following the company’s $10bn takeover by private equity firm Sycamore. While Pessina, who previously held a 17% stake, will invest more to expand his share, Sycamore will take majority ownership. The deal, valued at $23.7bn, is expected to close in late 2025, pending shareholder and regulatory approvals. Boots will continue operating under its current brand portfolio. Sycamore, known for investments in retail and consumer brands like Staples and Hot Topic, will finalise the ownership structure in the coming months. Pessina, who merged Boots with Alliance UniChem in 2006, previously led the company as CEO until 2021.
Debenhams Group, formerly Boohoo, is negotiating a £175m debt refinancing deal. The company is exploring the high-yield market for £50m and is in talks with asset-backed lenders for the remaining £125m. The refinancing follows an October loan repayment of £97m. CEO Dan Finley, who rebranded Boohoo under the Debenhams name earlier this year, aims to transition the business to a marketplace model. The group, which includes brands like Dorothy Perkins and Warehouse, is evaluating financing options to support growth.
Luxury reseller Luxe Collective has ceased trading seven years after its launch. Co-founder Ben Gallagher confirmed the closure, citing a devastating £500,000 warehouse robbery in July 2023 as a key factor. The theft, which saw over half its stock stolen, severely impacted finances and morale. Despite securing a £100,000 investment from entrepreneur Stephen Bartlett on *Dragon’s Den* earlier this year, the emotional and financial toll proved insurmountable. Gallagher acknowledged strategic missteps but emphasised the robbery’s role in the business’s collapse.
Danish homeware retailer Søstrene Grene plans to double its UK store count to 100 by 2027. The brand, known for its Scandinavian design and affordable pricing, will open three new locations this summer in Harrogate, Canary Wharf, and Stirling. The expansion is part of a broader European growth strategy, with 60 new stores slated for 2025. CEO Mikkel Grene credited strong UK customer engagement for the decision, noting the brand’s resilience despite high street challenges. The company is also investing £36m in a new automated logistics hub in the Netherlands and expanding its e-commerce operations.
Kim Kardashian’s shapewear brand Skims will open its first UK store in summer 2026, leasing a 12,000 sq ft space on London’s Regent Street. The 10-year lease marks Skims’ debut in physical UK retail, joining other luxury brands in the area. The Crown Estate praised the move as part of efforts to diversify West End retail offerings. Skims’ chief commercial officer, Robert Norton, called it a “landmark moment” for the brand’s global expansion.
Disney Store will launch a pop-up at Westfield White City in June 2025, featuring exclusive merchandise from Disney films and parks. The temporary store will include interactive elements like daily opening ceremonies and character displays. The opening aligns with Disney’s renewed three-year partnership with Westfield Rise, its retail media agency. VP Enda Kelly said the pop-up aims to bring Disney’s “magical moments” to millions of annual Westfield visitors.