High Street
The latest news, updates and analysis on the the British High Street and UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Jul- 2019 -1 July
Bonmarché shareholder slams company as it sells stake to Day
Investment company Cavendish Asset Management has sold its 10.8% stake in fashion retail Bonmarché to Spectre Holdings, a company owned by retail tycoon Philip Day. The £600,000 deal has now increased the businessman’s stake, increasing his chances of a takeover. The news comes after Day closed his £5.7m bid to…
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Jun- 2019 -28 June
French Connection delays company sale
Fashion retailer French Connection is set to delay completion of its sale to September, to coincide with the company’s interim earnings report. Talks will still be ongoing with interested parties in the meantime. The statement from the company released today (28 June) said: “Discussions have progressed since then and are…
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27 June
Bathstore goes into administration putting 500 jobs at risk
Bathroom retailer Bathstore has appointed audit and business advisory firm BDO as administrators as the company attempts to be sold as a going concern. The retailer has 135 stores across the UK and employs 531 staff; it will continue to trade as normal. Ryan Grant, BDO business restructuring partner, said:…
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26 June
Cash Converters acquires 28 pawn books from The Money Shop
Second hand retailer, Cash Converters, has acquired pawnbroking loan books from The Money Shop, after the instant cash loan company closed a selection of branches across the UK. As part of the deal, Cash Converters have acquired 28 books, which span the breadth of the UK. Nine franchisees have taken…
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25 June
EWM income rises after acquisitions
Retailer Edinburgh Woollen Mill (EWM) has announced a significant increase in revenue to £936m for the 18-month period to August 2018, compared to the 12-month period to February 2017, which included the purchase of Jaeger after it went into administration. The results, which were published on Companies House, also saw…
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24 June
Game accepts £52m Sports Direct takeover
Video game retailer Game has agreed to Sports Direct’s £52m takeover offer. Prior to the agreement, the retailer’s board said it had been considering the merits of the mandatory offer and consulting with its major shareholders and advisers, whilst also actively engaging in normal course discussions with Sports Direct and…
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24 June
Pensions Regulator boss to face questions over Arcadia deal
The Pension Regulator (TPR) boss, Charles Counsell is set to appear in front of the Work and Pensions Committee, regarding the settlement with Arcadia boss Philip Green last month. The agreement, saw Green pledge an extra £25m per year to its company pension fund for three years, while in return…
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21 June
Usdaw to protest at Boohoo AGM
Retail trade union The Union of Shop, Distributive and Allied Workers (Usdaw) is set to protest Boohoo’s AGM today, (21 June) over the company’s refusal to meet over ethical trading. The protest will take place at Boohoo’s HQ on Dale Street in Manchester, and at its AGM on Hardman Square,…
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20 June
Dunelm raises profit forecast for second time
Dunelm Group has announced it has continued to see “strong trading” across its business and has decided to raise its profit forecast for the second time this year. Since its last update on 10 April 2019 the home furnishings retailer said it has experienced “very good year-on-year total like for…
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20 June
Wyevale Garden Centres agrees sale of 11 stores
Gardening retailer Wyevale Garden Centres (WGC) has announced the sale of a further 11 centres, in four separate transactions to British Garden Centres (BGC), The Plant Area Limited, Coolings Garden Centres and Maidenhead Aquatics. BGC will acquire eight centres: Albrighton, Birchencliffe, Bressingham, Gardenlands, Hemel Hempstead, Louth, Tarporley and Wolseley Bridge,…
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