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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Apr- 2018 -9 April
Bestway acquires Conviviality retail brands
Bestway Wholesale has completed the purchase of Conviviality’s retail brands, in a deal closed at 11.56pm on Friday (6 April). In the £7m deal, the wholesaler acquired the Bargain Booze, Wine Rack, Select Convenience and WS Retail chains, saving 2,000 jobs. Matthew Callaghan, partner at PwC, said: “This deal safeguards…
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6 April
Bestways poised to purchase retail arm of Conviviality
Cash and carry wholesaler Bestway is set to announce its plan to purchase Conviviality’s retail chains, which includes Bargain Booze. According to reports Bestway, run by Zameer Choudrey, is thought to have paid roughly £7.5m for the Conviviality businesses. The deal will secure roughly 2,000 jobs and will bring the…
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6 April
Sainsbury’s ‘considered’ Mothercare acquisition
Sainsbury’s considered acquiring embattled retailer Mothercare but decided against making an offer, it has emerged. According to the Press Association the supermarket’s deals team had been monitoring the situation regarding the baby retailer over the past few months, with a view to make a potential acquisition. However Sainsbury’s decided against…
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5 April
Conviviality goes into administration
Drinks retailer and wholesaler Conviviality has filed for administration just a day after selling its wholesale business. Administrators PwC released a statement which read: “Matthew Callaghan, Ian Green and David Baxendale of PwC have today been appointed as joint administrators to Conviviality Plc. “Conviviality Plc continues to engage with parties…
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5 April
Magners cider owner buys Conviviality wholesale division
The owner of Magners cider, C&C, has completed a deal to acquire Conviviality’s wholesale distributors. The beverage supplier and retailer has sold its Bibendum and Matthew Clark brands, with the support of brewer AB InBev. C&C was in early morning talks with Conviviality on 4 April, and by the end…
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4 April
Mothercare CEO shock resignation
Mark Newton-Jones abruptly resigned from the position of CEO of Mothercare this morning as the embattled retail chain seeks to stabilise. The firm announced the appointment of David Wood as CEO with immediate effect, but the news of Newton-Jones’ departure caused the group’s share price to fall 2.3% in morning…
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4 April
UK shop prices plummet to lowest point in a year
UK shop prices in March fell at their fastest rate since February 2017. Deflation in non-food prices decreased at a rate of 1.9% in March, according to the British Retail Consortium. Food inflation slowed down substantially in March, inflation standing at 0.4%, down from 1.6% in February. This is the…
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3 April
Conviviality may face legal action from investors
Investors in Conviviality are considering the possibility of legal action against the board of the company amid claims they were misled over its financial health. According to The Times, the rapid demise of the drinks retailer has provoked suspicions about when the board first had concerns over its trading and…
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3 April
21,000 retail jobs lost or threatened so far this year
Over 21,000 jobs have been axed or put at risk in the first three months of the year as retailers struggle to break even. A Press Association analysis revealed that 21,413 staff members have already been made redundant or had their role threatened, with the majority being from large high-street…
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1 April
Clas Ohlson To Sell Fresh Bottled ‘Swedish Air’
To mark the brand’s 100th year birthday, homeware brand Clas Ohlson announces has today announced that it is launching going to sell bottled Swedish Air, a take away container of pure, Swedish air for British consumers to enjoy. Clas Ohlson has been synonymous with Swedish culture since its opening in…
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