Administration
This coverage explores retail administrations and insolvencies within the UK market, examining the circumstances, decisions, and consequences for businesses, employees, and creditors. Reporting highlights notable cases, restructuring efforts, store closures, and leadership actions aimed at recovery or winding down. Designed for executives and managers, it offers insights into risk, resilience, and lessons from commercial failures.
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Jul- 2024 -23 JulyNews
Today’s news in brief-23/7/24
Tapi Carpets and Floors Limited has acquired the Carpetright brand and 54 stores following its collapse into administration. While over 300 jobs were saved, more than 1,500 employees face redundancy due to the challenging retail climate and recent cyber attack woes. Ikea plans to open 100 additional click-and-collect points at…
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23 JulyDIY
Tapi rescues Carpetright brand as 1,500 jobs lost
Rival brand Tapi has acquired the Carpetright brand and 54 of its stores out of administration but more than 1,500 jobs are set to be axed, it has been revealed. Whilst the deal has saved over 300 jobs, administrators from PwC said it was with “deep regret” that 1,018 employees were…
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22 JulyDIY
Homebase owner considers sale amid interest from The Range
Homebase owner Hilco Capital is reportedly considering a sale after it was approached from The Range for the DIY retailer, according to reports from Sky News. A formal sales process is set to commence in the coming days with other potential bidders involved. Sources suggested that the interest from The…
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19 JulyDIY
Carpetright rival close to rescue deal
Carpetright competitor, Tapi, is reportedly close to striking a deal to acquire the retailer out of administration, according to The Times. This comes after Carpetright placed its administrators at PwC on standby last Friday (12 July), as it sought “a period of protection” to secure an additional investment. While the…
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17 JulyHealth & Beauty
Mike Jatania enters exclusivity with Body Shop over rescue deal
Businessman Mike Jatania’s consortium, Auréa Group, has officially entered into an exclusivity agreement with the administrators of The Body Shop, FRP Advisory. It is understood from a statement that Auréa’s management team will be led by former Molton Brown and Erno Laszlo CEO Charles Dento, following the competitive bidding process. …
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12 JulyNews
Retailers spend 300 hours a year fighting work admin, study finds
The average retail business is spending nearly 300 hours each year consumed with admin in their day-to-day jobs, according to new research. The study, from Brightpearl by Sage, who polled over 1,000 businesses, found that on average, retailers are spending an average of 5.7 hours weekly, 24 hours and 38.6…
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11 JulyNews
Today’s news in brief-11/7/24
The UK economy surpassed expectations with a 0.4% GDP growth in May 2024, boosted by improved weather conditions. The services sector led growth, expanding by 0.3%, while construction grew by 1.9%. Analysts see this growth influencing the Bank of England’s upcoming interest rate decision. British entrepreneur Mike Jatania is nearing…
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11 JulyHealth & Beauty
British entrepreneur close to Body Shop deal
British entrepreneur Mike Jatania is close to completing a rescue deal for The Body Shop, according to reports from Bloomberg. Jatania is thought to be part of a consortium alongside ex-Molton Brown CEO Charles Denton amongst others. It is believed that the retailer’s new owners are planning to retain all…
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1 JulyNews
Today’s news in brief-1/7/24
Several firms, including Gordon Brothers led by Mark Newton-Jones, are bidding to rescue The Body Shop’s UK business after its collapse into administration earlier this year. Alteri and Modella Capital are also considering bids. The retailer, known for its beauty products, faced financial difficulties despite a recent takeover attempt. Administrators…
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1 JulyHigh Street
Former Mothercare boss among The Body Shop bidders
Several private equity giants are reportedly eyeing a rescue bid for The Body Shop’s high street business, The Telegraph has reported. Gordon Brothers, whose UK business is led by former Mothercare boss Mark Newton-Jones, is said to be among several firms that have submitted bids for what remains of the chain. …
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