Barclays
This coverage examines Barclays’ activities and influence on the UK retail sector, with reporting on economic outlooks, lending practices, partnerships, and service initiatives that impact retailers. Tailored for retail executives, finance managers, and planners assessing banking relationships, credit availability, and broader financial trends affecting retail operations.
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Jan- 2023 -23 JanuarySupermarkets
Asda owners eye potential £13bn EG Group merger
Asda owners Mohsin and Zuber Issa are reportedly considering merging the company with the EG Group ahead of EG’s £7bn refinancing in 2025, according to the Times. Both companies are jointly owned by the blackburn-based brothers and private-equity company TDR Capital. The owners hope that by merging the businesses they…
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Oct- 2022 -17 OctoberHigh Street
Asos enters final stages of financial amendment
Online fashion retailer Asos has said it is in the final stages of agreeing an amendment to the future financial covenants in its revolving credit facility. It comes after Sky News reported that banks including Barclays, HSBC and Lloyds Banking Group were lining up AlixPartners and law firm Clifford Chance…
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Jul- 2022 -19 JulyClothing & Shoes
Joules raises FY profit guidance as cost cuts bear fruit
Clothing and homeware brand Joules has revealed it expects FY22 adjusted profit before tax and adjusting items to be “slightly ahead of current market expectations” as its additional cost reductions begin to bear fruit. It revealed the trading trends outlined in the group’s previous update have also continued for the…
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4 JulySupermarkets
Supermarket Income acquires four supermarkets in £82.9 deal
Supermarket Income REIT plc, a real estate investment trust, has announced it has acquired two supermarket sites for a total purchase price of £82.9m. The company has purchased a Tesco superstore, Marks and Spencer Foodhall and an Iceland in Chineham, Basingstoke, and an Asda supermarket in Carcroft, Doncaster. The 18.7…
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Jun- 2022 -24 JuneClothing & Shoes
Original Factory Shop mulls sale amid bid offers
The Original Factory Shop (TOFS) is reportedly mulling a sale after the discount retailer was approached with a “number” of takeover offers, according to Sky News. According to the publication, Duke Street, which has owned TOFS since 2007, has now instructed Deloitte to help it explore a potential takeover deal.…
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May- 2022 -26 MayNews
JD Sports chair Peter Cowgill steps down with immediate effect
JD Sports Fashion Plc has announced that Peter Cowgill, currently executive chairman, will step down from his role with immediate effect. As a consequence of an ongoing review of the company’s internal governance and controls, JD Sports has decided to accelerate the separation of the roles of chair and chief…
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Feb- 2022 -10 FebruarySupply Chain
Retailers cancel £7.1bn in contracts over ethical concerns
UK retailers cancelled £7.1bn in contracts over the last 12 months over concerns about suppliers meeting “stringent” ethical and sustainable standards, new research from Barclays reveals. The latest report from Barclays Corporate Banking, ‘Reshaping retail: how ethics and sustainability are changing retail’s ecosystem’, found that the pandemic and an increasing…
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Dec- 2021 -20 DecemberNews
Amazon partners with Barclays to launch ‘buy now, pay later’ service
Amazon has announced its partnership with Barclays to enable UK customers to have access to a new, flexible payment method. It revealed customers will have “greater flexibility” to pay for their purchases, with financing options available on terms between 3 – 48 months. Customers will find their reusable credit account…
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13 DecemberDIY
Dunelm signs £185m credit deal linked to sustainability
Dunelm Group plc has announced the signing of a £185m sustainability-linked unsecured revolving credit facility (“RCF”). It revealed the deal is signed from banks, Barclays Bank PLC, Lloyds Bank Plc, National Westminster Bank PLC, Banco Santander, S.A., London Branch and Credit Industriel et Commercial. The facility has an initial term…
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Nov- 2021 -25 NovemberPeople Moves
Asda unveils new board appointments
Asda has appointed Lord Rose as its new chairman and Dame Alison Carnwath as non-executive director, with both appointments taking effect from 1 December. Rose is currently chairman of Zenith Automotive and the EG Group. Previously, he was CEO and executive chairman of Marks and Spencer, and he has also…
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