Philip Day
This coverage examines Philip Dayโs influence in the UK retail sector, spotlighting his leadership roles across brands like Edinburgh Woollen Mill. Reporting delves into his acquisitions, turnaround efforts, financial strategies, and impact on retail operations. Designed for executives, investors, and retail professionals tracking senior leadership and strategic change in heritage and value retail.
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Jun- 2019 -7 JuneHigh Street
Arcadia amends CVA agreement to appease landlords
Retail company Arcadia has amended the rental reductions for the seven company voluntary agreement (CVA), which are needed for the company to restructure. The original CVAs requested between 35-70% rental reductions in 194 of Arcadiaโs 556 locations in the UK and Ireland. However, after failing to reach agreements with certain…
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6 JuneHigh Street
Arcadia delays creditors’ meeting
Retail company Arcadia has delayed its planned creditors meetings to vote on the company voluntary arrangement (CVA) with the revised meeting to take place on 12 June. The CVA is said to be vital to Arcadiaโs restructuring and approval would allow the company to shut at least 23 stores in…
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5 JuneHigh Street
Philip Green reaches agreement with pensions regulator
Arcadia owner Philip Green has reached an agreement with The Pensions Regulator in order to aid the restructure of the company. The company has agreed to provide security for the schemes to the value of ยฃ210m which includes an additional ยฃ25m agreed with regulator. Greenโs wife and Arcadia shareholder Christina…
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3 JuneHigh Street
Philip Green charged with assault in the US
Arcadia owner Philip Green has been charged with four counts of misdemeanour assault in the US. The alleged incidents, which Green strenuously denies, are said to have occurred at the Canyon Ranch resort in Tucson, in 2016 and 2018. Each count carries a potential sentence of up to 30 days…
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May- 2019 -17 MayComment
Brands vs the people: the rise of independent online retailers
After the hard knock the UKโs retail sector took following the 2008 financial crash, things are finally starting to look brighter. Consumers are driving this up-turn with their clicks; with the majority of Gen Z and Millennials now choosing to do most of their shopping online. This year, more than…
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8 MayClothing & Shoes
Bonmarche rejects Philip Day takeover bid
The directors of fashion chain Bonmarche have asked its shareholders to โunanimouslyโ reject a takeover bid by Spectre Holdings – an entity owned by retail entrepreneur Philip Day – as they feel the offer โmaterially undervaluesโ the retailer and its prospects. On 2 April, Spectre Holdings announced it had unconditionally…
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Apr- 2019 -12 AprilClothing & Shoes
Bonmarche: Philip Day offer ‘undervalues’ business
Womenswear retailer Bonmarche has said Philip Dayโs ยฃ5.7m acquisition of the company โmaterially undervaluesโ the business and its future prospects. Spectre Holdings, an entity wholly owned by Day, announced the acquisition of more than half of the retailerโs shares on 2 April. He made an offer of 11.445p per share…
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2 AprilClothing & Shoes
Bonmarche stores and jobs at risk after Philip Day acquisition
Bonmarche stores and jobs have been put at risk after Edinburgh Woolen Mill owner Philip Day acquired the clothing retailer for ยฃ5.7m. Day told the BBC that if his deal was successful, it would see a โstore-by-store profitability assessmentโ in order to close under-performing stores unless it could implement a…
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1 AprilEconomy
Shops, pubs and restaurants to get ยฃ500m tax reprieve
Small firms on Englandโs embattled high streets are set to share in half a billion pounds worth of tax cuts as business rates bills are slashed, real estate adviser Altus Group has said. The government announced a business rates discount scheme for small sized high street properties in England which…
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Feb- 2019 -18 FebruaryDepartment Stores
Philip Day eyes M&S and House of Fraser stores
Retail entrepreneur and Edinburgh Wooden Mill boss Philip Day is reportedly in talks to acquire a small number of Marks and Spencer and House of Fraser stores that are set to close. According to the Sunday Telegraph, Day is aiming to turn the stores into branches of his Days department…
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