All City & finance articles – Page 214
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NewsNew Look CVA approved, 60 stores to close
New Look’s landlords have approved its Company Voluntary Arrangement, paving the way for the retailer to shutter 60 stores.
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NewsScS profits rise but Beast from the East hits orders
ScS’ half-year earnings have risen, although the value furniture retailer’s recent sales were hit by adverse weather conditions, when orders were affected by the snow.
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NewsKingfisher profits decline as B&Q sales drop
Kingfisher’s full-year profits have declined, dragged down by business disruption and a “softening market” in which B&Q sales fell.
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NewsMoss Bros issues full-year profit warning
Moss Bros has issued a profit warning, blaming a reduction in footfall and a consolidation of its supplier base following the weakness in sterling.
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NewsMothercare lenders defer covenant testing
Mothercare’s lenders have agreed to defer covenant testing as it scrambles to secure additional sources of financing.
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NewsCarpetright secures emergency capital as it mulls CVA
Carpetright has secured emergency capital to tide it over as it sets about restructuring the struggling business.
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NewsMothercare drafts in KPMG to advise on refinancing
Mothercare has appointed KPMG to advise on its refinancing as it seeks waivers of some of its financial covenants and attempts to raise more cash.
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NewsHouse of Fraser suitor issues profit warning
A Chinese investor behind a bid for House of Fraser has issued a profit warning, just weeks before a deal is expected to be finalised.
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OpinionConviviality must sober up for its walk of shame
Conviviality is suffering the hangover to end all hangovers as financial chaos threatens to undo years of progress and hopes for further expansion.
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OpinionSir Ian Cheshire: We must count the true cost of pensions
When BHS made the headlines for its pension scheme rather than its collapse, it highlighted the ticking time bomb for the whole of retail.
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NewsDreams' full-year profits jump amid tough market
Dreams has increased profits and sales for the fourth consecutive year, bucking the trend in a “challenging” big-ticket market, Retail Week can reveal.
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NewsMade.com secures £40m investment as sales spike
Made.com has secured £40m of fresh investment to accelerate its European expansion after registering a climb in full-year sales.
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NewsHammerson rejects £5bn takeover approach from Klépierre
Shopping centre landlord Hammerson has rejected a £5bn approach from one of Europe’s largest mall owners, Klépierre.
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NewsPoundstretcher credit insurers reduce cover
Poundstretcher owner Crown Crest Group has had its credit cover cut as insurers continue to tighten terms for high street operators.
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NewsSmiggle readies Oxford Street flagship as sales surge
Smiggle is preparing to open an Oxford Street flagship and has reported a surge in first-half sales outside of its homeland.
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NewsConviviality considers equity fundraising in cash crisis
Conviviality, the embattled drinks retailer and wholesaler, has had “constructive discussions” with lenders and support from stakeholders as it addresses a funding crisis and may launch equity fundraising as it seeks to stabilise.
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NewsTesco shares climb as JP Morgan turns buyer
Tesco’s tie-up with wholesaler Booker has won over big broker JP Morgan, which has become a buyer of the grocer’s stock for the first time in five years.
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NewsClaire’s UK business safe despite US bankruptcy fears
Claire’s Accessories’ UK business does not face looming closure, despite reports that the retailer’s core US business may file for bankruptcy.
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VideoThe Retail Week: Urgent questions for Conviviality
In the wake of a disastrous week for Conviviality, we discuss the key questions facing the business and analyse where it goes from here.
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NewsAgenda: Ocado, Kingfisher, ScS, Ted Baker and Next
Retail Week looks ahead to the next seven days, with updates from Ocado, Kingfisher, ScS, Ted Baker and Next on the agenda.