All City & finance articles – Page 221
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OpinionOpinion: A CVA won’t save Toys R Us – it must save itself
Tomorrow, Toys R Us will plead with its creditors to approve a corporate voluntary arrangement.
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NewsCreditors abandon Steinhoff as crisis deepens
Steinhoff International— the parent company of Poundland, Harvey’s and Bensons for Beds in the UK — has started to lose credit lines from lenders as it grapples with an accounting scandal.
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NewsSteinhoff-owned Bensons and Harvey's credit insurance cut
Bensons for Beds and Harvey’s credit cover has been cut in the wake of parent company Steinhoff’s accounting scandal, Retail Week can reveal.
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NewsIkea faces European Commission tax investigation
The European Commission has launched an “in-depth investigation” into furniture giant Ikea’s tax affairs.
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NewsPoundland seeks to reassure staff as Steinhoff reels
Poundland has sent a statement to its employees insisting that despite its credit cover being downgraded it expects “no impact on the business in terms of supply”.
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NewsUpdated: Toys R Us CVA could be blocked by pension fund
The Pension Protection Fund (PPF) is demanding a £9m payment into Toys R Us’ UK pension scheme to win its backing for its proposed restructure.
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AnalysisFive things we learnt: Dixons Carphone’s profit slump
Dixons Carphone’s mobile phones business took a hit in its first half, culminating in group pre-tax profits plunging 70%.
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NewsSteinhoff chairman Wiese quits amid accounting scandal
Steinhoff chairman Christo Wiese has stepped down from the role in the wake of the group’s accounting scandal.
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NewsSports Direct profits plunge exacerbated by UK sales dip
Sports Direct has posted a drop in interim profits despite what boss Mike Ashley describes as a “spectacular trading performance” across its flagship stores.
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NewsSports Direct investors block Ashley’s brother’s £11m
Sports Direct’s investors have blocked a proposed £11m payout to the brother of majority shareholder and founder Mike Ashley.
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NewsHouseholds squeezed as inflation hits six-year high
The squeeze on household income intensified in November, when inflation hit a six-year high.
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NewsDixons Carphone profits slashed despite sales rise
Dixons Carphone has reported plummeting profits despite sales inching up in its half-year.
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NewsWestfield snapped up by Unibail-Rodamco for $25bn
French giant Unibail-Rodamco has agreed to buy Westfield for $24.7bn, marking the biggest takeover of an Australian company on record.
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NewsJoules sales jump as expansion continues apace
Joules has unveiled a near 20% sales jump in its first half as the retailer continues to expand across all its markets.
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NewsCarpetright warns on profits as tough market bites
Carpetright has warned that full-year profits will come towards the bottom end of market expectations as tough trading conditions continued.
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OpinionOpinion: A cracker for grocers, turkey for the rest?
’Tis the season to be jolly, but it might only be the grocery retailers bringing good tidings from the industry this Christmas.
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NewsHouse of Fraser and New Look hit by credit downgrade
House of Fraser and New Look have had their credit ratings downgraded by investor agency Moody’s following erratic trading.
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NewsBrightHouse close to £220m restructuring deal
BrightHouse is poised to reveal a £220m financial restructuring through a debt-for-equity swap.
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NewsSteinhoff shares crash 75% after accounting probe
Steinhoff has had around three-quarters of its market value wiped out in just 48 hours after launching a probe into accounting irregularities.
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AnalysisHammerson's Intu deal – pain or gain for retailers?
This year started with one of the biggest corporate surprises in recent memory – Tesco’s £3.7bn acquisition of wholesale giant Booker.