Retail news round-up: Agent Provocateur to head for administration, SecretSales directors exit and Tesco launches products in Pakistan
Fears over Agent Provocateur
Agent Provocateur's prospects of falling into administration appear to have risen following the appointment of restructuring firm AlixPartners as principal adviser on the sale process, Sky News reported.
AlixPartners has replaced Rothschild.
A source said that the company may be sold through a process of pre-pack administration, allowing the buyer to acquire the business without some of its liabilities.
Last week about five bidders including Lion Capital and Alteri are said to have offered not more than £30m.
Sports Direct International is also looking to have been examining a bid.
SecretSales directors leave the company
SecretSales directors have left the company following the sale of the flash sale site to Excalibur Group, Drapers reported.
Chairman Sergio Dias left the business on February 8.
Three of the company’s other directors naming Frederic Halley, Nigel Grierson and Craig Andersonn and the firm’s secretary Michael Cody have also left.
Andrew MacKinnon and Roland Bryan former Directors of Excalibur Group were appointed as directors at SecretSales on the same day.
Tesco launches in Pakistan
Tesco PLC has collaborated with Alpha supermarkets in Pakistan, Daily Times reported.
The announcement of the launch was made by the British High Commissioner Thomas Drew and the Deputy High Commissioner Belinda Lewis, Limestone Ltd Chairman Nadeem Hussain, and CEO Adnan Hamid.
Food and non-food items will be available in three categories Tesco Goodness, Tesco Finest and Tesco Everyday.
Limestone Ltd plans to open flagship stores in Karachi, Lahore and Islamabad and 50 express stores with Tesco products across Pakistan over the next three years.
Waitrose tops consumer satisfaction survey
Waitrose has topped the annual poll by consumer group Which? for the third consecutive year, followed by Marks and Spencer while Iceland’s home delivery service received highest consumer score, The Guardian reported.
The consumer group had questioned more than 7,000 shoppers about their experience of supermarkets in the past six months both in store and online.
Waitrose was the only supermarket to receive five stars for staff availability and helpfulness.
M&S’s “Dine In” offers which include a meal for two and a bottle of wine for £10 was scored highly.
Customers were happy with Iceland’s no substitution policy, convenient delivery slots and friendly drivers.
Ocado took second spot ahead of other online competitors including Morrisons, Tesco, Asda and Sainsbury’s.
Aldi and Lidl (in store only), placed third, were the only supermarkets in the survey to be awarded top marks for value for money.