Retail news round-up: McColls boss plans to buy Tesco’s One Stop chain; Ikea to move production to the UK; Terra Firma pays Wyevale's debt; and M&S revisits archives for new collection.
McColls boss eyes Tesco’s One Stop chain takeover
McColls boss Jonathan Miller is interested in taking over Tesco’s One Stop chain, The Telegraph reported.
In order to obtain clearance from the UK’s competition regulator for a merger with Booker, Tesco will have to either offload its One Stop brand or its Express shops, industry experts suggest.
Miller is hoping that Booker and Tesco will be forced to make disposals.
Miller said: “Whether it’s One Stop or a number of stores, we would be interested in having a look.
“One Stop is very similar to our own model, so we would be the most logical business to acquire it.”
Ikea reveals plans to move production to the UK amid Brexit
Ikea is planning to make more products in the UK amid Brexit-led changes in market conditions, The Guardian reported.
The retailer currently makes some sofas and mattresses in Britain, but approximately 60% of products are made in Europe.
The Swedish company wants to manufacture and source locally to offset the risks of importing goods.
Ikea UK boss Gillian Drakeford said: “We have a number of sofa suppliers in the UK we work with today and we are looking at what more products could we source in the UK.
“We believe we can double market share here. We’ve been here for 30 years and will be here for the future.”
Terra Firma holds up Wyevale Garden Centres
Terra Firma, the private-equity firm led by Guy Hands, has paid around £25m in buying out debt to support Wyevale Garden Centres, The Times reported.
Wyevale was trying to refinance its loans but one of the banks declined to support a restructuring.
Terra Firma and Wyevale declined to comment.
M&S takes inspiration from its archives for new collection
M&S has taken inspiration from its archives for its new autumn/winter 2017 collection, Daily Mail reported.
M&S style director Belinda Earl said it is focusing on classic styles such as knee-high boots, floral blouses, and flouncy sleeves.
She added: “We’re trying to make it more ageless and create more wearable styles that can be layered with neutral colours and tops or jackets across seasons.”