Retail news round-up on August 11, 2014: Bidders line up for Internacionale name sale, Landsdowne Partners acquire Achica stake and planning permission to be scrapped for click-and-collect points.
Internationale sale garners ‘surprising’ volume interest
Failed fashion retailer Internationale brand name sale has courted a ‘surprising’ amount of interest, resulting in the deadline for bids to be extended until August 13. Metis Partners is managing the sale of IP assets relating to the failed retail brand, including the ‘Internacionale’ brand, registered trademarks, customer database and branded domain names. Metis Stephen Robertson told the Scotsman that it had received high levels of interest.
Lansdowne Partners takes stake in online luxury retailer Achica
Hedge fund Lansdowne Partners has acquired an equity stake in online luxury homewares retailer Achica, the Telegraph reported. Achica is looking to possibly list on either the main market of the London Stock Exchange or its junior Aim market at some point in the future. Although sources indicated that an IPO is some way off, it is one of a number of possible exit routes for the company, whose early investors include technology-focused private equity firm Balderton. The firm sells a range of furniture and other homewares via ‘flash sales’.
Planning permission to be withdrawn for click-and-collect points on UK high street
High Streets Minister Penny Mordaunt has said that the current policy forcing UK highs street retailers to seek planning permission for click-and-collect facilities from their local authority are to be scrapped, the Telegraph reported. Stores will be able to build covered collection points without prior approval. The proposals would also allow stores to deploy new loading bay doors and ramps without first seeking planning permission in a further bid to reduce bureaucracy for high street chains.