Latest finance news – Page 46
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NewsFormer Wilko owners are being urged to plug pension hole
The former owners of Wilko are facing pressure to fix the collapsed retailer’s £70m pension hole after the parent company said it does not expect to help.
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NewsTopps Tiles has completed acquisition of CTD Tiles out of administration
Topps Tiles has today completed the acquisition of the brand and “certain assets” of CTD Tiles out of administration.
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NewsTed Baker is closing its remaining stores with 500 jobs at risk
The last of the Ted Baker stores in the UK and Ireland are expected to close this week with more than 500 jobs at risk.
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NewsVictorian Plumbing plans to shutter the rival firm it bought only months ago
Victorian Plumbing has told staff at the rival firm it bought just months ago that it’s shuttering the business and putting over 100 jobs at risk, Retail Week can reveal.
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NewsKlarna closes in on lead bank partnership ahead of listing in the US
Buy now, pay later provider Klarna is edging closer to appointing a lead bank ahead of its anticipated IPO in the US.
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NewsRising inflation could lead to a jump in business rates next year, BRC warns
The British Retail Consortium has warned retailers to beware of the threats posed to business rates by rising inflation.
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NewsAvon has filed for bankruptcy as it aims to offload millions in debt and lawsuits
Avon’s parent group, Avon Products, has filed for bankruptcy following mounting debt and lawsuits alleging talcum powder in its products causes cancer.
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NewsInflation has risen for the first time since December but food inflation remains unchanged
The rate of UK inflation saw a rise above its target 2% in July, according to the latest data from the Office for National Statistics (ONS).
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NewsPandora has upped its guidance in its ambitious bid to become a ‘full jewellery house’
Pandora has upped its full-year growth outlook as sales at the jewellery retailer rose in its ambitious bid to become a “full jewellery house”.
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NewsSainsbury’s boss urges government to slash business rates to save stores and jobs
Sainsbury’s boss Simon Roberts has urged the government to slash business rates, warning that a failure to act could lead to over 17,000 shop closures over the next decade.
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NewsFormer Wilko owner does not expect to help fix pension hole
The former owner of Wilko has said it does not expect to help fix the estimated £70.2m pension hole following the retailer’s collapse last year.
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NewsCarpetright sister business The Floor Room has collapsed into administration
Carpetright’s sister brand, which trades out of John Lewis stores, has collapsed into administration with the loss of 200 jobs.
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NewsAsda chair says he is ‘embarrassed’ by performance as he urges co-owner to step back
Asda chair Lord Stuart Rose has said he is “embarrassed” by the supermarket giant’s market share retreat and called on co-owner Mohsin Issa to take a step back from the day-to-day running of the retailer.
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NewsUnder Armour sales have fallen as it undergoes restructuring
Under Armour has reported a fall in sales in the first quarter of 2024 alongside a restructuring plan for the business.
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NewsMountain Warehouse has returned to profit as it eyes Carpetright stores for expansion
Outdoor specialist Mountain Warehouse is looking to potentially take over former Carpetright stores after it reported a return to profit in the full year ending February 29, 2024. tores as it reported a return to profit in the full year ending February 2024.
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NewsAsda owner has blamed the ‘challenging retail environment’ as revenues and like-for-likes slump
Asda owner Mohsin Issa has blamed what he called a “challenging retail environment” for falling revenues and a slump in like-for-like sales at the grocer.
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NewsDeliveroo has praised ‘strong growth’ in grocery after striking new retail partnerships
Deliveroo has enjoyed “strong growth” in grocery sales and expanded non-food retail partnerships with major brands in the UK and United Arab Emirates (UAE).
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NewsMarks Electrical profits have plummeted in ‘challenging but rewarding year’
Marks Electrical profits have slumped even while sales increased in what its CEO described as a “challenging but rewarding year” for the retailer.
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NewsZalando’s sales and profits have soared thanks to the summer of sport
Online fashion giant Zalando has reported a surge in profits and sales during the second quarter and maintained its full-year guidance as the summer of sport paid off.
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NewsSeasalt has reported an ‘excellent’ year helped by its thriving store estate
Cornish fashion retailer Seasalt has reported a record year of profits and sales as its store estate continues to thrive despite “external challenges” within the fashion sphere.