Latest finance news – Page 585
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News
Half of stores and staff under threat at Ethel Austin
The administrator to value fashion retailer Ethel Austin has earmarked half of its 270 stores for closure.
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NewsScottish retailers ‘hindered by business rates policy’
Retailers in Scotland will be harmed by the Scottish Government’s failure to introduce business rates transitional arrangements, according to the Scottish Retail Consortium.
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NewsSports Direct retail sales climb 9.4%
Sports Direct has reported retail sales increased 9.4% in the 13 weeks to January 24 to £326m.
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NewsABI may challenge Marc Bolland’s M&S pay package
Incoming M&S chief executive Marc Bolland is facing objections from the Association of British Insurers over his £14.8m pay package.
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NewsNo new developments in pipeline for British Land
The UK’s second-biggest landlord British Land said it has no imminent plans to begin any new property developments as it revealed strong figures for its third quarter.
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NewsHalfords considers HobbyCraft bid
Halfords is mulling a bid for the arts and crafts retailer HobbyCraft, according to reports.
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NewsSales growth slows to 15-year low in January as snow hits trade
Bad weather brought sales growth on the high street to a 15-year low in January down 0.7% on a like-for-like basis.
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NewsEthel Austin in administration
UPDATED: Ethel Austin, which was bought out of administration in 2008 by former MK One boss Elaine McPherson, hit the buffers today after being unable to gain banking facilities, with a poor January’s trading sealing its fate.
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NewsOcado appoints advisers ahead of float
Online food retailer Ocado has appointed advisors for ahead of a float which could come as early as May, according to reports.
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NewsThe Book People agrees £15m asset-backed loan deal
Direct bookseller The Book People has secured a £15m asset-based loan facility from specialist lender Burdale to support current and future working capital requirements.
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NewsBlacks Leisure to raise £20.3m for recovery drive
Outdoors specialist Blacks Leisure has unveiled proposals to raise £20.3m through a share placing and open offer.
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NewsDebenhams’ Rob Templeman linked to bid for DFS
Debenhams chief executive Rob Templeman is said to be considering a tie-up with private equity firm Cinven to mount a £500m bid for furniture group DFS.
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NewsGunnar Sigurdsson defends Baugur
Former Baugur chief executive Gunnar Sigurdsson has defended the Icelandic investor’s strategy one year on from the group’s spectacular collapse.
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NewsBurst of retail activity sends shares soaring
Retail sector excitement including boardroom musical chairs and details of the first IPO in years added some excitement to stores’ share prices, which outperformed the market.
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NewsCity backs ‘inspired’ choice for Morrisons chief exec role
The City has welcomed the appointment of Dalton Philips as chief executive of Morrisons, and many analysts expect the grocer to adopt a more aggressive growth plan.
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NewsSnow dampens Carpetright’s third quarter
Carpetright’s group sales rose 7% in the 13 weeks to January 30, but the UK performance was weaker than expected because of the snow.
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NewsCity still cautious about ‘badly bruised’ JJB Sports
JJB Sports’ latest trading update did little to cheer the City despite some signs of improvement.
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News
Findel debt reduction plan on track
Home shopping group Findel said its debt reduction plan is on track and pledged to restore sales growth to key operations as it updated on the 39 weeks to January 1.
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NewsCity backs Mothercare’s Boots tie-up
Mothercare and Boots have forged a strategic tie-up to create a clothing and accessories range.
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NewsPoor January sales drag down retailers
General retailers were hit in the wake of poor January sales data from the British Retail Consortium and wider market turbulence at the end of last week.