Latest finance news – Page 627
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Dunelm stands by expansion plan after reassuring first half
Value homewares group Dunelm is ploughing ahead with expansion plans after posting robust first-half trading figures.
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Interest rate cut to 0.5%
The Bank of England has cut the interest rate to a record low of 0.5 per cent.
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Risk Capital raises £75m to take advantage of credit crunch opportunities
Risk Capital Partners, the private equity business co-founded by Luke Johnson, has raised a 75m fund and aims to cash in on opportunities thrown up by the credit crunch.
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Diamonds and Pearls falls into administration
Jewellery chain Diamonds and Pearls has fallen into administration, putting up to 300 jobs at risk.
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Mosaic enters pre-pack administration
Mosaic Fashions has been put into pre-pack administration, with most of the group being sold immediately to Icelandic bank Kaupthing and Mosaic’s management.
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Mosaic set for pre-pack administration on Monday
Mosaic Fashions is due to enter a pre-pack administration process on Monday.
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Tax ruling goes against DSGi
Electricals group DSGi, owner of the Currys and PC World chains, has had a tax ruling made against it.
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Elvi put into administration
Womenswear chain Elvi has been put into administration and confirmed redundancies after the plus-size fashion specialist was hit by financial difficulties.
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Retail administrations drive high street voids as high as 15%
Average retail voids have reached 11.2 per cent and are as high as 15 per cent in the worst hit areas, according to a report by property agent Cushman & Wakefield.
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EBTM future uncertain as administration looms for subsidiaries
EBTM, the e-tailer of music inspired fashion, has applied to appoint administrators to its subsidiaries after failing to raise funding for the businesses.
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Sales fall at John Lewis but show week-on-week improvement
Sales at John Lewis department stores fell 1.5 per cent in the week to February 21, while turnover at grocery stablemate Waitrose dropped 1 per cent.
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Consumer confidence improves slightly in February
Consumer confidence improved marginally in February but remains extremely weak, GfK NOP's Consumer Confidence Index has found.
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Kingfisher expected to ride out downturn
DIY giant Kingfisher is expected to emerge stronger from the downturn, but weakening performances in some international markets have prompted City caution about short-term prospects.
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Sentiment swings in favour of retail despite general malaise
The market was down last week as arguments continued to rage about the health of the economy and whether the right action is being taken to steer the world out of recession. However, once again the impact on store stocks was limited versus the All Share Index.
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Primark's value stance keeps sales on course in first half
Value fashion retailer Primark’s keen prices helped it defy the economic gloom with a 5 per cent rise in like-for-like sales in the six months to February 28.
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Retailer anger mounts over rate rise
Top retailers have renewed their attack on the proposed 5 per cent increase in business rates scheduled for introduction in April.
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NewsBlooming Marvellous bought out of administration
A group of investors including Ethel Austin owner Elaine McPherson has bought Blooming Marvelous from administrators MCR.
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NewsTop retailers lobby Government to reverse rate rise
Top retailers are to lobby Local Government Minister John Healey to reduce the rise in business rates planned for April.
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Retail sales up 0.7 per cent in January
Retail sales volume rose 0.7 per cent in January and advanced 1.5 per cent on a three-month basis, the Office for National Statistics reported.
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Banks compete to sell former Baugur stake in Iceland
Icelandic bank Landsbanki is understood to have held a beauty parade of investment banks vying to run the sale of a stake in frozen food retailer Iceland.