Latest finance news – Page 630
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Homebase in consultation with 300 store staff
Homebase is in consultation with up to 300 of its staff as the struggling DIY retailer seeks to realign its store leadership structure in the difficult trading environment.
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Vulture funds circle UK retailers
UK retail is among the sectors likely to be most actively targeted this year by so-called vulture funds that invest in distressed companies.
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Pre-packs to be policed more actively, regulator warns
Pre-pack administrations, the controversial insolvency process that has been deployed by several troubled retailers, will be more closely scrutinised by regulators in future.
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Gamestation consults staff ahead of central office merger
Game has begun a consultation process with 80 of its Gamestation staff at its head office in York as it realigns its management across the group.
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Barratts and Priceless Shoes go into administration
Shoe retailer Stylo's Barratts and Priceless Shoes have gone into administration.
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WHSmith maintains margins in challenging trading conditions
WHSmith's like-for-like sales fell 5 per cent in the 20 weeks to January 17 but it has continued to maintain strong gross margins across the business.
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Stylo's future uncertain as it suspends shares
Shares in shoe retailer Stylo have been suspended as it explores options for the future of the business.
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Sofa Workshop sinks into administration
Sofa Workshop has plunged into administration, after last-ditch attempts to save the business failed.
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UK in recession as ONS reports December retail sales value fall
The UK plunged into recession for the first time since the early 1990s, official figures confirmed this morning.
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Insurance rescue plan falls short, claims BRC
Government plans to shore up businesses hit by the withdrawal of credit insurance cover should go further, say retailers.
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Sainsbury’s head office jobs to go in shake-up
Sainsbury’s has restructured its head office central support teams in a move that could lead to up to 300 jobs being axed.
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Retail stocks rally, but analysts warn it's too soon for optimism
Sighs of relief that retailers’ Christmas performance was no worse than feared have helped store stocks rally in the new year, but some analysts fear optimism may be premature.
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Overseas growth expansion to drive N Brown growth
Home shopping group N Brown has pushed the button on international expansion and hopes to generate 10 per cent of sales from overseas.
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Sainsbury’s could suffer as price wars hit margins, analyst warns
Aggressive grocery promotions threaten food retailers’ margins, broker Blue Oar warned after conducting a price survey.
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Alchemy's Jon Moulton warns of defaults
One third of companies controlled by UK mid-market private equity groups may default on their debts, a leading private equity chief has warned.
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540 jobs under threat as Burberry cuts costs
Burberry is to cut up to 540 jobs, the fashion retailer said as it revealed like-for-like store sales were down 3 per cent in the last three months of 2008.
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JJB Sports loan deferment costs £8.3m
Struggling sportswear chain JJB Sports has confirmed that its agreement with its banks to defer loan payments has cost 8.3m.
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Woolworths Group applies for administration
The board of Woolworths Group has applied to go in to administration, following the collapse of its retail arm and entertainment division EUK last year.
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Empire Direct goes in to administration
Empire Direct, the UK’s largest independent electricals retailer, has gone in to administration.
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Matalan outperforms at Christmas
Discount retailer Matalan has bucked the gloom to post a 5.9 per cent like-for-like increase in sales over Christmas.