Up-to-date coverage of the latest events in UK retail.
Sports Direct hits back at Goals Soccer Centres
Sports Direct has hit back at Goals Soccer Centres following a heated AGM last week.
After a failed attempt to oust the football pitch operators’ directors a spokesperson for Sports Direct - which is the largest shareholder in Goals Soccer Centres – branded the non-executive chair Chris Mills as “arrogant” and “belittling”.
Mills had allegedly told a Sports Direct representative to “f**k off” at the meeting, according to City AM.
The verbal attack comes after responding to Sports Direct head of strategic investment, Liam Rowley, who insisted directors took a lie detector test over a £12m accountancy error discovered in March.
Jack Wills set for cash crunch after poor trading
Struggling fashion retailer Jack Wills is heading towards a cash crunch after burning through cash injections from private equity owner Blue Gem.
The fashion chain is said to be burning through £28m worth of investments arranged by the equity owner, a source told The Sunday Times.
Bonmarché shareholder sells stake to Day
One of Bonmarché’s biggest shareholders has sold its stake in the fashion retailer to the owner of Edinburgh Woollen Mill, Philip Day.
Cavendish Asset management sold its 10.8% stake in the retailer to Day for £600,000 according to Drapers.
Former Tesco chair slams Leahy’s ‘arrogant’ management
Lord MacLaurin has criticised former chief executive Terry Leahy’s running of the supermarket chain accusing him of driving the supermarket to the brink of collapse with his “arrogant” and “extravagant” management style.
The former Tesco chair said he regrets hiring Leahy in 1997 and the “whole thing went pair shaped” after his first “four or five years” at the helm, according to The Sunday Times.