Retail

The Canadian businessman that brought HMV from the brink to oblivion is now a possible last-minute buyer of collapsed chain Wilko. Doug Putman has begun talks with Wilko administrators at PwC to acquire around half of Wilko’s 400…

In an effort to stem the sales decline, this upmarket retailer turned to a British staple for lunch. What does your meal choice say about you You'd be surprised at how many people take this question seriously. There are many people on…

Marks and Spencer will re-enter FTSE 100 in the near future after upgrading its annual profit forecast thanks to robust sales. Shares of the UK retailer rose more than 7 percent. The company reported on Tuesday that the like-for-like…

Wilko buyers will have to put up to £70m into the struggling discount chain in order to save it this weekend. Wilko was forced to submit a notice last week of its intention to appoint an administrator to keep creditors away, causing a…

The UK discount retailer Wilko is in danger of bankruptcy unless it can find a last minute buyer or investor due to "increasing cash pressures". The chain, with 400 stores and 12,000 employees, announced on Thursday that they had filed…

According to sources familiar with the situation, the private equity owners of German sandal manufacturer Birkenstock are considering a public offering that could happen as early as September. The people said that if L Catterton goes…

Heineken's annual profit forecast has been cut after beer drinkers balked over higher prices. The second largest brewer in the world said that its sales volume fell by 5.4 percent in the first quarter, and then worsened to 7.6 percent in…

Last year, the cosmetics retailer Lush gave its managers bonuses worth £5m while receiving £5.1m from government assistance and reporting a 90% decline in profits. The bonuses were added to the salaries of six employees at Lush Cosmetics…

Mike Ashley and his family, the owners of Sports Direct and House of Fraser, are looking for shopping centers that they can purchase and then fill with their brands. They bet on brick-and-mortar's long term appeal. Michael Murray,…

Saudi Arabia is a private financier of the £4bn Selfridges takeover, as part a spree to boost its international standing. Sources in City revealed that the £500bn Public Investment Fund of the Kingdom, which is the sovereign wealth…

Online grocery store says joint venture is not where they wanted it to go Ocado’s chief executive admitted that its tie-up to Marks & Spencer was a disappointment thus far. There are signs of tensions among the grocers.…

Hargreaves Lansdown's chair is about to leave the position after serving in it for more than five year. This comes following criticism by the co-founder of the company and its largest shareholder regarding rising costs and falling share…

Iceland, a frozen food chain, has predicted that it will make the highest profit in a decade in this year. This admission will increase scrutiny on whether supermarkets profiteer in a crisis of cost-of-living. Iceland's financial…

Currys' boss has said that the company does not plan to give up its struggling Nordics division, even though the retailer went into the red after cutting its final dividend. The British retailer has had a difficult year. It has issued…

Daniel Kretinsky and Xavier Niel to face off over the grocery empire Casino A mysterious investor, nicknamed "the Czech sphinx", is set to face off with a French billionaire turned spy in the battle for control of one the…

Yesterday, Associated British Foods rebuffed claims that the grocery industry may profit from high inflation through artificially raising prices. Eoin Tong, finance director of the Food and Retail Group, stated: "The UK retail landscape…

Primark's owner has increased its profit forecast for the year, despite the squeeze on household budgets. Sales at the discount retailer were boosted by higher prices and a strong demand for summer clothing despite the squeeze.…

The partnership that owns John Lewis and Waitrose wrote down the value its head office by £15.6million, the latest indication of the impact the work-from home revolution and rising interest rates have on commercial property values.…