Pets at Home may float business
Pets at Home has appointed JP Morgan Cazenove to advise it on potential floatation in 2010 that could see the chain valued at £700m.
From The Telegraph
Focus chief in £900,00 payout
It has emerged that Bill Grimsey, the chief executive of Focus DIY received total pay of nearly £900,000 last year as the retailer was fighting for survival. In August the it completed a company voluntary arrangement that saved the retailer from administration.
Asda chief will not go to M&S
Asda chief executive Andy Bond has ruled himself out of the running to succeed Sir Stuart Rose at Marks and Spencer. Bond also revealed three customer-focussed initiatives Asda is launching.
From The Independent
Tesco takes fashion online
Tesco has launched an assault on online clothing in an attempt to take on online fashion retailers such as Asos.com. Tesco’s full clothing range will be available online.
Wine Cellar goes into administration
Wine Cellar, the operator of off-licence and convenience store brands such as Booze Buster, has gone into administration. The majority of its stores are to be sold to a drinks distributor through a “pre-pack” agreement.
British fashion sees mixed response abroad
British fashion retailers are having mixed fortunes on foreign shores. Aurora, which operates Karen Millen and Oasis has reported “spectacular” trading in France while French Connection has announced it is to close all 21 stores in Japan to stem its losses.
Competition Commission advises supermarket planning test
The Competition Commission has recommended the government introduce a test for planning permission decisions that would seek to curtail the dominance of any one supermarket in towns.
From The Financial Times
Long Tall Sally moves across Atlantic
British retailer Long Tall Sally is to acquire rival brand Tall Girls Canada retail operations and US online operations for an undisclosed sum.
Matalan up for potential sale
Matalan could be put up for sale next year with a £1.5bn price tag. The group left the stock exchange but in June it released its latest financial figures which revealed solid profits, a sharp rise in sales and a steep reduction in borrowings to £247.4m.
Blood on the high street this Christmas
Restructuring firm Begbies Traynor predicts up to 15 high street retailers could go bust this Christmas.
Philip Morris to sue Irish Government over tobacco display ban
Tobacco giant Philip Morris is to launch legal action against the Irish Government over its ban on the display of cigarettes in shops. The group may also sue the UK if the government goes ahead with a plan to introduce a similar clampdown.
From The Sunday Times
Tesco to ramp up electricals
Tesco intends to ramp up sales of plasma screen televisions and laptops in an attempt to overtake Comet in sales of electrical goods this Christmas.
Littlewoods owner to reveal losses
Shop Direct Group is set to file accounts at Companies House that will reveal the £1.7bn home shopping giant made losses of £114m in the year to April.
From The Mail on Sunday