Last week’s Brexit deal and the pulling of Saturday’s Parliamentary vote have left the UK retail sector back where it has been for the last three+ years, facing an uncertain future as consumers shun unnecessary spending.
Buying House of Fraser and ultimately loss-making stakes in firms like Debenhams and MySale may have been a chastening experience for Sports Direct boss Mike Ashley, but it hasn't stopped him from looking for more buys.
Bidding for Jack Wills is getting under way with reports saying six interested parties are in the race. They’re said to include the UK’s two most acquisitive retail tycoons, Mike Ashley and Philip Day.
Philip Day may have bought control of Bonmarché but his attempt to buy the rest of the firm and take it private could be in jeopardy with the board saying on Friday that his 11.445p per share offer isn’t enough.
Billionaire Philip Day is now in control of struggling Bonmarché after buying a 52% stake in the distressed retailer. The Peacocks and Jaeger owner will launch a bid for the remaining 48%, along with a business review.
Budget fashion retailer Bonmarché issued a trading update on Friday and while its previous downbeat update had only been released last month, at least this one was a slightly - very slightly - more cheerful read.
Another day, another profit warning. This time it was budget fashion retailer Bonmarché Holdings serving up bad news with the firm saying its Black Friday trading figures were “extremely poor, particularly in stores”.