Author: Sam Allcock

In a surprising turn of events, Frasers Group has decided against acquiring Mulberry, raising questions about the latter’s corporate governance.Frasers Group owns a 37% stake in Mulberry but criticised its lack of a commercial plan amid market challenges and concerns over governance.The decision follows a rejected takeover bid by Mulberry, which valued the company at £111m, increased from an earlier £83m offer.Majority shareholder Challice, with a 56.4% stake, opposed the sale, highlighting potential distractions from the deal and Mulberry’s future value under new leadership.Mulberry’s board had previously engaged privately with Challice for a £10m emergency subscription, which Frasers Group criticised.Frasers…

Frasers Group has decided to halt its acquisition attempt of Mulberry due to governance issues, with Mulberry’s board rejecting the latest offer.Frasers Group, holding a 37% stake in Mulberry, offered a revised bid of 150p per share, valuing the business at £111 million.Mulberry’s board found the offer “untenable” and plans to focus on strengthening its commercial strategies amidst market challenges.Frasers expresses disappointment but stresses its ongoing support for Mulberry, highlighting concerns over the governance and financial health of the company.Frasers seeks representation on Mulberry’s board despite withdrawing the takeover bid.Frasers Group, a prominent entity in the retail sector, has formally…

Halton Council is preparing to approve a £750,000 plan for the demolition of Kingsway Leisure Centre.The proposal aims to make room for a new residential development, including elderly accommodation.The site is part of a larger redevelopment plan known as the ‘Kingsway Quarter’.A new leisure facility will replace the outdated Kingsway at Moor Lane, opening next spring.Stakeholders express concerns about delaying demolition could lead to antisocial behaviour.Halton Council members are anticipated to authorise a £750,000 allocation for the demolition of the Kingsway Leisure Centre in Widnes. This initiative is designed to facilitate the marketing of the site to developers for conversion…

Phil Hackney, Matalan’s chief supply chain operations officer, shares insights on enhancing supply chain strength.The focus is on integrating automation to replace manual tasks, aiming for operational efficiency and improved job roles.Strategic partnerships are essential, fostering collaborative environments to tackle market volatility.Interdepartmental collaboration underpins the unified objective of solidifying supply chain capabilities.The Drapers Talks podcast episode provides practical advice amidst evolving retail challenges.Phil Hackney, the chief supply chain operations officer at Matalan, highlights the pivotal role automation plays in modernising supply chain processes. By reducing reliance on manual tasks, Matalan is investing in more stimulating and developmental roles, thus promoting…

Represent, a British streetwear brand, is inaugurating its first UK flagship store in Manchester.The Manchester store spans 5,419 sq ft on New Cathedral Street.Represent aims for a £100m turnover by end of 2024, following online success.The brand sees 81.4% average sales growth over three years, marking rapid expansion.Co-founder George Heaton emphasises Manchester as integral to Represent’s identity.Represent, a renowned British streetwear brand, is opening its inaugural UK flagship store in Manchester this weekend, adding a substantial physical presence to its previously online-dominated retail strategy. The store, located on New Cathedral Street, covers a sprawling 5,419 sq ft, marking a significant…

As peak shopping season approaches, fashion retailers are enhancing their last-mile delivery models to meet rising demands and sustainability goals.Fashion retail is gearing up for Black Friday and Cyber Monday, aiming to efficiently manage increased online sales.The focus is on sustainable last-mile solutions, aligning with industry’s commitment to net zero carbon emissions by 2040.Electric cargo bikes are increasingly used by major brands, offering cost-effective and eco-friendly delivery alternatives.Data-driven planning and real-time monitoring are key strategies employed to improve delivery efficiency and customer satisfaction.The fashion industry is entering its busiest period with key shopping events like Black Friday and Cyber Monday…

Pockit, the fintech innovator, has brought esteemed ex-Mastercard CEO Gene Lockhart onto its board to spearhead its strategic expansion. This move underscores Pockit’s ambition to become a key financial services provider for the unbanked demographic. Alongside Lockhart, Malcolm Le May, former CEO of Vanquis Banking Group, joins the board, further bolstering Pockit’s corporate governance.With an eye on expansion, Pockit is enhancing its leadership team to fuel its growth strategy.Gene Lockhart’s appointment highlights Pockit’s commitment to leveraging industry expertise for expansion.The acquisition of Monese marks a significant milestone in Pockit’s growth journey, broadening its user base.Pockit’s focus on addressing the needs…

M&S CEO Stuart Machin criticises government’s proposed tax increases.Machin labels the potential tax hikes as ‘the easy way out’ for public finances.Concerns raised over the impact on economic recovery and cost of living.Calls for government to adhere to growth-friendly policies from Labour’s manifesto.Machin echoes concerns of other industry leaders about business rate reforms.In a pointed critique, Stuart Machin, CEO of M&S, has voiced strong opposition to potential increases in national insurance for employers under consideration by Chancellor Rachel Reeves. He describes such measures as the government opting for ‘the easy way out,’ suggesting they offer only a short-term fix for…

Chancellor Rachel Reeves is contemplating the introduction of an ‘Amazon tax’.The tax aims to address the disparity between online and high street retailers.The proposal includes higher business rates for online giants like Amazon.More than 70 retail CEOs support a reduction in business rates for physical stores.Labour’s manifesto seeks to replace the current business rates system.Chancellor Rachel Reeves is reportedly exploring the idea of implementing an ‘Amazon tax’ as she seeks to create a more balanced competitive environment between online retailers and traditional high street businesses. The proposed tax would elevate the business rates imposed on online giants such as Amazon.…

A recent outbreak of E. coli linked to McDonald’s Quarter Pounders has resulted in one death and several hospitalisations across ten states. The CDC has issued a food safety alert in response.The alert, centred on potential contamination in specific ingredients, highlights the pressing need for rigorous food safety protocols. The incident raises critical questions about supply chain transparency.The United States Centers for Disease Control and Prevention (CDC) has raised alarm with a recent food safety alert concerning a multistate outbreak of E. coli. Reportedly, at least one person has died and several others have been hospitalised due to the outbreak…