Author: Scott Dylan

SumUp, a prominent fintech company, has reported a significant increase in its revenues for 2023, while maintaining profitability.The company’s revenue rose to €188 million, a 26% increase compared to the previous year, despite a slowdown in growth rate.Pre-tax profits fell by 29% to €783,000, yet SumUp expanded its merchant base by focusing on new feature additions.SumUp is contemplating a share sale, potentially valuing the company at $9 billion, with Goldman Sachs advising on the process.Reports suggest that SumUp has raised significant funds from credit lenders, enhancing its operational capabilities.SumUp, a leading player in the fintech space, witnessed a substantial 26%…

Following a financial turmoil, TGI Fridays UK has struck a deal rescuing over 2,000 jobs, though 35 restaurants face closure.The rescue deal secured by Breal Capital and Calveton will save 51 TGI Fridays establishments across the UK.Despite saving many jobs, 1,000 positions will be lost due to the closure of several restaurants not included in the agreement.Julie McEwan, TGI Fridays UK CEO, remains hopeful for the brand’s future and aims to support affected employees.The acquisition was driven by pressures in the casual dining sector, aiming to restore stability and growth.More than 2,000 jobs have been rescued thanks to a strategic…

Dash Water expands its sparkling drinks with a new cucumber and mint flavour.The new flavour replaces the existing cucumber drink in Dash’s portfolio.This launch is part of Dash’s commitment to offering healthier soft drink alternatives.The flavour combines popular ingredients in the drinks industry to attract consumers.Dash’s marketing strategy has intensified, including significant campaigns in London.Dash Water has announced the introduction of a new cucumber and mint flavour to its sparkling beverages lineup. This development is set to replace the brand’s existing cucumber-flavoured sparkling water, aiming to bring a refreshing twist to a familiar taste. Jack Scott, co-founder of Dash, expressed…

The Very Group is preparing for a potential sale as it seeks the expertise of major banks to explore strategic options.Barclays, JP Morgan, and Morgan Stanley are being appointed to oversee a strategic review that might lead to a sale.The potential transaction could signify the conclusion of the Barclay family’s ownership of the ecommerce entity.Industry experts suggest a valuation of approximately £2.5bn, a decrease from a prior estimation of £4bn.There is speculation about refinancing possibilities, though a sale appears more probable due to interest in Very’s tech-focused financial services.The Very Group, a prominent name in ecommerce, is reportedly engaging Barclays,…

Applied Nutrition, a Liverpool-based company, is set to go public with a £500 million IPO on the London Stock Exchange this October.Operating in over 80 countries, the company has experienced significant growth over the past year.The IPO will involve selling existing shares, targeting both UK institutional and retail investors.Applied Nutrition has strategically appointed key figures to its board, bolstering preparations for the listing.This move comes amid declining interest in the London Stock Exchange, highlighting its potential significance.Applied Nutrition, a company headquartered in Liverpool, has unveiled plans for an initial public offering (IPO) valued at £500 million, scheduled for this October…

Fiskars UK, despite achieving robust sales at renowned retailers Harrods and Selfridges, reported a pre-tax loss of £1.4 million in 2023.This marks a significant shift from the previous year’s pre-tax profit of £11.5 million.The company’s turnover also experienced a decline, dropping from £33.7 million to £29.5 million.Ongoing inflation and energy costs, coupled with extensive internal restructuring, have been cited as major challenges.Efforts to attract new audiences through strategic marketing collaborations and visitor attraction development are ongoing.Fiskars UK, headquartered in Stoke-on-Trent and the owner of prominent brands such as Waterford, Royal Doulton, and Royal Albert, reported a pre-tax loss of £1.4…

Salford City Council is set to approve a major housing development.The project includes 485 homes and improvements to Clarendon Park.Developers are Lovell Partnerships and SP+.30% of the homes will be affordable, with facilities for over 55’s.The development supports extensive local regeneration plans.Salford City Council is poised to approve an extensive housing project designed by Lovell Partnerships and SP+. This ambitious initiative will introduce 485 new homes and a range of enhancements to the existing Clarendon Park, a move that underscores its commitment to urban regeneration.The site for the proposed development is situated between Churchill Way and Liverpool Street, an area…

Matalan CEO Jo Whitfield departs after achieving significant business milestones in her 18-month tenure.Whitfield’s exit coincides with John Lewis Partnership CEO transitions.Under Whitfield, Matalan advanced its turnaround strategy and strengthened core values.Interim leadership will be led by Chairman Karl-Heinz Holland.The search for a new Matalan CEO is underway.Jo Whitfield, the CEO of Matalan, has stepped down after an impactful 18 months at the helm. During her tenure, Whitfield played a pivotal role in steering the company through vital changes, significantly enhancing its business strategy and operational efficiencies.Coincidentally, the retail sector is witnessing another leadership transition, with John Lewis Partnership announcing…

JLL reports a drastic drop in pre-tax profit for 2023 due to market challenges.The company’s earnings decreased from £60.9m in 2022 to £21.9m in 2023.Turnover also fell from £460m to £426.7m due to economic conditions.Executive comments highlight resilience and anticipation of market recovery.JLL’s global operations continue facing decreased revenues amidst economic instability.The UK branch of the global real estate services firm JLL has experienced a profound reduction in its pre-tax profits, attributed to “increased market uncertainty.” The London-based division announced a decrease in pre-tax profit to £21.9m for 2023, which is a significant drop from last year’s figure of £60.9m.…

Footasylum has secured a significant £35 million funding from HSBC to support its growth and sustainability efforts.The funding includes a unique Sustainability Improvement Loan linked to Footasylum’s ESG performance, offering potential interest rate reductions.Footasylum plans to expand with new flagship stores across the UK, including outlets in Aberdeen, Warrington, and Doncaster.The initiative aims to improve omnichannel experiences, enhance digital engagement, and support the expansion of in-house brands.The funding aligns with Footasylum’s environmental goals, including achieving carbon net-zero emissions for different scopes by 2030 and 2040.Footasylum has obtained a £35 million funding facility from HSBC, aimed at bolstering its expansion and…