Alex Theophanous and his wife Alexa Till have sold their
controlling stake in AlexandAlexa.com to Tiger
Global Management. The deal values the childrenswear etailer at
£16 million-about five times the sales, writes the Sunday
Times.
Thorntons has unveiled the conclusions of its strategic review, which will see it close a minimum of 120 stores
over the three years, with a view to close a further 60 stores
during that period. The review also called for the direct side of
the business to become more closely aligned with the stores,
including launching some of Thornton Direct’s best-selling
gifting ideas in-store. As a result of a split in his marketing
and retail responsibilities, Thorntons’ marketing director Peter
Wright will leave the business this week.
Apparel retailer Jane Norman has become the
latest victim on the high street, collapsing into administration
yesterday. The retailer’s banks put the business up for sale
earlier this month, but failed to secure a buyer. “Its
demise takes the number of retail jobs hanging in the balance up
to 5,300, after Habitat and
Homeform were forced to call in administrators
last week,” writes the Telegraph.
TJ Hughes, the department-store chain that
underwent a management buyout backed by turnaround specialist
Endless in
March, has given notice that it intends to appoint an
administrator in the next few days. “If it fails to pull
through,” writes the Independent, “the group will join
furniture chain Habitat and fashion retailer
Jane Norman in going into
administration”.
Stationery giant Staples has made two European
appointments: Amee Chande is named managing director of UK retail
and direct and Andrew Gabriel moves to become director of
technology and services, European retail.
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