The past 12 months have been tumultuous. We saw big businesses like Peacocks, Game and most recently Comet hit the buffers, while successful names were snapped up by bigger fish or private equity houses.
There were plenty of movers and shakers too, with new bosses at the helm of two of the UK’s biggest mail order firms Shop Direct and Freemans Grattan and soon a new chief executive at N Brown Group to succeed Alan White.
We collectively celebrated the Queen’s diamond jubilee and were inspired and motivated by the London Olympics. But for most, the summer will be remembered for being the wettest on record.
Retailers certainly braced themselves for a tough year, but as our roundup of the biggest stories of 2012 shows, it wasn’t all bad.
January
Builders merchant Travis Perkins takes full control of Toolstation after acquiring the remaining 70 per cent of the business it did not own from Mark Goddard-Watts and his family trusts.
Blacks Leisure falls into administration. All its assets, including 302 Millets and Blacks stores, are sold by the administrator to sporting goods retailer JD Sports.
Avery Dennison sells its office products business to 3M, the company behind the Post-it and Scotch Tape brands, for approximately £355 million.
Another eco-friendly brand joins the Spark Etail family. The contact centre and fulfilment firm, which owns Ethical Superstore, Natural Collection and Spirit of Nature, adds ethical fashion label Frank & Faith to its portfolio.
Administrators are called in at loss-making retailer Past Times. The business closes all its stores but continues to trade online. Its website and assets are bought by PT Bidco Ltd, a vehicle owned by private equity firm Epic, for £1.8 million.
The management team of ethical fashion brand Howies buys the business back from VF Corporation.
Royal Bank of Scotland refuses to refinance Peacocks’ £600 million debt, and other talks to rescue the business break down, leading to one of the biggest retail collapses since Woolworths in 2008. Sister company Bonmarche is bought by Sun European Partners for £10 million in a prepack administration deal.
Tobar is acquired out of administration in a management buyout supported by current investor Primary Capital.
The European Commission drafts a controversial update to the EU data protection laws, their first overhaul since implementation in 1995.
Mark Newton-Jones announces his plans to step down as chief executive officer of Shop Direct Group. In June, the company names Alex Baldock as his successor.
Our January 2012 cover story: Success 2012: where’s the growth?
February
Mail order butcher Donald Russell is snapped up by Vestey Foods Group in a deal rumoured to be worth £30 million.
Rowland’s Clothing, a multichannel retailer of apparel, is acquired by a consortium including New World Private Equity and new chairman Stewart Cantley.
SecretSales.com, the UK-based private-sales club, secures an investment of £6.3 million from a syndicate of investors.
TV-shopping specialist Ideal Shopping Direct buys Createtoday, an online platform for creating and customising greeting cards and wall art, from Internet Media Marketing.
Furniture retailer Made.com secures £6 million in series B funding led by Level Equity and joined by PROfounders Capital, a London-based venture capital firm in which Made.com chairman Brent Hoberman is a partner.
Peacocks, which appointed administrators on 19th January, is rescued by Edinburgh Woollen Mill, saving some 6,000 jobs.
On 14th February, The Broadcast House and the CatEx Direct Commerce Association launch The Department Store, a new shopping channel on Sky channel 681. The channel later evolves into the “Optimised as Live” concept.
Luxury-apparel etailer Net-a-Porter is entering the Chinese market with the acquisition of Shouke.com, a Hong Kong-based fashion website. The site will become part of Net-a-Porter’s outlet arm The Outnet. The following month, TV shopping channel and online retailer QVC announces it is entering the Chinese market via a joint venture with Beijing-based China National Radio (CNR). Next also announces plans to break into China.
Our February 2012 cover story: Christmas cheer masks tough trading
March
The Webb Group, which operates Choices UK and Book Club Associates, falls into administration. Fifty-eight employees are let go: 15 redundancies at Webb Group Ltd, 35 at catalogue Webb Ivory (Burton) Ltd, four at Choices UK Group Ltd and four at Book Club Associates Ltd.
Matalan founder John Hargreaves acquires troubled womenswear retailer, Fenn Wright Manson out of administration. The deal includes the John Lewis concession and a number of its 17 shops.
It’s game over for Game as the retailer collapses into administration. Later that month, OpCapita, the investment firm which bought Comet for £2 late last year, buys Game’s assets.
Lands’ End appoints former Shop Direct brand director Sara Prowse as managing director for its UK business.
Private equity firm Terra Firma agrees a £276 million deal to buy the Garden Centre Group, owner of the Wyevale and Blooms brands.
Angus Thirlwell and Peter Harris of Hotel Chocolat receive an
ECMOD Lifetime Achievement Award for their contribution to multichannel retailing.
Our March 2012 cover story: Latest deals span spectrum of the sector
April
Simon Calver, the former boss of Amazon-owned DVD rental company Lovefilm, joins Mothercare as chief executive.
Cosmetics marketer Avon rebuffs a $10 billion takeover bid from fragrance and beauty specialist Coty. Coty withdraws its bid in May.
An investigation into Amazon tax practices in the UK begins after it emerges that Amazon did not pay enough corporation tax on its profits.
Savile Row tailor Gieves & Hawkes is acquired by a subsidiary of China-based luxury menswear retailer Trinity for £32.5 million, plus additional payments of up to £60 million depending on future performance in China.
Mothercare confirms a cost-cutting initiative that will see it close 36 of its Mothercare and 75 of its Early Learning Centre stores over the next three years.
Upscale apparel retailer Jaeger is acquired by private equity vehicle Better Capital. The deal sees Better Capital take a 90 per cent stake in the Jaeger business for £19.5 million.
Luxury apparel manufacturer/retailer Aquascutum hits the buffers; it is then acquired by YGM Trading, the Hong Kong-based company that owns the licence for the Aquascutum brand in Asia, the following month.
Tesco announces plans to invest £1 billion to improve the customer experience for its UK shoppers after posting a 1 per cent dip in UK trading profit to £2.5 billion last year.
Smiths News acquires the parent company of The Consortium for £38 million, plus up to £2 million payable in January 2013 dependent on
performance and a further £4 million payable in Smiths News shares in January 2014.
TV-shopping specialist JML partners with ITV to launch a new retail TV format, dubbed the “chatmercial”.
Flying Brands announces plans to sell all its retail divisions and refocus the business.
Our April 2012 cover story: Government puts an end to LVCR loophole
May
Naked Wines confirms it is investing £5.5 million to set up 22 new winemakers and help grow existing winemakers.
SportPursuit, a members-only flash-sales website specialising in sportswear, closes a series A funding round raising $2.3 million.
Embattled greetings-card chain Clinton Cards is forced into administration by its biggest supplier American Greetings. The US business later acquires the assets of Clinton Cards, including some 400 stores, saving 4,500 jobs.
DLA Piper takes the lead case to recover VAT from HM Revenue & Customs in relation to Royal Mail postal services for businesses.
Shop Direct, which owns Littlewoods and Very, announces plans to close two of its four contact centres due to a shift in consumer behaviour.
Mark Berriman sells PetSupermarket.co.uk to fellow pet supplies etailer MedicAnimal for an undisclosed sum. MedicAnimal later completes a £10 million Series C funding round led by Balderton Capital, alongside Iris Capital and existing angel investors from Europe, the US and Asia.
Wolseley divests its Bathstore business to a newly incorporated company backed by turnaround specialist Endless for £15 million payable over the next five years.
Online marketplace Notonthehighstreet.com secures a £10 million investment in a series D funding round that will enable it to develop its brand both in the UK and overseas.
A court case against seven former directors of Farepak, Sir Clive Thompson, Neil Gillis, Michael Johns, Paul Munn, Stevan Fowler, William Rollason and Nicholas Gilodi-Johnson, begins. It collapses in June. Reaction to the trial concludes Farepak could probably have survived if its bank HBOS had lent it an extra £3 million to £5 million.
Nick Jenkins, the founder of Moonpig.com, takes a 50 per cent stake in apparel cataloguer/retailer Smart Turnout.
UK food wholesaler Booker enters into agreement to buy Metro Group’s UK wholesale business Makro UK for a total of £139.7 million.
At the eleventh hour, the Information Commissioner’s Office publishes new guidelines on the European “cookie law”-less than one day before the law came into effect.
Our May cover story: The way the cookie crumbles
June
The Queen’s diamond jubilee celebrations and a summer full of sporting events drive up demand for goods associated with “Cool Britannia”.
Ideal Shopping Direct acquires online knitting supplies retailer Deramores for an undisclosed sum.
Camera retailer Cecil Jacobs closes down with the loss of 158 jobs.
Following continuous growth over the last 16 years in family ownership, Nick Jubert, managing director of Denny’s Uniforms, leads a management buyout of the business.
Cornwall-based apparel and accessories catalogue Celtic Sheepskin confirms it is launching US, Japanese and European websites in August and will follow up the launches with a US catalogue in September. The expansion follows the recruitment of Monique Louis as managing director in April.
US-based pharmacy giant Walgreens takes a 45 per cent stake in Alliance Boots for $6.7 billion (£4.3 billion) in a deal to create the world’s largest pharmacy business.
Apparel retailer New Look says it will close up to 100 stores as it turns its focus to its online and multichannel offer.
OKA Direct, the home interiors brand owned by prime minister David Cameron’s mother-in-law Lady Annabel Astor, agrees a global licensing deal with LF Products to expand its business into Asia.
Our June cover story: Retailers invest in international business
July
Former Harrods Direct director David Worby starts work as global chief executive officer at My-Wardrobe.com.
Julian Graves, a chain of health food shops, disappears from the high street. It has failed to make a profit in the last four years.
Retail entrepreneur and TV “Dragon” Theo Paphitis acquires hardware company Robert Dyas for an undisclosed sum. Paphitis’s retail empire also includes Ryman, the stationery retail chain, and Boux Avenue lingerie.
Sports Direct takes the majority stake in loss-making Flannels, a retailer of designer clothing.
SuperGroup axes its Cult fascia and rebrands its 20 Cult stores under the Superdry name.
Iceland says it will relaunch its online shopping service in early 2013.
German cataloguer Neckermann files for insolvency after its private-equity owner refuses to provide further financing to fund its turnaround plans. At another German retailer Karstadt, some 2,000 jobs are on the line as the company announces its restructuring. Alan White announces he is stepping down as chief executive of N Brown Group.
Our July cover story: Summer of sport
August
Yorkshire-based VetUK buys its Worcestershire-headquartered rival Nutrecare, an online seller of veterinary and pet supplies, for an undisclosed sum.
Dixons increases its stake in online retailer Pixmania in order to tackle the “significant challenges” it faces.
MedicAnimal is back on the acquisition trail with the takeover of PetMeds.
Big Man’s Shop, a cataloguer of men’s apparel in larger sizes, is sold to Nick Cooper, who operates rival business Big Tall Order.
Yorkshire-based menswear cataloguer Joseph Turner launches its first-ever womenswear catalogue.
JJB Sports fails to secure the funds needed to overhaul its stores. It falls into administration and is subsequently bought by Sports Direct.
It’s estimated that much of the potential benefits and sales uplift attributed to the Olympics could be offset by higher costs due to retailers having to fund more staff, a greater number of deliveries and, potentially, longer working hours during the period of the Games.
Our August cover story: Direct sellers see the silver lining, but forecast remains cloudy
September
Royal Mail rolls out a scheme allowing items to be delivered to a neighbouring address if no one is at home to receive them.
Gifts cataloguer The Handpicked Collection launches a spin-off website called the Handpicked Foodstore.
Morrisons supermarket confirms it will use Kiddicare’s eCommerce technology platform to provide the foundation for the first online offer, Morrisons Cellar, while orders will be fulfilled from its distribution centre in Peterborough.
Ideal Shopping Direct and High Street TV (HSTV) enter into an exclusive strategic partnership that will see HSTV showcase Ideal’s best-selling range across its multichannel platforms.
British fashion retailer Lipsy signs a franchise agreement with Brand Market India (BMI) to market and distribute Lipsy-branded products in India.
Birchbox, a marketer of subscription-based beauty boxes containing samples of cosmetics and grooming products, makes a push into Europe via the acquisition of France-based JolieBox.
Toy retailer Hamleys is snapped up by French group Ludendo for a rumoured £60 million.
Fashion cataloguer Joe Browns appoints a new managing director to achieve its next stage of growth and further develop the business.
Our September cover story: Cool and collected
October
Prime minister David Cameron delivers the news that the UK is out of recession.
Tattoo supplies business Barber of Sheffield plans to expand its footprint in Europe after the acquisition of France-based Northstar Tattoo Supply.
Freemans Grattan Holdings, the UK arm of Germany-based mail order group Otto, confirms the appointment of John Hinchcliffe as chief executive succeeding Koert Tulleners.
Kate Swann steps down as chief executive of stationer WHSmith after nine years at the helm.
DIY retailer B&Q makes 220 people redundant at its head office.
Abel & Cole is bought by William Jackson Food Group, the owner of Aunt Bessie’s Yorkshire puddings, for an undisclosed sum.
After almost nine years as chief executive, Sally Bailey confirms she is leaving apparel retailer White Stuff.
Jack Wills ditches the Aubin & Wills brand.
Argos announces that it will close up to 75 of its stores over the next five years as part of its drive to reduce costs, increase efficiency and improve profits.
Stamps and collectibles specialist Stanley Gibbons acquires the assets of US-based collectibles business Stampwants.com Inc-trading as bidStart-for $1 million.
Joules Clothing sells its Rampant Sporting division to an unnamed retailer.
Our October cover story: By Subscription only
November
Comet becomes one of the biggest casualties of 2012, putting more than 4,000 people out of work.
Multi title etailer The Hut Group considers offshoring jobs to facilitate its future growth.
Findel confirms rumours that it is in talks to sell its healthcare division NRS.
Footwear retailer Pavers Shoes becomes the first foreign retailer to be allowed to set up wholly owned stores in India.
Frank Keenan becomes the new managing director of Marshalls Seeds. He joins from Play.com where he was category director and succeeds Martin Harvey, who leaves the business after six years at the helm.
PPR sells the sports and leisure activities of Redcats USA, including the Sportman’s Guide and the Golf Warehouse to Northern Tool + Equipment for $215 million.
Key Capital Partners takes a majority stake in furniture retailer Dwell. Managing director Aamir Ahmad steps down from the day-to-day running of the business, handing over the reins to Rebecca Cotterell, formerly chief executive of Adams Childrenswear and British Shoe Corporation.
Multichannel retailer Maplin plans to open 100 stores and create an estimated 900 jobs after securing a £20 million credit facility from Lloyds Bank.
A for-sale goes up on Mobile Fun as the online retailer appoints corporate finance firm Altium Capital to advise on a possible buyout.
Tom Joule, the biggest shareholder of multichannel retailer Joules, holds talks with Rothschild with a view to sell a stake in the business to fund its expansion.
Online apparel retailer ASOS invests in Covetique, which bills itself as an “online destination for buying and selling preowned designer clothing, shoes, handbags and accessories”.
Our November cover story: Retailers still missing out on mobile
December
Jobs are under threat at Avon-owned beauty brand Liz Earle as the company confirms a restructuring. Avon begins its own strategic review in December that will see it axe around 1,500 jobs worldwide.
Arcadia’s boss Sir Philip Green sells a chunk of his retail empire business to US private equity firm Leonard Green & Partners. The deal values the Topshop and Topman group at £2 billion.
Apparel retailer New Look names Anders Kristiansen its new chief executive.
The Carlyle Group adds to its health-food portfolio with an investment in Nature Delivered, the parent company of snacks-by-post business
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