News roundup—12th December 2008

News roundup—12th December 2008

Third-quarter sales at electronic components distributor
Premier Farnell rose 2 per cent, to £209.1 million, and
profit before tax increased 4 per cent, to £17.7 million.
Web sales increased 25 per cent; they now account for 32 per cent
of turnover.

Games, CDs and DVDs retailer Zavvi denies that its
creditors have called in Ernst & Young to help with an emergency
restructuring of the former Virgin Megastores, as was reported in
The Times. Deloitte, the administrator for
Woolworths and its sister company Entertainment
UK (EUK), was reportedly responsible for parachuting in
Ernst & Young. EUK is Zavvi’s largest creditor, as well as a
major reason for the retailer’s current woes: Because EUK is
unable to supply enough stock for Zavvi, Zavvi has had to stop
taking online orders during what should be its busiest season.

Not one but two papers–The Times and The Week–refer to middle-class fashion
cataloguer Boden in describing David Cameron’s Christmas
card, which sports a photo of his family on the front.

Article opening of the week, courtesy of The Independent: “For almost two
centuries, Bethnal Green in east London was the location of one
of Britain’s most celebrated madhouses. At the closing-down
sale at Woolworths in Bethnal Green Road yesterday,
bedlam returned.”


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