Icelandic investment firm Baugur has filed for
moratorium-similar to falling into administration in the UK–in
its home country, according to Forbes. Baugur’s UK holdings include
House of Fraser, Debenhams, and Mosaic, the
parent company of numerous fashion retailers including Karen
Millen, Principles, Oasis, and Coast. According to
The Telegraph, Topshop and
Bhs owner Sir Philip Green and private equity firm
Alchemy “are understood be interested in buying various
chains from the stricken firm”.
For the final 10 weeks of 2008, sales at bedding and apparel
cataloguer/retailer The White Company were up 14 per cent
from the previous year, reports the Financial Times.
Two employees of Murder One, which specialises in
selling books about crime, have acquired the online and catalogue
portion of the business from the owners. The London store, which
closed last week, was not part of the deal, reports The Bookseller.
Furniture etailer Mydeco.com has entered a comarketing
partnership with US etailer Furniture.com in which the
former will direct its US visitors to Furniture.com, while the
latter will direct its British visitors to Mydeco.com via link
exchanges, banners, and other promotional tools.
Multi title mailer Otto Group “plans to cut
almost 5 per cent of its 7,800 staff at warehouse logistics
operations in Germany and neighbouring countries to cut
costs,” reports Reuters.
The Times talks to Mark Constantine, the
cofounder of eco-friendly skincare cataloguer/retailer
The Bank of England is likely to cut the key interest rate by
another half-point today, according to the Financial Times, “setting a new low
for official interest rates in the Bank’s 315-year