Robert Dyas may be spared from falling into
administration if a management buyout can be agreed. Lenders
are backing the management team of the ironmonger turned home
and garden retailer in a deal that will save the business and
secure some 1,250 jobs. According to the Guardian bankers and the private equity
owners of Robert Dyas have been involved in a standoff over the
terms of refinancing the business since September.
German postal operator Deutsche Post joined Dutch logistics
group TNT and private equity firm CVC as a potential bidder
considering owning a stake in Royal Mail reports the FT.
The Times profiles Michael Welch, the
founder of tyre etailer BlackCircles.com.