Wedding-supplies business Confetti, which was
placed into administration by the Hut Group in
August, has been acquired by north-west businessman George Buchan
for an undisclosed sum. In a statement, Buchan, who has a
background in IT services, said he plans to invest in Confetti’s
infrastructure as well as launch new products and redesign
elements of the website. The business will reopen the site within
two weeks’ and will now trade purely online, its stores having
been closed down whilst in administration. Thirty-five jobs have
been saved.
Confetti, which had been operating out of its former owner
Findel’s offices whilst in administration, is in the process of
moving to new premises.
Ironmongery products cataloguer
IronmongeryDirect reports that turnover in the
first half of the year was up 30 percent to £5.7 million.
Operating profits are up 63 percent to £261,000 compared
with the same period of 2009. The company says it is on track to
reach turnover of £50 million by 2015.
The Telegraph reports that the Communication
Workers Union is targeting MPs in marginal constituencies
“in a bid to persuade them to oppose” the
privatisation of Royal Mail. The article says that the union has
already allocated £100,000 to fight off the government’s
plans.
Operating profit at department-store chain John
Lewis was up 76.8 percent to £35.9 million in the
first half of the fiscal year. Gross sales rose 14.5 percent to
£1.4 billion, with sales at johnlewis.com up 36.1 percent.
Overall sales at the group, which also operates
Waitrose, were £3.8 billion, up 12.4
percent on the same period last year.
Halfords financial director Nick Wharton is
leaving the automotive accessories retailer to join homewares
chain Dunelm Group as chief executive on 1st
December. Dunelm’s current chief executive, Will Adderley, is
stepping down from the role to take up the position of executive
deputy chairman from February 2011.
Web sales now represent 10 percent of total sales at France-based
electricals group Kesa, which operates
Comet in the UK and Darty in
France amongst others. Revenue at Comet increased by 6.3 percent
in local currency and by 4.3 per cent on a like-for-like basis in
the first quarter to 31st July 2010.
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