Mail order butcher Donald Russell has been
acquired by Vestey Foods Group in a deal
rumoured to be worth £30 million, reports the Telegraph.
The Telegraph reports that sailing brand
Musto is restructuring its debt and has hired an
accounting firm to review its bank loans. According to the
article, holding company Musto Topco has loans totalling
£19.6 million.
A disappointing autumn/winter season at French
Connection has led the retailer to deliver a profits
warning-its second in three months. The company now expects to
make £4.7 million including a one-off exchange gain of
£700,000 in the year ended 31st January, compared with a
previously anticipated £7.8 million.
Multichannel retailers Hunter Boot (4),
Agent Provocateur (8), Cath Kidston
(19), Go Outdoors (20), Phase
Eight (26), Wiggle (34),
Office (35), Jack Wills (43),
Crew Clothing (62), Mountain
Warehouse (64), Hotter Comfort Concept
(69) and American Golf (81)are all named in the
Sunday
Times “Buyout Track 100”. The table lists the top
100 private equity-backed companies with the fastest growing
profits. Near the top of the table, Hunter Boot delivered an
annualised profits growth of 145.3 per cent thanks to a new
management team’s improvements. Jumping 20 places to 69, shoe
manufacturer/retailer Hotter Comfort Concept has seen profits
rise 32 per cent a year, from £7.4 million in 2008 to
£12.8 million in 2010.
Harrods and the Card Factory
make the Sunday Times’ top 10 biggest buyouts with the fastest
growing profits.
Having confirmed last week that it was in talks with its lenders,
video-games retailer Game said it has received
support from its shareholders and lenders and agreed revised
terms to ensure meeting its banking covenants. The company’s
overseas operation is still under review.
Kesa Electricals has completed the sale of
Comet Group plc, its subsidiaries and Triptych
Insurance to Hailey Holdings Ltd and Hailey Acquisitions Limited,
entities advised by OpCapita LLP.
Kiddicare’s “tasteless” babygrows
are in the
Sun this morning. The garments which carry slogans such as
“Help I’m being kidnapped. These are not my parents”,
have been slammed by charities as “appalling” and
“trivialising serious issues”.
Following a six-way competitive tender, House of
Fraser has appointed Norbert Dentressangle to manage its
510,000 square-foot e-fulfilment site in Milton Keynes, including
the receipt of goods from House of Fraser’s national distribution
centre, concession suppliers and inter-store transfers, order
picking, marshalling, packing, despatch and returns management.
It will also be responsible for the collating, picking and
packing of orders for House of Fraser’s growing wedding gift list
service.
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