Flying Brands has acquired 50 percent of
Dealtastic Holdings Limited, the operator of
Dealtastic, a “deal of the day”-type
site which provides consumers with special-price offers, and
Promomachine.co.uk, a voucher code and
promotions search engine.
The chief executive of Dealtastic will be Jonathan Ruff, a
Jersey-based entrepreneur, who with undisclosed related parties,
will own the remaining 50 percent of the joint company. Flying
Brands paid them £150,000 to enter into the joint
venture.
In related news, Flying Brands released it its financial
statement for the third quarter to 1st October. Sales from
ongoing business rose 12 percent from £5 million last year
to £5.6 million. Sales in the gardening division, which
includes the Gardening Direct catalogue, were
flat, while in the gifts division, sales were £2 million,
compared with £1.4 million in the same period last year.
However, due to costs associated with buying Flowers
Direct out of administration and unforeseen computer
system costs, Flowers Direct is expected to show a loss for this
year. Flying Brands had previously anticipated it to show a
profit.
Pretax losses at movie-rental business Lovefilm
narrowed from £7.4 in 2008 to £934,000 last year thanks
to increased awareness amongst consumers. Sales were up 33
percent in 2009, from £73.1 million to £97.2 million,
reports the Financial Times.
Just
days after news emerged that Office Depot
will pay $1 million to the US Securities and Exchange Commission,
the stationery giant has announced it is parting company with its
chairman and chief executive Steve Odland, effective 1st
November.
Anne Walker, founder and CEO of b-to-b catalogue
International Dance Supplies has been
shortlisted for a Stevie Award for best entrepreneur for woman in
business. The winner will be announced as a gala dinner at the
Marriot Marquis Hotel, Times Square, New York.
The Telegraph interviews Jo Cassabois, founder of
blinds and curtains business Pret a Vivre.
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