Following its profits warning last week, multititle catalogue
group Flying Brands has agreed to sell part of
its premises at Retreat Farm, comprising unused office space and
employee accommodation, to a Jersey-based property developer. JAJ
Properties will pay £2.1 million in cash, plus 10 percent of
any eventual development profits. A substantial shareholder in
JAJ Properties is Jonathan Ruff, a director of former Flying
Brands subsidiary Dealtastic.
Former eBay chief executive Meg Whitman has been
appointed president and chief executive at technology company
HP.
Royal tailor Gieves & Hawkes has sold its
flagship London store to a group controlled by parent company
Wing Tai Properties, reports the Sunday Times via Bloomberg. According to the article, turnover
fell from £16.6 million to £15.6 million in the year to
December 2010.
Looking for a jolly news article about Christmas? Then don’t read
this news item from the Telegraph: Many retailers “could go bust
before Christmas”.
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