Shop Direct, which had been seeking a
VAT rebate from HM Revenue & Customs, has been told by the
High Court that interest owed will not be calculated on compound
terms. According to an article in the Independent, HMRC will have to pay interest
on £200 million that it has already accepted is owed to Shop
Direct as a VAT refund, but that its liability will be limited.
Ocado has appointed five banks ahead of its
float on the stock exchange next month. The Telegraph names them as Barclays, Lloyds
Banking Group, HSBC, Numis, and Jefferies, which will work
alongside Goldman Sachs, UBS and JP Morgan Cazenove. The article
also says that if successful, Ocado’s flotation could wipe out
the online grocer’s debt and net approximately £180 million
for the company’s three founders.
Karren Brady, who’s currently appearing on BBC1’s Junion
Apprentice as Lord Sugar assistant, is to join the board of
Arcadia-owned Topshop, reports the Telegraph. To take up her role at Arcadia,
Brady steps down as nonexecutive of
Mothercare.
Following its top-ranking in the Which? survey last week,
Lakeland is profiled in the Telegraph.
Homewares and apparel etailer, Cabbages and
Roses, storage ideas retailers The Holding
Company, and homewares/apparel cataloguer/retailer
The White Company are featured in an Independent article about brightening up your
home in time for summer.
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