Retail news

• TM Lewin’s new owner eyes sweeping store closures via pre-pack deal

  28-06-2020 15:40 via retailgazette.co.uk
  // Majority of TM Lewin’s 66 stores could close down if it goes ahead with a pre-pack administration
  // SCP Private Equity appointed restructuring experts a month after it bought TM Lewin for an undisclosed sumThe new owner of TM Lewin has reportedly drafted in restructuring experts that could potentially lead to the closure of the majority of its 66 stores.
  According to The Sunday Times, restructuring firm ReSolve was called in for the menswear retailer to make it a principally onlin
  
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• Is plaster the new toilet roll? Lockdown DIY binge stretches UK supplies

  28-06-2020 15:30
  
  Cement, plaster, fence panels, paint and power tools in huge demand as DIY shops report up to 250% sales rise The nation has triggered its own DIY SOS with an “extreme” home improvement binge during lockdown triggering shortages of paving slabs, fence panels and even bags of plaster and cement.While some Britons turned to baking sourdough loaves and banana bread others have been tackling much-delayed DIY projects, ranging from mending fences to laying patios and skimming walls. Conti
  
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• Canadian pension fund pushes for Trafford Centre sale following Intu’s collapse

  28-06-2020 14:44 via retailgazette.co.uk
  // Canada Pension Plan Investment Board seeks sale of Trafford Centre after sinking Intu’s rescue efforts last week
  // CPPIB has a £250m loan secured against Trafford Centre and hopes to recover that debt via a sale
  // Out of Intu’s 17 shopping centres in the UK, Trafford Centre remains its most valuable assetThe Canadian pension fund that dropped a bombshell in Intu’s rescue talks which led to its administration is now reportedly pushing for the sale of one of its prime
  
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• The Hut Group mulls stock market float worth £4bn-£5bn

  28-06-2020 13:56 via retailgazette.co.uk
  // The Hut Group eyes stock market float worth between £4bn-£5bn
  // The online beauty retail group is in talks about a share sale that could lead to a London flotation
  // Reports suggest The Hut Group is courting global investment firms to get this happeningThe Hut Grou‎p is reportedly courting global investors about a share sale that could lead to a stock market flotation worth between £4 billion to £5 billion.
  According to Sky News, the online retail group is i
  
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• Sales are soaring, but Sainsbury’s new boss is expecting a bumpy ride

  28-06-2020 01:05
  
  Simon Roberts will be facing questions about pay policies at his very first outing this weekSimon Roberts has only just got his feet under the desk at Sainsbury’s, but shareholders are already asking whether the supermarket’s new chief executive can follow the retailer’s own advertising slogan and “live well for less”.Roberts will get his first outing before shareholders at the company’s quarterly results on Wednesday before the annual shareholder meeting on T
  
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