Retail news

• John Lewis faces criticism over plans to dilute mutual model

  19-03-2023 18:24
  
  Shadow minister describes proposal as ‘very worrying’ while ex-PwC economist calls it ‘terribly short-sighted’Plans by loss-making retailer John Lewis to end more than seven decades as a 100% employee-owned business have drawn criticism from an MP and supporters of its mutual ownership model.Sharon White, who chairs the company behind the eponymous department store chain and Waitrose, believes the business could raise up to £2bn in new investment by diluting its mut
  
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• John Lewis considers historic change to staff ownership structure

  19-03-2023 17:30
  Sale of minority stake after 73 years as partnership would enable struggling retailer to invest
  
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• Jacqueline Gold obituary

  19-03-2023 16:59
  
  Chief executive of the Ann Summers lingerie-and-sex-toy chain who turned the business into a remarkable retail successDavid Gold said he wept at the birth of his first child, because the baby was a girl, Jacqueline. He had wanted a boy to go to football with, who might grow up to run a family business – he and his brother Ralph were early entrepreneurs in soft porn, starting with stocking spicy mags in a station kiosk in the 1950s, then producing their own publications and selling sex acce
  
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• Casino boss spins wheel yet again in race to save supermarket empire

  19-03-2023 12:31
  Jean-Charles Naouri pursues deal with former franchisee as he races to salvage group
  
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• John Lewis Partnership eyes stake sale, ending 100% staff ownership

  19-03-2023 11:33 via retailgazette.co.uk
  
  // John Lewis Partnership is at the early stages of exploring a sale of a minority stake in the business to raise funds
  // The sale would involve changing its employee-owned structure, which would need to be voted through by a council made up of its staffJohn Lewis Partnership is mulling diluting its partnership structure, meaning it would no longer be 100% owned by its staff.
  Chair Dame Sharon White is thought to be exploring the possibility of changing the retailer’s mutual structure in
  
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• THG gets second activist investor ramping up pressure on Moulding

  19-03-2023 11:32 via retailgazette.co.uk
  
  // Sparta Capital, an activist hedge fund set up by an ex-Elliott Advisors executive, has taken a stake in THG
  // It joins Kelso, which is thought to be pushing for THG to move its shares to the premium segment of the stock market. This would require founder Matt Moulding to relinquish his golden shareA stake in THG has been snapped up by activist hedge fund Sparta Capital.
  Sparta, which was set up by former Elliott Advisors executive Franck Tuil, is the second activist fund to join the online r
  
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• THG gets second activist investor as pressure on Moulding ramps up

  19-03-2023 11:32 via retailgazette.co.uk
  
  // Sparta Capital, an activist hedge fund set up by an ex-Elliott Advisors executive, has taken a stake in THG
  // It joins Kelso, which is thought to be pushing for THG to move its shares to the premium segment of the stock market. This would require founder Matt Moulding to relinquish his golden shareA stake in THG has been snapped up by activist hedge fund Sparta Capital.
  Sparta, which was set up by former Elliott Advisors executive Franck Tuil, is the second activist fund to join the online r
  
  Read more

• John Lewis Partnership eyes stake sell, ending 100% staff ownership

  19-03-2023 10:45 via retailgazette.co.uk
  
  // John Lewis Partnership is at the early stages of exploring a sale of a minority stake in the business to raise funds
  // The sale would involve changing its employee-owned structure, which would need to be voted through by a council made up of its staffJohn Lewis Partnership is mulling diluting its partnership structure, meaning it would no longer be 100% owned by its staff.
  Chair Dame Sharon White is thought to be exploring the possibility of changing the retailer’s mutual structure in
  
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• John Lewis considering end to 100% employee ownership – reports

  19-03-2023 03:43
  
  Plans to raise money in new investment said to be behind reported move, after the company said it would have to cut staffThe John Lewis retail group, which is 100% owned by its staff, is considering diluting its partnership structure, according to reports.Its chair, Sharon White, is in the early stages of exploring a plan to change the retailer’s mutual structure so it can try to raise between £1bn and £2bn of new investment, the Sunday Times reported. Continue reading...
  
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