Author: Scott Dylan

Matalan’s CEO Jo Whitfield has resigned after 18 months, impacting the organisation’s leadership.Whitfield aims to explore a portfolio career, stepping away from her role in retail leadership.During Whitfield’s tenure, Matalan made strides in its turnaround strategy, garnering praise for profitability and value improvement.Chairman Karl-Heinz Holland temporarily assumes executive roles while a successor is sought.Whitfield and Matalan’s leadership express confidence in the continued success post-transition.Jo Whitfield, the Chief Executive Officer of Matalan, has stepped down after serving the company for just over 18 months. Her departure reflects her intention to pursue a portfolio career, moving away from her current leadership position…

The UK division of JLL has faced a challenging financial year. The significant decline in pre-tax profits has been attributed to increased market uncertainty.In 2023, JLL reported a pre-tax profit of £21.9 million, a stark drop from the £60.9 million recorded in 2022. This decrease was influenced by heightened inflation and interest rates.JLL’s financial results for the year reveal a notable decline in performance. The pre-tax profits have decreased significantly, falling from £60.9 million in 2022 to £21.9 million in 2023. The turnover also saw a drop, from £460 million to £426.7 million. This decline has primarily been attributed to…

Footasylum has secured a £35m credit facility from HSBC to support its UK expansion and sustainability efforts.The credit facility includes a Sustainability Improvement Loan linked to Footasylum’s ESG performance, which may reduce interest rates upon meeting targets.Footasylum plans to open new stores in several major UK locations, including Aberdeen and Oxford Street.The funding will also bolster Footasylum’s investments in digital customer experiences and omnichannel technology.Sustainability remains a focus, with efforts towards achieving net-zero carbon emissions and increasing the use of environmentally friendly logistics.Footasylum has successfully secured a substantial £35 million funding package from HSBC. This financial support is intended to…

Matalan CEO Jo Whitfield has resigned after a transformative 18-month tenure, aiming to pursue a portfolio career.Whitfield successfully led the company’s transformation programme, assembling a robust leadership team.Interim leadership will be managed by Matalan chair Karl-Heinz Holland until a new CEO is appointed.The company achieved a significant reduction in losses and improved operational performance during Whitfield’s leadership.Despite revenue challenges, Matalan remains financially and operationally stable according to the board.Jo Whitfield, having held the position of CEO at Matalan for 18 months, has resigned to focus on a portfolio career. During her tenure, Whitfield was instrumental in leading a transformation programme…

John Lewis Partnership’s CEO Nish Kankiwala will transition to a non-executive role in 2025.Kankiwala had taken up the CEO position to aid in the company’s transformation efforts.Under his leadership, the company reduced its pre-tax losses significantly.Jason Tarry, the new chairman, appreciates Kankiwala’s contribution to the company.The transition marks a strategic phase for John Lewis and Waitrose as they continue to progress.Nish Kankiwala, who has been serving as the Chief Executive Officer of John Lewis Partnership, will step back to a non-executive role in March 2025. This move aligns with the company’s strategic objectives as it ushers in a new leadership…

The North East Business Awards 2024 was a significant event, gathering over 300 attendees at Hardwick Hall to celebrate regional business excellence. Ten prestigious awards were distributed, spotlighting the outstanding achievements of businesses and individuals.Wootzano Ltd, a leading robotics firm, emerged as the grand winner, securing the title of North East Business of the Year. Their pioneering expertise and growing international presence highlight the region’s capacity for innovation and growth.Wootzano Ltd TriumphsWootzano Ltd was honoured with the North East Business of the Year award. Initially located at NETPark in County Durham, the company has now expanded to Cobalt Business Park…

The Vaulkhard Group, a key player in Newcastle’s leisure sector, is undergoing a strategic transformation.This year, the company shifted its focus away from youth-centric nightlife venues, signalling a move towards a more diversified portfolio.In a significant strategic shift, the Vaulkhard Group, a notable name in Newcastle’s leisure industry, has actively begun restructuring its business model. This year marked a notable departure from their previous focus on late-night venues targeting younger demographics. The decision aligns with a broader vision to reposition their portfolio for future stability and growth. The company’s transition has been underscored by several key acquisitions and disposals, demonstrating…

Sosandar continues its UK expansion with a new store in Cardiff’s St David’s shopping centre, marking its fourth location.Recent openings include Chelmsford, Marlow, and the Metrocentre in Newcastle, indicating a robust growth strategy.The retailer has also announced plans to introduce physical stores in Ireland, leveraging its success with online sales.Sosandar aspires to open up to 50 stores, highlighting the ambitious scale of its expansion.The co-CEOs express excitement as they integrate strategic locations to become a leading multichannel retailer.Sosandar is poised to enhance its retail footprint in the United Kingdom with the launch of its fourth store at Cardiff’s St David’s…

Mars Wrigley, a leader in the confectionery market known for brands like Mars bars and Skittles, has announced a significant dividend of £600 million to its UK owners.This marks a substantial increase from the £115 million distributed in 2022, and reflects the company’s remarkable financial performance over the past year.The UK division of Mars Wrigley has experienced notable financial success, with revenues increasing from £1.23 billion to £1.43 billion. The impressive growth in turnover is reflective of its robust performance in the confectionery market.Pre-tax profits for the company have also seen a significant rise, jumping from £117.4 million to £245.2…

Beacon Foods, a prominent UK-based supplier of ingredients and ready-to-eat products, has been awarded the title of best business in Powys at the 2024 Powys Business Awards.Founded in 1993, this family-owned company has been at the forefront of the food industry, consistently demonstrating excellence in growth and innovation.Over its 31-year history, Beacon Foods has transformed from a humble start-up into an industry leader. Operating from a 53,000 sq ft manufacturing facility in Brecon, the company now employs 130 individuals. This growth has not only solidified its position in the market but also exemplified its commitment to excellence and sustainability. The…