Author: Scott Dylan

Martley Capital Group secures £90m in fresh debt for The Mailbox.Leumi UK extends a £65m loan to aid refinancing efforts.The refinancing halts the sale of the iconic building.Investors in Mailbox REIT benefit from potential capital recovery.The transaction exemplifies unprecedented speed and precision.On Tuesday, 13 July, it was announced by the asset manager of The Mailbox, Martley Capital Group, that approximately £90 million in new debt had been secured. This includes a significant £65 million loan from the London-based lender, Leumi UK. This financial move is essential for refinancing and recapitalising the development, positioning it for future success in Birmingham’s city…

Caerphilly-based Sporttape is advancing its global expansion plans with a strategic £1 million investment.The company aims to triple its revenues to £12 million by leveraging both debt and equity financing to enhance its international market reach.Sporttape, headquartered in Caerphilly, is making strides towards significant global expansion. This growth follows a substantial investment of £1 million from the Development Bank of Wales. The funds are intended to fuel the company’s ambition of tripling its revenues to £12 million. Leveraging both debt and equity financing, the company aims to penetrate further into international markets, enhancing their competitive edge.The company has recently relocated…

Mars enters into a landmark $29 billion acquisition of Kellanova, marking the year’s largest global deal.Kellanova’s portfolio includes popular brands such as Pringles, Pop-Tarts, and Rice Krispie Treats.The purchase represents Mars’ biggest acquisition, surpassing its $23 billion Wrigley deal in 2008.The announcement led to an 18% surge in Kellanova’s share prices last week.Analysts suggest this acquisition could trigger further consolidation in the packaged foods sector.Mars, the renowned confectionery giant, has officially entered into an agreement to acquire Kellanova for a sum exceeding $29 billion. This acquisition is notable for being the largest global deal of the year, cementing Mars’ position…

Aldi is set to discontinue its click-and-collect service, focusing on maintaining lower prices for customers.The last day for customers to order for collection is 18 August, marking the end of the four-year trial.The decision aims to enhance store efficiency and reduce operational costs.This move follows Aldi’s recent cessation of home deliveries for select product ranges.Aldi continues to invest in expanding its physical store presence across the UK.Aldi has announced the termination of its click-and-collect service, with the last date for collection orders set for 18 August. This decision ends a four-year trial period and aligns with Aldi’s strategy to focus…

The inflation rate has increased, reaching 2.2% in July 2024 due to rising utility costs.The Consumer Prices Index (CPI) reflects a notable increase from the previous month, achieving a 2.2% rise.Gas and electricity prices have been identified as key factors contributing to this inflation surge.Clothing and footwear prices also saw an increase, counterbalanced by a decrease in sportswear prices.Retailers face potential business rate challenges as inflation impacts the economy.The Annual Consumer Prices Index (CPI) indicates a rise in inflation to 2.2% in July 2024, as reported by the Office for National Statistics (ONS). This figure marks an increase from the…

In a strategic move, John Lewis plans to enhance customer service by restructuring its workforce.153 roles will be cut, representing 1% of the workforce, through natural attrition and voluntary redundancies.The distinction between front and back-of-store roles will be removed to increase staff presence on the shop floor.Investment in digital technology aims to improve communication and efficiency among staff.New systems include mobile payments facilitating direct shop floor purchases, enhancing customer experience.John Lewis, in an effort to elevate its customer service, has announced plans to cut 153 roles within its workforce, which constitutes approximately 1% of its total staff. The company aims…

Evri, a leading parcel delivery company, has successfully negotiated a lease for the last available unit at the Bristol industrial and distribution park. This strategic move aims to enhance its regional logistical capabilities, essential for its expansive delivery network.Covering 113,573 square feet, the new facility at Central Approach in Pilning will be integral to Evri’s operations. The agreement further emphasises Evri’s commitment to expanding its footprint within the UK by bolstering its distribution efficiency.Evri’s acquisition of the final building at the Central Approach development marks a significant milestone in its strategic expansion within the UK. The newly leased space will…

Regatta Ltd has promoted Tom Goodman to the position of chief digital and technology officer, effective August 2024.Goodman will oversee digital, customer experience, technology, and artificial intelligence (AI) functions across the Regatta Group.A new membership scheme aimed at enhancing omnichannel experiences is set to launch under Goodman’s leadership.Prior to Regatta, Goodman held key roles at Deloitte, Selfridges, and JD Sports Group, enriching his expertise in digital transformations.Regatta’s chairman and CEO, Keith Black, expressed confidence in Goodman’s ability to enhance the brand through his extensive experience.Regatta Ltd has announced the promotion of Tom Goodman to the role of chief digital and…

Grocery inflation in the UK has led to significant changes in supermarket sales dynamics.While some major supermarkets are thriving, others like Asda and the Co-op are facing challenges adapting to this economic climate.Market Trends in UK GroceriesThe UK grocery sector is experiencing significant shifts, driven by grocery inflation reaching 1.8%. This marks the first increase since March 2023 and has influenced consumer spending patterns. Major events such as the Euro final and favourable weather have played a role in drawing customers into stores, boosting the sales of major chains like Tesco and Sainsbury’s.According to Kantar’s data, supermarkets have reported a…

Birmingham is set to host its annual Tech Week, focusing on pivotal topics such as gender diversity in technology and skill enhancement. The event, running this October, is expected to draw over 8,000 attendees keen to engage with leading industry experts.With more than 100 speakers lined up, Birmingham Tech Week will explore themes including leadership and innovation. This gathering serves as a beacon for collaboration, offering insights from tech giants like Microsoft and Amazon. Attendees can look forward to an enriching experience across various venues.Looking beyond 2024, Birmingham Tech Week aims to maintain its trajectory of growth and influence within…