Author: Scott Dylan

Ted Baker Design Group, controlled by PDS Group, is set to reduce its workforce by a third, affecting around 30 roles.The job cuts will occur in the current London headquarters, located on Cleveland Street.These reductions are not linked to Ted Baker’s recent administration process or the closure of its UK stores.The decision stems from a decreased workload in product design and sourcing, as revealed last week.PDS Group previously established Ted Baker Design Group as a global hub for innovation in April 2023.Ted Baker Design Group, managed by PDS Group, is poised to cut approximately one-third of its workforce, impacting around…

The recent unrest in the UK, sparked by misinformation, has significantly impacted retailers across the country.Riots initiated in Southport have led to widespread disruptions, affecting businesses in multiple cities.Retailers are taking preventive actions, including closing stores early, to ensure the safety of their employees and properties.The British Retail Consortium is actively engaging with members to discuss mitigation strategies against further incidents.Businesses continue to experience reduced footfall, raising concerns over financial performance and long-term impacts.The UK has recently witnessed a spate of riots, originally stemming from Southport, Merseyside. These disturbances were triggered by misinformation surrounding the tragic killing of three young…

Asos introduces a ‘Value Creation Plan’ to boost shareholder value through senior leadership incentives.The new plan sets a maximum executive bonus of 150% of base salary, contingent on share price growth.This initiative replaces the current ‘Long Term Incentive Scheme’ with a more growth-oriented approach.The policy change reflects Asos’ focus on aligning leadership with ambitious company growth amid financial challenges.A shareholders’ meeting to discuss these proposals is scheduled for 20 August in London.Asos has unveiled a new remuneration strategy known as the ‘Value Creation Plan’ aimed at enhancing shareholder value through significant growth in the company’s share price. The proposed plan,…

Dubai-based engineering firm Dar Al-Handasah has decided to end its acquisition talks with John Wood Group, citing geopolitical and financial uncertainties.This move has led to significant market reactions and discussions on the future of both parties involved.Dar Al-Handasah Withdraws from Acquisition TalksDar Al-Handasah, a Dubai-based engineering consultancy also known as Sidara, has unexpectedly ceased discussions regarding its acquisition of the London-listed John Wood Group. The decision comes amid concerns about rising geopolitical risks and financial market uncertainty. Sidara’s decision swiftly followed its announcement on Monday, highlighting the inherent volatility in today’s financial and political landscapes.The abrupt halt to the acquisition…

Frasers Group is reportedly in talks with Authentic Brands Group concerning a potential partnership.The discussions focus on Frasers potentially taking over operations of Reebok in the UK and Europe.Sources confirm the ongoing talks, although they caution an agreement is not guaranteed.Authentic Brands Group owns over 50 brands, including Ted Baker and Reebok, managed through global partnerships.There is uncertainty regarding Frasers’ role as the frontrunner for Ted Baker’s UK operations after recent setbacks.Frasers Group has shown interest in collaborating with Authentic Brands Group to become the operating partner for Reebok in the UK and European markets. This potential deal is part…

Seasalt experiences unprecedented growth with a 146% rise in operating profit to £7.9m.Total revenue for Seasalt increased by 12% year on year, reaching £132.6m due to strong physical shop sales.The retailer expanded significantly, opening new stores across the UK and Ireland, totalling 73 profitable locations.Partnerships with third-party platforms such as Marks & Spencer and Next contributed to 13% of group revenues.Seasalt is gearing up for its first North American expansion with a planned store in New England.Seasalt has reported a landmark achievement, marking a 146% rise in operating profit to £7.9 million for the fiscal year ending 27 January. This…

A significant development has reached completion at the Port of Liverpool with the unveiling of a new 240,000 sq ft warehouse. Constructed by Glencar for Peel Ports, this facility underscores the persistent demand for warehousing space.The newly constructed warehouse by Glencar at Alexandra Dock represents a substantial investment in port infrastructure. Spanning the length of five full-size football pitches, the facility took a year to build. The project included intensive efforts, such as the installation of over 6,500 piles and the pouring of more than 40,000 cubic metres of concrete, highlighting the scale and complexity of the development.The warehouse aims…

Plans for a new housing development in Fairford, Gloucestershire have been submitted by Cala Homes to Cotswold District Council. The proposed development encompasses a 19-acre site and includes various amenities to enhance community living and environmental sustainability. The site has received outline planning permission and the housebuilder intends to align with stringent standards for green infrastructure. This proposal signifies a step forward in providing affordable and sustainable housing solutions in the region.Development Proposal OverviewCala Homes has submitted a comprehensive planning application for a new residential project in Fairford, Gloucestershire. The development is proposed for a 19-acre site located on Hatherop…

Societe Generale has reached a significant milestone by divesting its UK and Swiss private banking units to Union Bancaire Privee (UBP), marking a notable shift in its business strategy.This pivotal transaction, valued at £771 million, is a strategic move by the French banking giant to focus on more profitable aspects of its global operations.In an effort to streamline its business, Societe Generale is strategically divesting its UK and Swiss private banking sectors. This decision aligns with their roadmap to enhance operational efficiency and strengthen the group’s capital position. The shift indicates a calculated focus on core, more lucrative markets. Selling…

Cardiff-based travel platform Lovetovisit has raised £3.2 million in a new investment round, signalling a significant step in its growth trajectory. The funding is aimed at enhancing its technological capabilities and expanding its market reach both domestically and internationally.Investment Details and Key StakeholdersThe latest investment round for Lovetovisit, a Cardiff-based travel platform, was led by notable venture capital firms Venrex and Redrice Ventures. Additional contributions came from Active Partners, Velocity Partners, and several angel investors. This strategic financial injection is earmarked for scaling operations in the UK and exploring new international markets, marking a pivotal moment in the company’s expansion…