Author: Scott Dylan

Wintech, a prominent engineering firm based in Wolverhampton, has announced its strategic acquisition of SDP Consulting Engineers. This move marks a significant step in enhancing Wintech’s range of services, aligning with their vision to offer a comprehensive package of engineering solutions across the UK.Wintech, specialised in façade engineering, has expanded its operational capacity through the acquisition of SDP Consulting Engineers. By acquiring this St Albans-based firm, which excels in structural, civil engineering, and surveying, Wintech aims to broaden its service offering. This strategic buyout supports Wintech’s ambition to serve as a single point of responsibility for diverse engineering services, including…

In the challenging economic environment of the UK, the South West is seeing a surge in financial distress. Companies across various sectors are grappling with severe economic pressures.A significant rise in financial distress among South West businesses indicates broader economic challenges. Key industries like construction and hospitality are notably affected, illuminating the region’s vulnerability.Rising Financial Distress Across SectorsA recent report by Begbies Traynor highlights the financial challenges faced by over 42,000 companies in the South West, marking a 7.3% quarterly increase and a significant 40.1% annual rise in financial distress. This surge in distress signals a broader economic pressure impacting…

L Catterton, supported by LVMH, has acquired a significant stake from Hammerson.Hammerson agreed to sell its 42% share in Value Retail, a designer outlet operator.The transaction is valued at £1.5 billion, with cash proceeds of approximately £600 million for Hammerson.Value Retail operates nine luxury outlet centres across major European cities.This strategic move aids Hammerson in focusing on growth and value creation.L Catterton, a private equity firm supported by LVMH, has successfully acquired a 42% stake in Value Retail previously held by Hammerson. This strategic sale agreement, concluded at an enterprise value of £1.5 billion, signifies a major move in the…

John Lewis Partnership has launched a repair service trial in collaboration with Timpson Group across five select stores.The trial aims to gather insights on customer preferences, garment types commonly repaired, and customer demographics.Repairs and dry cleaning services are priced from £10.95 to £99.95, depending on the service required.The initiative reflects John Lewis’s commitment to sustainable fashion by extending the life of fashion items.Commercial Director Kathleen Mitchell emphasises the service’s role in bringing beloved garments back to life.The John Lewis Partnership has started a 16-week repair service trial in collaboration with Timpson Group’s Johnsons, in five chosen locations: Oxford, Liverpool, Cheadle,…

Frasers Group, known for owning Sports Direct, has acquired Northampton’s independent fashion retailer, Thackerays.Thackerays, established in 1972, is recognised for its premium offerings in men’s and women’s fashion.The acquisition follows recent talks of Frasers Group buying premium etailer Coggles.Recent acquisitions by Frasers Group include Aphrodite, John Anthony, and Zee & Co.Frasers Group experienced a financial dip, reporting a £12.5m loss from a previous acquisition.Frasers Group, the owner of Sports Direct, has made a significant move by acquiring the independent fashion retailer Thackerays, located on Wellingborough Road in Northampton. Thackerays, founded in 1972, is celebrated for its premium collection of men’s…

Cotton Traders experienced a decrease in revenue and profit during 2023 due to challenging economic conditions.The company’s turnover fell by 1.7% over 52 weeks in 2023, compared to a longer 53-week period in 2022.Operating profit decreased by 9.9% to £9.8 million year-on-year, influenced by inflation and the cost of living crisis.E-commerce sales increased, particularly in womenswear, while in-store sales also showed growth due to new store openings.Menswear sales remained steady, with notable increases in specific categories.Cotton Traders reported a decline in its financial performance for 2023, attributed to broader economic pressures such as inflation and the cost of living crisis.…

Selfridges has introduced a new outdoor attraction: a 40ft climbing column outside its Oxford Street store.The climbing column is part of Selfridges’ summer Sportopia campaign, offering a unique outdoor activity.This facility is available for six weeks, accommodating groups, and has been inspired by the store’s iconic façade.The initiative coincides with the rise in global interest in sport climbing, following its Olympic inclusion.Sessions are priced at £16.50 for adults and £12.50 for children, providing an accessible adventure.Selfridges, the renowned department store on Oxford Street, has launched a striking 40ft climbing column as an innovative addition to its premises. This new feature…

Ghost, a prominent womenswear brand, is set to diversify its offerings for the autumn/winter 2024 season.The new product categories introduced are denim, knitwear, and outerwear, enhancing Ghost’s collection.New items will be available online with competitive pricing starting at £69 for knitwear and £89 for denim.The collection features a cohesive design inspired by 1970s feminine and modern bohemian styles.Ghost celebrates its 40th anniversary, continuing its legacy under the ownership of Touker Suleyman.Ghost is expanding its product range with the introduction of three new categories: denim, knitwear, and outerwear, for the autumn/winter 2024 season. This move is aimed at offering a wider…

Faced with an unprecedented £180 million funding deficit, Somerset Council is taking decisive steps to stabilise its finances.The local authority’s strategy includes selling various assets, aiming to cover funding gaps for the current and upcoming financial years.Somerset Council has declared a financial emergency, prompting plans to liquidate certain assets. The council must mitigate an £80 million shortfall for this year and an additional £100 million for the financial year 2025-26. Pending a final decision, the proposals for asset sales are slated for review by the executive on August 7.As these sites may require confidentiality during the sale process, individual disposal…

A key webinar focusing on peak trading preparation is on the horizon.Physical stores remain pivotal for fashion consumers, despite digital trends.Communication strategies are vital for seamless operations between headquarters and stores.Automation in task tracking can minimise errors and save time for retailers.Visual merchandising plays a crucial role in optimising sales and customer satisfaction.A significant webinar is set to address peak trading season preparations for retailers, featuring insights from industry leaders including Mountain Warehouse, The White Company, and Cegid. This session underscores the continued importance of physical stores, even as digital shopping trends grow. Research from Drapers reveals that despite the…