Retail news
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Somerfield refinancing delayed
- Posted:
- 13 August 2007 09:24
According to press reports, the refinancing of supermarket chain Somerfield has been delayed until autumn at the earliest. The company, owned by Robert Tchenguiz who bought it in 2005 as part of a consortium, is thought to still be in talks with its banks – Citigroup, Barclays and Royal Bank ...read more
Barclays confirms merger talks with Dutch bank
- Posted:
- 20 March 2007 09:44
Barclays has confirmed press speculation after revealing in a statement that it is in preliminary discussions with Dutch bank ABN AMRO, concerning a potential combination of the two organisations. If successful, the merged bank will serve approximately 47 million customers with a worldwide staff count of 220,000. It is thought ...read more
Barclays announces record profits
- Posted:
- 20 February 2007 09:31
Barclays Bank, the first of the top UK banks to announce its profits for 2006, has revealed a total profit increase of 35% to £7.14 billion. Mortgages and savings accounts helped push UK high street profits up 17% to £1.2 billion. John Varley, group chief executive, said: "Barclays had an ...read more
Adams Kids backers to lose £10 million
- Posted:
- 23 January 2007 10:06
Private equity houses and banks behind children’s clothing retailer Adams Kids are expected to lose over £10 million when the company is auctioned off later this week. There are thought to be five bidders for the troubled retailer’s parent Myriad, but press reports have suggested that it is unlikely to ...read more
Debenhams’ backers sitting on £1 billion of debt
- Posted:
- 22 January 2007 09:28
According to press reports, the high street banks that allowed Debenhams’ return to the stock exchange last year are struggling with the remainder of the retailer’s debt some eight months after the flotation. HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays are believed to be holding almost the entire ...read more
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