Homeware retailer Robert Dyas has completed a management buy-out led by CEO Steven Round and non-executive chairman and restructuring expert Ian Gray. The deal was backed by existing lenders Lloyds and Allied Irish Bank.
Woolworths survived two world wars, the great storm of 1987 and an onslaught of Eurovision song entries. Now saddled with debt of £385 million, this Christmas could be the last for the high street stalwart for stationery, sweets and tat.
Troubled retailer Floors-2-Go, which went into administration last month following the failure of a management buy-out backed by VC firm Alchemy Partners, has been bought by flooring and carpeting entrepreneurs the Hodges brothers.
Creo Retail Marketing, a recently-formed retail marketing agency, has acquired point-of-purchase (POP) print business the Lauren Group – a move reported to boost Creo’s annual turnover to £10 million.
Mid-market private equity house Graphite Capital has backed a management buy-out of shoe retailer Kurt Geiger from its current owner, Barclays Private Equity.
The Original Factory Shop, a Lancashire-headquartered retailer with 84 outlets across the UK, has been acquired by private equity firm Duke Street Capital for £68.5 million.
London-based fund Agilo, which specialises in ‘distressed assets and special situations’ has bought a loss-making bedding and home furnishings retailer.
Rippleglen, a Birmingham-based CTN operator, has acquired Northcliffe Retail, the news shops arm of Daily Mail and General Trust, with 61 outlets in the Midlands and the North, for £8.2 million.
Unfortunately, “tall poppy” syndrome is a fact of business life in the UK. The more successful or prominent a business or other enterprise becomes, the greater the amount of criticism it attracts. It isn’t the most endearing of our national traits, and I believe that it underlines much of Tesco’s savaging.
