Virgin Money has received an offer from Clydesdale and Yorkshire Bank (CYBG PLC) to take over the company. The revised offer, valued at £1.6 billion, will increase Virgin Money shareholders' interest in the combined company to 38%, up from 36.5%. The Panel on Takeovers & Mergers has granted an extension to June...
Vodafone , one of the world’s largest international telecoms companies, has joined RE100 today, committing to purchase 100% of the electricity it uses from renewable sources by 2025. Led by The Climate Group, in partnership with CDP, RE100 brings together the world’s most influential companies committed to 100% renewable electricity. Vodafone’s...
50 Stores to close and 800 jobs at risk Mothercare has received approval for a rescue plan known as a Company Voluntary Arrangement or CVA, following the creditors' meetings today. The company will be able to continue to trade as a going concern under the control of its directors. Although today's approval prevents Mothercare...
The Carphone Warehouse, owned by Dixons Carphone, have announced plans to close 92 stores this year, stating that they won’t tolerate the current performance in mobile, or as a Group. Dixons Carphone expects pre-tax profits in the year 2017-18 to be £382 million, but then fall to £300 million in 2018-19. The...

Tesco Direct closing down

Tesco has announced plans to close its non food website, Tesco Direct, on 9 July 2018. Tesco Direct sells a range of general merchandise, including technology, homeware, clothing and toys for delivery or collection. Approximately 500 jobs across the business will be at risk of redundancy. Tesco Direct has faced a...
Marks and Spencer have announced the next tranche of UK stores proposed for closure as it reshapes its UK store estate in line with its target to take at least a third of sales online. M&S plan to close over 100 stores by 2022, including 21 that have already closed...
Mothercare has announced plans to close fifty stores as part of a rescue plan. The closures could result in the loss of at least 800 job losses throughout the UK. The restructuring plan, known as a Company Voluntary Agreement or CVA will secure funding of £113 million and result in the closure...
Zoopla, owned by ZPG Plc, has agreed to a proposed takeover by US private equity firm Silverlake for £2.2 billion. ZPG, which was founded in 2007, owns and operates some of the UK's most recognised digital brands including Zoopla, uSwitch, Money.co.uk, PrimeLocation and SmartNewHomes. The ZPG Directors intend to recommend unanimously...
House of Fraser has confirmed plans to close some of of its stores as part of a restructuring plan that will see C. banner international, the Chinese owner of Hamleys toy shop, acquire a 51 per cent stake in the company, for a reported sum of £70 million. House of...
A merger worth £13 billion between Sainsbury's and Asda  has been confirmed by Sainsbury who plan to merge with Asda which is owned by Walmart. Mike Coupe, Chief Executive of Sainsbury's, has said the deal would not result in store closures or job losses. As a result of the merger the...

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