Reuters has reported this morning that the EU is set to effectively bail out Antonio Merloni, the owner of the Servis UK and Electra brands with a €68 Million loan guarantee.
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Indesit Company Eyes Potential Partners?
News has begun to circulate of a possible merger or partnership between various manufacturers and the Indesit Company who own the Hotpoint, Indesit and Ariston brands among others sold in the UK. The reports filed with various Italian online news sources seem to indicate several potential partners.
Glen Dimplex Factory On A Four Day Week
Glen Dimplex, the cooker manufacturer, will cut 70 jobs and has brought in a four-day working week for staff. Glen Dimplex Home Appliances, formerly Stoves, which employs about 1,000 people at its Stoney Lane factory in Prescot, blamed worsening economic conditions. Bosses had previously said the…
Comet To Charge For Shelf Space
Comet, the Kesa-owned high street electrical chain, is understood to be planning to charge for shelf space. The retailer has confirmed that it is currently in talks with suppliers. The move comes just weeks after the group posted a 71% profit crash in its half year results in December.
Home Depot Cuts 7,000 Jobs
The North American DIY market has taken a blow with the news Home Depot plans to cut 7,000 jobs. The chain, the world’s largest DIY retailer, will makes the cuts by axing its loss making Expo Design Centers in the US.
Homebase Redundancies
Homebase set to axe hundreds of jobs Senior staff across 300 of DIY chain’s stores are at risk of redundancy following a 10% decline in sales over the Christmas period. According to reports by The Sun, senior staff were called to meetings last week to be informed of a ‘restructuring’ that is like…
Focus credit insurance woes
Focus employees nearly 5,000 people in the UK DIY firm Focus says credit insurers have almost completely pulled the cover offered to the retailer- one of the biggest in the UK. Focus says less than 5% of its stock is now being covered by credit insurers.
More Details On the Collapse Of Empire Direct
As we reported on Monday evening, Empire Direct fell into administration after a poor Christmas for most stores selling televisions and washing machines and the situation further aggravated further by the loss of credit insurance. KPMG who are the appointed administrator to the company said the “…
Sales At Comet Continue To Slide
Kesa Electricals, the owner of the Comet electrical chain has today said that it expects its annual profit margin to fall after this year’s price cuts across the high street and warned that the “difficult economic environment” would continue. Kesa announced that group like-for-like sales, which s…
Empire Direct Enters Administration
It would appear this evening that internet retailer “Empire Direct” has entered administration. The website’s homepage has been altered to display only a short message from the receiver which reads as detailed below.