Category: Appliance Money

Eric Watson’s Pacific Retail Group yesterday agreed to sell its finance business for $145 million, concluding nearly a year of deliberations over its future. The deal with GE Finance, a finance arm of US giant General Electric, will free up cash to repay debt and help prop up its money-hungry Bri…

Alcatel & Ericsson in battle to takeover Marconi, as Marconi control the pensions and deffered pensions of ex GEC staff including ex Hotpoint engineers, this should be good news as they will be compelled to fill the massive £400 million hole in the current fund.

MasterCard stands accused of “taxing”consumers Mastercard and the banks issuing its credit cards have been overcharging their customers, according to the Office of Fair Trading (OFT). The fee levied on retailers to recover the costs of the card system was too high, the watchdog says.

Holidaymakers who buy faulty goods abroad could soon be able to apply for compensation in the UK under EU plans. The scheme put forward by the European Union seeks to speed up and simplify the process by which people can make low-value claims between member states.

The Consumer Credit Bill, which was hailed as the Government’s flagship consumer protection legislation, has been dropped because there is no time for it to be passed before the General Election on May 5. The Bill represented a major shake-up of the consumer credit laws and was supposed to restri…

Pacific Retail Group’s money-gobbling UK appliance chain Powerhouse will break even in two years – but it still weighs heavily on the group. Half-year profits soared from $341,000 to $55.6 million, thanks to a $92 million one-off gain from its August sale of the Noel Leeming and Bond & Bond a…

Pacific Retail Group says the six-month loss for money-gobbling UK subsidiary PowerHouse could be $17 million worse than forecast. The 128-store appliance retailing chain was now expected to lose $36 million to $39 million in the six months to September 30, PRG disclosed yesterday.

Pacific Retail Group’s sale of the Bond and Bond and Noel Leeming retail chains to Australian equity investor, Gresham Partners, cannot be completed until the company complies with a trust deed for its capital note holders. Pivotal to this compliance is the future of PRG’s struggling British elec…

Pacific Retail Group has turned its back on a planned public share float for its core retail chains, after agreeing to sell the businesses to Australian investment fund Gresham Private Equity for $138.5 million.

Pacific Retail Group (PRG) is confident it can bring the recently acquired British appliances retailer Powerhouse to break-even point during the current financial year.