In today’s news, The Times reports that one day after Arcadia announced that creditors had approved its last-minute deal to save its retail empire, 170 roles from head office will be cut.
Also in The Times, Majestic Wine says it’s in talks with “multiple bidders” for its retail chain, worth an estimated £100 million.
Why Saks Fifth Avenue buyout offers new look on leverage (Financial Times)
Hundreds of jobs saved as leftovers of Jamie Oliver’s restaurant empire gobbled up by Upper Crust owner (Telegraph)
Sales fall puts Tesco under the weather (The Times)
Amazon and Wm Morrison: food retail’s odd couple have clicked (Financial Times)
M&S struggles to deliver on Ocado rights issue (The Times)
Watchdog ‘failed’ in mission to scrutinise GRG scandal (The Times)
Woodford sells nearly £100m of shares to save fund (The Times)
PWC fined £4.55m over audit failure (The Times)
