Habitat, the trendy furniture store started by Sir Terence Conran in the 60s, has been put up for sale by its Swedish owner, Ikano Group. The Kamprad family, which owns Ikano as well as Ikea, has appointed the investment bank Lazard to hold a strategic review the loss-making chain, which could lead to a sale.
Source: The Sunday Times
Yell, the owner of Yellow Pages, is likely to need a two-week deadline extension for its lenders to agree plans to restructure its £3.8 billion debt. The company is meeting with bankers today to vote on its restructuring, but may need longer to achieve the support of 95 per cent of lenders required for the restucturing to be allowed.
Source: Financial Times
Debenhams is expected to announce that its chairman, John Lovering, will step down next year when the company reports its full-year results on Thursday. Lovering’s departure is expected to prompt a boardroom shake up at the retailer, which is forecast to report profits of between £120 and £130 million, up from £110 million last year.
Source: The Sunday Times
National Express has confirmed it has received an all-shares £1.6 billion offer from rival Stagecoach. National Express, which ran into difficulty earlier in the year when it lost the prestigious East Coast Mainline rail franchise, is also looking at a £300 million rights issue to strengthen its balance sheet. It is holding a board meeting today to discuss both options.
Source: The Times
