Storehouse abandons search for new chief

STOREHOUSE, the ailing retailer that owns Bhs and Mothercare, has abandoned its search for a new chief executive and has instead decided to split its business in two, writes Dan Gledhill.

NOT THE REAL THING BUT...

Cream faux sheepskin gilet (sizes 8-16), pounds 50, Warehouse, 19-21 Argyll St, London W1 (tel: 0800 9159902)

Real Clothes: If in doubt, head for the high street...

Burgundy velvet dress (sizes 8-16), pounds 50, Warehouse branches (tel: 0800 9159902)

Storehouse director leaves

STOREHOUSE, THE struggling Bhs and Mothercare retailer which issued a profits warning on Monday is parting company with its development director Steve Bedford. He will depart with a pay-off equivalent to one year's salary of pounds 244,000.

Arcadia buys Sears for pounds 151m

ARCADIA YESTERDAY announced the pounds 151m purchase of Sears from Philip Green, the retail entrepreneur, raising speculation in the City that Mr Green could now turn his attention to Storehouse, the troubled owner of Bhs and Mothercare.

Letter: In Brief

Sir: Roger Withers (letter, 5 July) criticises superfluous packaging. I recently bought some computer software and found the commodity-to-packing ratio ludicrous. It seems that an absurd situation has arisen because items such as CDs would otherwise look unimpressive in relation to their cost. Such packages commonly waste more than 90 per cent of space, which is transported, warehoused and handled many times and then sold at an exorbitant price, while adding grossly to waste-disposal problems.

Littlewoods denies Storehouse intentions

LITTLEWOODS, the privately-owned retail and football pools empire, yesterday announced confident results boosting City expectations that it was getting into shape for flotation.

Outlook: Golden goodbye

WE HAVE HAD Cadbury, we have had Greenbury and we have had Hampel but the rewards for failure at boardroom level still keep on rolling in.

Storehouse shares leap as Edelman resigns

STOREHOUSE, THE troubled owner of BhS and Mothercare, yesterday announced the resignation of Keith Edelman, the chief executive, a week after the group reported a 20 per cent slump in profits and the closure of 68 Mothercare stores.

Outlook: Storehouse

PETER SALSBURY, the new chief executive at Marks & Spencer, might feel as if he has the whole world on his shoulders at the moment but if he fancies a chat with someone in a similar hole, he could do a lot worse than meet up for a few drinks with Keith Edelman.

B&Q growth to create 2,500 jobs

B&Q growth to create 2,500 jobs

B&Q store expansion set to create 2,500 new jobs

BRITAIN'S biggest DIY chain, B&Q, is to create 2,500 jobs in the next year through new store openings.

Bomb-making cache found in warehouses

POLICE WERE questioning a utility worker in San Francisco after finding bomb-making materials, including "ready-to-go explosives" and raw materials similar to those used in the Oklahoma City bombing, hidden in two warehouses.

Allied to sell Carpetland for pounds 14m

ALLIED CARPETS, the beleaguered warehouse group, is today expected to announce the sale of Carpetland, its poorest-performing subsidiary, to rival Carpetright for pounds 14m. Allied put itself up for sale in September and has held a number of meetings with potential buyers.

Size does matter in DIY sector

Analysis: Almost 100 B&Q Warehouses are to be opened. The market is stirred. Will it be shaken?
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