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News

Marks & Spencer has joined retailers trying to lure shoppers on to the high street before Christmas with plans for a flash sale across its stores tomorrow.

Lifestore faces axe as Green plots fresh offer for Marks & Spencer

Stuart Rose, the new chief executive of Marks & Spencer, is preparing to ditch Lifestore, the retailer's ill-fated foray into stand-alone homeware stores.

Rose in line for £2m pay-off if Green bid for M&S succeeds

Stuart Rose, the new chief executive of Marks & Spencer, will be entitled to a £2.1m pay-off if Philip Green's bid for the retail chain succeeds.

M&S calls in Rose to defend hostile bid

Chairman and chief executive ousted. Non-executives lost confidence in Roger Holmes two weeks ago

Stuart Rose favourite for M&S job

Stuart Rose, the former boss of Arcadia, yesterday emerged as the frontrunner to become Marks & Spencer's next chairman as the troubled retailer confirmed that Luc Vandevelde was stepping down.

The Investment Column: Booker

WHO WOULD have thought it? Booker, that dull old cash and carry business, is trying to become an Internet stock. That was the implication of its announcement yesterday that Booker plans to use its huge distribution and warehouse capability to offer a delivery service to online partners.

Books: A runaway juggernaut

Emma Cook talks to Booker Prize survivors about the literary event nobody can dent

Outlook: Allied Carpets

A FULL-BLOWN carpet auction finally seems in prospect. Allied Carpets, the loss-making retail struggler, has bidders queueing at its door. Three would-be buyers have so far declared their hand and, if the company's propaganda machine is to be believed, there are more waiting in the wings.

Parliament & Politics: The Sketch - Pilot schemes scramble to attack yawns at four o'clock

GETTING THROUGH education and employment questions is a bit like tackling an arduous ice-climb. You need artificial aids if you are not to lose your grip on the almost frictionless surface and slither, in one long accelerating glissade, until you crunch fatally into business questions at the bottom. I had a couple of nasty falls yesterday, and found myself suddenly brought up short by the safety rope, wondering where I was. But in the end, with the help of the crampons of fantasy and the trusty ice- axe of idle speculation, I made it.

Booker sells food services for pounds 125m

BOOKER, THE debt-laden cash & carry group, has agreed to sell its food service operations to a South African group, Bidvest, for pounds 124.7m. Booker will book a pounds 50.5m loss on the deal and there will be an exceptional charge of pounds 98m to the accounts in the current year to cover a goodwill write-off, writes Nigel Cope.

Panel dismisses GUS complaints against Argos

THE TAKEOVER PANEL yesterday unanimously dismissed the remaining complaints registered by Great Universal Stores regarding claims made by the former Argos team during its successful pounds 1.9bn bid for Argos last year.

City takes fright at pounds 23m Booker charge

BOOKER, the debt-laden cash-and-carry business, is cutting 600 jobs and taking an exceptional charge of pounds 23m as part of a deal to sell its food distribution division. The company is selling Booker Wholesale Foods (BWF) to food wholesaler Palmer & Harvey for a knock-down pounds 4.4m as it strives to reduce its pounds 650m debt mountain.

Takeover Panel throws out GUS appeal

THE TAKEOVER Panel yesterday unanimously dismissed an appeal by Great Universal Stores relating to its successful pounds 1.9bn bid for Argos last year.

Football: Robinson times it right for Wolves

Wolverhampton Wanderers 2 Sheffield United 1
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