Debenhams and Arcadia are believed to be the front-runners in buying-out
Icelandic-backed fashion house Principles.
Mosaic – which owns a 49% stake in Baugur, confirmed several potential
backers have expressed interest in the Principles brand, according to
Mosaic said: ‘Mosaic Fashions has received several approaches to sell the
Principles business and is considering these within the scope of the
restructuring discussions. There is no intention to split up the group further.’
Debenhams’ interest is thought to stem from its desire to attract a greater
margin on its in-store Principles concessions.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies