Ted Baker to offer HR training as sexual harassment investigation concludes. Ted Baker (TED) is to review its HR policies and offer employee training following an investigation into allegations of inappropriate behaviour, including unwanted “hugging” of employees, by founder and former chief executive Ray Kelvin. The fashion retailer said it would not be making any comment on the specific allegations against Mr Kelvin, who left the company last month. Mr Kelvin has denied all allegations of misconduct. The findings of an investigation into the company’s policies and its handling of employee grievances will not be made public.
WH Smith strikes rent-free deals on some high street shops. WH Smith (SMWH) is paying no rent on about 20 of its shops, its boss has revealed, in the latest sign of turmoil on the high street. Stephen Clarke, chief executive of the stationery chain, remarked that there was a shift away from the decades-long trend of ever-increasing rents for retailers as a number of struggling rivals had fallen into administration or were scrambling to shut shops through company voluntary arrangements. “How times have changed,” he added. WH Smith, which has 578 shops across the UK, had no major closure plans but would close stores if deals to make them profitable could not be struck, Mr Clarke said. Last year it announced plans to shut six stores.
Stagecoach Group (SGC) – Virgin Trains off the rails as two operators barred from franchise bids. Britain’s railways faced a deepening crisis after a second major train operator was barred from bidding on franchises as part of a clash between industry and the Government over pensions. The Telegraph can reveal that Arriva, the rail and bus operator backed by German behemoth Deutsche Bahn, submitted a “non-compliant” bid for the East Midlands rail network and was excluded from the process. The decision raises further questions about the sustainability of the rail franchising system. Arriva has already been put up for sale as its owners seek an exit from the difficult British market.
Sports Direct threatens to sue Debenhams administrators and directors. has attacked Debenhams (DEB) administrators at FTI and demanded they resign or reverse the administration in Mike Ashley’s latest salvo against the defunct department store chain. Chris Wootton, deputy finance chief of Mike Ashley’s firm, also claimed Sports Direct was considering legal action against Debenhams’ directors over shareholder losses. Sports Direct and other investors were wiped out after Debenhams fell into the hands of a group of hedge funds and lenders on Tuesday in a pre-pack administration. Mr Ashley had attempted to derail the pre-pack several times with various offers to provide a loan, buy its Danish business for £100m and underwrite a £200m rights issue.
G4S shares soar on takeover talk by Canadian rival. Aformer professional baseball umpire who built what claims to be the world’s largest privately-owned security company has taken a swing at G4S (GFS) with a potential takeover bid worth at least £3bn. GardaWorld, controlled by French-Canadian entrepreneur Stephan Crétier, confirmed reports on Wednesday it was in “the preliminary stages of considering an approach” to G4S about a “possible” cash offer for some or all of the company, sending its shares soaring out of the park. Mr Crétier, who is from Montreal but now lives in Dubai, founded GardaWorld in 1995 with a C$25,000 second mortgage on his home.
Dunelm defies retail slowdown with sales surge. Dunelm Group (DNLM) has bucked the high street trend by posting better-than-expected third quarter results and raising its profit guidance for the year. The home furnishings retailer now expected annual pre-tax profit to be slightly ahead of the highest analyst estimates of £115.6m to £118.5m. Total group sales rose 6.1% in the latest three months to £284.5m, with like-for-like sales jumping 9.8% to £225.9m. A 32% rise in online sales more than offset the loss of revenue from the Worldstores, Kiddicare and Achica websites, which were closed earlier in the financial year as it sought to streamline its offering under one brand. Closing the sites also improved margin and sourcing.
Sweden’s Wallenberg family eyes £3.5bn bid for Kantar. One of Sweden’s most powerful business dynasties is considering a multi-billion dollar bid for Kantar, the consumer research business being sold by WPP (WPP) following Sir Martin’s Sorrell’s departure last year. EQT, one of Europe’s biggest buyout funds that is backed by the wealthy Wallenberg family, is one of a handful of funds circling Kantar in a sale expected to fetch up to £3.5bn ($4.6bn), sources said. The Wallenbergs, who once owned nearly half of the companies listed on the Stockholm stock market, manage assets worth about $37bn through their holding company, including major Swedish multinationals such as networking giant Ericsson and SEB, the biggest Nordic bank.
Questor: this trust’s holdings have grown at an average of 40pc but its discount is 30%. Questor investment trust bargain: Oakley Capital Investments Ltd. (DI) (OCI) has great access to promising private firms but a mistake it made two years ago is still hitting sentiment
