Carpetright rival to unroll fresh cash call to investors. Tapi, the flooring retailer backed by Carpetright (CPR) founder Lord Harris of Peckham, is expected to launch a fresh cash call in the coming months as the battle with its arch-rival intensifies. It is understood that the chain will turn to its existing investors and employees, who own shares in the retailer, to raise millions of pounds before April and support the company’s growth in a torrid retail market. Tapi, which made a loss of £11m last year, counts British textile manufacture Sir Harry Djanogly and DFS founder Lord Kirkham as backers. Lord Harris and his son Martin started the business with the money raised from selling their Carpetright shares.
Turbulence continues for Flybe Group (FLYB) as it faces pressure to axe chairman. Troubled airline Flybe is braced for another turbulent week after its largest shareholder demanded the sacking of its chairman. Hosking Partners, a London-based asset manager that owns almost a fifth of Flybe’s shares, wrote to the low-cost airline’s board on Friday calling for an extraordinary general meeting (EGM) aimed at removing City stalwart Simon Laffin, who has been in the role since 2013. Confirming the move, a Flybe spokesman said the board “continues to have full confidence in its chairman” but was considering the letter.
Questor: Synthomer (SYNT) bosses may not have managed Ineos-style growth but the stock is a buy. Unable so far to strike transformative deals, Synthomer’s top team are content for the moment to get more out of their existing assets
