Issue 2019 March 12th

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    Debenhams cries foul over Sports Direct move

    UK department store chain Debenhams has called on the competition watchdog to intervene in an attempted boardroom coup by the Sports Direct and House of Fraser boss, Mike Ashley. Ashley used a stock market announcement to call a Debenhams shareholder meeting to oust nearly all the company’s directors and install himself as chief executive. The [...]
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    Retail can continue to navigate turbulence in European markets

    According to M&G Real Estate’s latest UK Outlook, the retail sector, though some parts of the market are facing weak occupier demand and rental growth, other parts are weathering the current turbulence. Well-located ‘destination’ retail parks and shopping centres with supportive demographics that can benefit from click and collect services continue to perform. Quality remains [...]
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    EY searches for buyer for UK retailer LK Bennett

    The upmarket fashion chain LK Bennett has collapsed into administration, putting 500 jobs at risk, after its owners failed to find a new financial backer to keep it afloat. The UK company, which famously counts the prime minister and Duchess of Cambridge among its customers, has appointed accountancy firm EY to manage the administration of [...]
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    Finnish pension specialist takes up stake from URW in Jumbo

    Finnish pension insurance company Elo has doubled its stake in a Helsinki shopping centre to 70%, following a deal with Unibail-Rodamco-Westfield (URW) worth almost a quarter of a billion euros. The €22.6bn Finnish investor said it has become a majority shareholder in the Jumbo shopping mall, by acquiring URW’s entire 34% stake for €248.6m. Timo [...]
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    Romanian retail portfolio acquired as sales growth strengthens

    MAS Real Estate has entered into a sale and purchase agreement with PKM Developments, a joint venture established together with Prime Kapital, to acquire a portfolio of retail centres in Romania for circa €113m. The deal allows the company to enhance its footprint in CEE, it said of the acquisition. The portfolio comprises Roman Vale Centre, an [...]