The demise of struggling retailer Homebase is one of the main topics of coverage for the nationals this morning. The DYI chain has fallen into administration on Wednesday, putting 49 shops and 2,000 jobs at risk, the Financial Times reports.
According to The Telegraph, a retail tycoon nicknamed the “Del Boy billionaire” is on the cusp of a deal to rescue as many as 70 Homebase stories – Chris Dawson, who owns and runs The Range homeware outlets, is expected to strike a deal with Homebase’s administrators Teneo that could preserve nearly 1,600 jobs across the country, the paper claims.
Another blow for Asda as it lost market share again shortly after Morrisons poached its top buyer, according to The Times. Referencing NIQ data, the paper reports the supermarket giant has fallen behind rivals over the past 12 weeks as it struggles with debt and a new chief executive search.
Another big M&A move will see Amsterdam-based firm Just Eat Takeaway sell its US arm, Grubhub, at a loss of more than $6.5bn. The Guardian reports Just Eat will offload its unit to fast casual restaurant chain Wonder – led by the former Walmart executive Marc Lore – for $650m, four years after buying it for a whopping $7.3bn.
“Most TV ads” for HFSS products including sweets and crisps that are shown before the 9pm children’s viewing watershed are placed by companies who claim not to promote to that age group, research by the University of Liverpool claims. The Guardian reports academics found food giants such as Mars, Haribo and PepsiCo are in “flagrant” breach of their own codes of behaviour.
Still on the impacts of the Autumn Budget on hospitality, the FT reports that small UK pub owners are now looking overseas as Reeves’ tax rises threaten profits. Multiple smaller pub or hostel operators in Britain are considering closing sites, cancelling expansion investments or diverting spending internationally due to higher employment costs.
Finally, a £30 Despicable Me-inspired “fart blaster” toy that can make 15 different sounds and a waddling mother duck are among the toys set to top Christmas lists as experts predict a “record-breaking” year for sales, according to The Guardian.
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