Frasers Group drops out of Revolution Beauty race
Revolution Beauty launched its formal sales process last month after receiving a preliminary takeover offer for its entire issue and to be issued share capital from an unnamed party.
Interested bidders could submit their interest by June 11, with it emerging that Frasers was among 'a number of parties' to have done so.
Revolution Beauty noted Frasers' latest announcement in its own statement, adding that it 'continues to have constructive engagement with a number of other interest parties', yet there was 'no certainty that an offer will be made'. The company is also continuing to discuss options with its shareholders, including a potential equity raise.
Frasers' initial pursuit was notable given that Revolution Beauty's largest shareholder is Debenhams Group, formerly Boohoo Group, a long-standing rival of Mike Ashley's conglomerate, which had attempted to takeover the fast fashion giant amid its restructuring last year.
Debenhams, which owns a 27.09 percent stake in Revolution, had assigned its own board member, Iain McDonald, to oversee the beauty brand's sales process.
The Boohoo parent company enacted a boardroom takeover of Revolution back in 2023 following an investigation into the brand's financial results, which revealed a nine million pound inflation of sales.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Scottish Sun
23 minutes ago
- Scottish Sun
Rare UK coin with Queen's portrait to enter circulation for last time – and it could be worth 95 times its face value
Plus, we share how you can spot a rare coin ALL CHANGE Rare UK coin with Queen's portrait to enter circulation for last time – and it could be worth 95 times its face value THE final batch of £1 coins featuring the late Queen Elizabeth II's portrait will enter circulation for the last time - and they could be worth a pretty penny. More than 23million of the coins are being released today, Wednesday August 20 by the Royal Mint has said. 1 The £1 are entering circulation That means you could spot one in your change in the coming weeks. These pieces will be the final ones bearing Elizabeth II's portrait to enter circulation. Plus, the Royal Mint said these coins dated 2022, are the rarest £1 coins in active circulation. If you are keen to spot the coin, there are a few details you can spot. The front, or heads side, of the coin features a portrait of the late Queen Elizabeth and the date 2022. While the reverse, or tails side, features an image of a crown with an English rose, Scottish thistle, Welsh leek and Northern Irish shamrock. The coin joins a raft of other rare £1 pieces, including the 2011 Edinburgh City coin that has sold for 95 times its face value. These coins have a mintage of just 935,000, making it a rare find. Back in June, the coin sold for £23 on eBay after 21 bids. The coin was part of a series depicting the four capital cities of the UK and is the only £1 coin with a mintage below one million. Five 50ps that could earn you thousands In comparison, a recent bidder paid £7.53 for one of the coins after fighting off bids from five others. But coins are only worth what sellers are willing to pay for them. So another piece may sell for a higher or lower price later down the line. It comes as the official maker of UK coins is also set to release 7.5 million new King Charles III £1 coins. The 50p and £1 are the only denominations with Charles's portrait to have entered circulation so far. The King's £1 coins feature an intricate bee design on the reverse and are part of the Definitive collection, inspired by the flora and fauna of the British Isles. Rebecca Morgan, director of commemorative coin at the Royal Mint, said: 'This release represents a pivotal moment in British coinage history. 'As we release more of the King Charles III £1 coins into circulation alongside the final coins of Queen Elizabeth II, we're witnessing the physical representation of our monarchy's transition." She added: "This dual release creates an exceptional opportunity for both seasoned numismatists and those new to coin collecting.' 'Finding these new coins in your change could spark a rewarding hobby that connects you with the heritage, history and craftsmanship behind British currency.' And that is not the only rare coin that collectors are keen to get their hands on. The Kew Gardens 50p recently fetched £205 on eBay after 29 buyers battled it out for the piece. Other rare coins to keep an eye out for are the Atlantic Salmon 50p, How to spot rare coins and banknotes Rare coins and notes hiding down the back of your sofa could sell for hundreds of pounds. If you are lucky enough to find a rare £10 note you might be able to sell it for multiple times its face value. You can spot rare notes by keeping an eye out for the serial numbers. These numbers can be found on the side with the Monarch's face, just under the value £10 in the corner of the note. Also, if you have a serial number on your note that is quite quirky, you could cash in thousands. For example, one seller bagged £3,600 after spotting a specific serial number relating to the year Jane Austen was born on one of their notes. You can check if your notes are worth anything on eBay, just tick "completed and sold items" and filter by the highest value. This will give you an idea of what people are willing to pay for some notes. But bear in mind that yours is only worth what someone else is willing to pay for it. This is also the case for coins, you can determine how rare your coin is by looking a the latest scarcity index.
Daily Mirror
23 minutes ago
- Daily Mirror
Worrying number of pubs and restaurants that have put prices up revealed
Tax increases announced by Labour to tackle a hole in the public finances have led to price increases and job cuts throughout the hospitality sector, say bosses, as they called for help from the Chancellor Nearly eight out of 10 pubs, restaurants and others have upped prices as a direct result of government triggered cost increases, research has revealed. More than half of hospitality firms questioned said they had also cut staff numbers since April's increase in employers' national insurance and the minimum wage. Labour Chancellor Rachel Reeves insisted tax increases were needed to try to plug a hole in the public finances left by the Tories. The results come as trade bodies joined forces to urge Labour to ease the pressure on the sector, amid fears of worse to come. Industry chiefs say April's increases have added £3.4billion a year to costs, and resulted in 84,000 jobs being lost since last year's autumn Budget. The British Institute of Innkeeping, the British Beer & Pub Association, UKHospitality and Hospitality Ulster came together to make a fresh plea. In a joint statement, they said: 'This shocking data reinforces the urgent need for government to recognise the incredible pressure hospitality businesses have been put under, particularly since April, and illustrates why it should come forward with measures to support this vital sector at the Budget. 'Unsustainable tax increases are squeezing businesses, stifling growth and investment, and threatening local employment, especially for young people. It is forcing businesses across the sector to make impossible decisions to cut jobs, put up prices, reduce opening hours and sadly limit the support they desperately want to give their communities. 'Hospitality is united in which measures will reverse this trend and drive growth: a reduction in VAT for hospitality, changes to employer NICs and permanently lower business rates for the sector. Now is the time to act and back a vital British sector that supports the economy, jobs, and local communities. We urge the Government to do so at the Budget this autumn.' It follows recent figures showing nearly five pubs were lost for good across Britain every week in the first half of this year, with more than 600 standing empty long term. It takes the number of pubs that have closed since 2016 to almost 5,000, according to data from the Campaign for Real Ale (Camra). There have also been warning about the impact of tax rises on the high street too. The number of high street firms going bust is on track to surge by more than a quarter this year, experts have warned. The latest casualty is Claire's Accessories, which has gone into administration, threatening more than 2,000 job losses. Bargain chain Poundland has also announced a number of store closures. Industry experts Kroll said: 'Our data suggests that at current levels, there will be a 25% increase in retail failures year-on-year.' Latest data also suggests a rise in private schools going under after the government added VAT to fees. However, figures from the Insolvency Service showed only a small rise in business failures despite tax rises and the weak state of the economy. Official data showed there were 2,081 company insolvencies in England and Wales in July, edging up by 1% compared with June. Experts said firms are being challenged by 'relentless uncertainty' in the global economic environment. Simon Edel, UK turnaround and restructuring strategy partner at EY-Parthenon, said: 'Many businesses are also contending with higher costs including recent increases to employer national insurance contributions and the national living wage. "With interest rates still relatively high - alongside significant working capital demands and a constrained credit environment - liquidity pressures are intensifying for more UK companies. This is causing more businesses to call time.' A government spokesperson said: 'Our Plan for Change recognises the vital importance of pubs, cafes and restaurants to local communities. 'That's why we're cutting the cost of licensing, helping more pubs, cafes and restaurants offer pavement drinks and al fresco dining and extending business relief for these businesses - on top of cutting alcohol duty on draught pints and capping corporation tax.' The government has said small businesses will not see a rise in National Insurance Contributions (NICs) and that any rise in NICs will help pay for the NHS.
Western Telegraph
an hour ago
- Western Telegraph
Last batch of rare final Queen Elizabeth II £1 coins entering circulation
More than 23 million Queen coins are being released alongside 7.5 million new King Charles III £1 coins. The Royal Mint said the last of the Elizabeth II coins, dated 2022, are the rarest £1 coins in active circulation. The late Queen died in 2022 but her coins remain in circulation (Victoria Jones/PA) The historic transition – with the dual release of almost 31 million coins – represents a significant moment for UK coinage, as the nation witnesses the changeover from Britain's longest-reigning monarch to her son and heir on the £1 denomination, the Royal Mint said. The Queen's £1 coins will be the final ones bearing Elizabeth II's portrait to enter circulation. Rebecca Morgan, director of commemorative coin at the Royal Mint, said: 'This release represents a pivotal moment in British coinage history. The reverse side of the new Queen Elizabeth II £1 coin (Royal Mint/PA) 'As we release more of the King Charles III £1 coins into circulation alongside the final coins of Queen Elizabeth II, we're witnessing the physical representation of our monarchy's transition. 'This dual release creates an exceptional opportunity for both seasoned numismatists and those new to coin collecting.' The Royal Mint is encouraging the public to check its change over the coming weeks, as the new coins begin to appear in pockets and tills across the nation. The King Charles III £1 coins in production (Royal Mint/PA) Ms Morgan added: 'Finding these new coins in your change could spark a rewarding hobby that connects you with the heritage, history and craftsmanship behind British currency.' Since the introduction of the King's effigy on UK coinage in 2023, the 50p and £1 are the only denominations with Charles's portrait to have entered circulation so far. The King's £1 coins feature an intricate bee design on the reverse and are part of the Definitive collection, inspired by the flora and fauna of the British Isles. Some 2.975 million £1s with the King's effigy were released in August last year. The King Charles III coins being struck at the Royal Mint (Royal Mint/PA) In total, there are around 24.7 billion coins in circulation across the UK, with the King's coins representing only around 0.004% of those, making his new coins highly desirable to collectors. All UK coins bearing the Queen's portrait will remain legal tender and in active circulation to allow a smooth transition and minimise the environmental impact and cost.
