Kishore Biyani’s Future Group has approached private equity (PE) firms, including its existing investor Blackstone, as it tries to reduce debt and keep control of group companies, two people aware of the development...
Amazon, Future Group in talks over sale of stake in Future Retail
Kishore Biyani-led Future Group has started talks with Amazon for selling stake in Future Retail Ltd to the US-based e-commerce major, industry sources said. The two parties initiated talks earlier this week for a stake...
UK watchdog orders JD Sports to sell Footasylum
Britain’s competition watchdog on Wednesday made good on its threat to order JD Sports to sell Footasylum, saying the sportswear retailer’s 86 million pound ($106 million) takeover of its smaller rival left shoppers...
Lord & Taylor to liquidate its stores as soon as they reopen – sources
Venerable U.S. retailer Lord & Taylor plans to liquidate inventory in its 38 department stores once restrictions to curb the spread of coronavirus are lifted as it braces for a bankruptcy process from which it does...
Banks scout buyers for Future Retail stake after Biyani’s loan default
Banks, which have significant exposure to both Future Retail (FRL) and its promoters, are nudging the company to go for an all-stock merger with an existing retail player. The move has been expedited after its promoter...
L Brands files complaint against Sycamore for backing out of Victoria’s Secret deal
L Brands Inc filed a legal complaint against Sycamore Partners on Thursday, after the buyout firm walked away from a $525 million deal to acquire a majority stake in the company’s Victoria’s Secret lingerie brand. The...
Abu Dhabi Sheikh acquires 20% stake in Grocer LuLu, invests $1 billion
An investment firm backed by a member of Abu Dhabi’s royal family agreed to buy a stake worth just over $1 billion in LuLu Group International, which runs one of the West Asia’s largest hypermarket chains, according to...
WhatsApp, Reliance Retail ink pact to boost JioMart
Reliance Retail and WhatsApp have entered into a commercial pact to accelerate Reliance Retail’s JioMart platform by connecting nearby ‘kirana’ shops to customers, enabling home delivery over...
Ecommerce cos, kirana stores tie-up to maintain essentials’ supply
The government is keen on eCommerce companies tying up with Kirana stores to maintain the supply of essential goods and ensure that people do not step out of their houses to buy essentials during the extended nationwide...
J.C. Penney explores bankruptcy as hopes for recovery fade – sources
J.C. Penney Co Inc is exploring filing for bankruptcy protection after the coronavirus pandemic forced the U.S. retailer to temporarily shut its 850 department stores, upending its turnaround plans, according to people...
Flipkart enters into a partnership with Spencer’s Retail to expand essentials business
Walmart-owned Flipkart and Spencer’s Retail is entering into a partnership whereby the Kolkata-based food and grocery retail chain will become a seller in the marketplace for fast moving consumer goods and essentials, a...
Walmart puts partial sale of UK’s Asda on hold due to coronavirus crisis: source
Walmart, the world’s largest retailer, has put the possible sale of a majority stake in its British supermarket arm Asda on hold until the coronavirus crisis is over, said a person familiar with the situation. The U.S...
