Reliance Retail will now operate Sephora in India as Arvind Fashions Limited (AFL) has signed definitive agreements with Reliance Beauty & Personal Care Limited (RBPCL) to sell its wholly owned subsidiary Arvind...
Drug retailer Rite Aid files for bankruptcy, gets $3.45 bln commitment
Rite Aid filed for Chapter 11 bankruptcy on Sunday, a move that would halt lawsuits the drugstore chain is facing over its alleged role in the U.S. opioid crisis and named a new CEO. Rite Aid said it has received a...
Future Retail lenders reject Space Mantra’s bid; NCLT extends insolvency period for 15 days
The lenders of Future Retail Ltd have rejected the bid submitted by Space Mantra for the debt-ridden firm, which is currently going through Corporate Insolvency Resolution Process (CIRP). The Resolution Plan submitted...
Future Retail’s creditors extend voting timeline on SpaceMantra’s bid to Sept 30
The Committee of Creditors (CoC) to Future Retail (FRL) have extended the voting period for the third time to decide the winning bidder to acquire the debt-laden company. The timeline has now been extended till...
Future Retail: NCLT extends deadline till September 15 for completing insolvency process
The National Company Law Tribunal (NCLT) has extended the deadline to September 15 for completion of the insolvency resolution process of debt-ridden Future Retail Ltd (FRL). The decision came on an application moved by...
UK discount retailer Poundland to buy up to 71 Wilko stores
British discount retailer Poundland said it would buy up to 71 Wilko stores and convert the collapsed homeware and household goods chain’s sites into its own brand. Poundland, which is owned by Warsaw-listed...
KKR to invest ₹2,069 cr in Reliance Retail, raise stake to 1.42%
Global investment firm KKR is set to raise its stake in Reliance Retail Ventures Ltd (RRVL) from 1.17% to 1.42% by infusing ₹2,069 crore through an affiliate. In 2020, KKR had invested ₹5,550 crore for the first time in...
Reliance Retail acquires majority stake in Alia Bhatt’s clothing brand Ed-a-Mamma
Reliance Retail Ventures Ltd. (RRVL) has signed a joint venture with Alia Bhatt’s clothing brand of kids and maternity wear, Ed-a-Mamma for a 51% majority stake. ET was the first to report on July 17 on the possible...
Dubai ruler investment vehicle weighs sale of 25% stake in fashion retailer Azadea
Dubai Holding, the investment vehicle of Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum, is weighing the sale of its minority stake in Azadea Group, which operates Inditex franchises in the Middle East...
Vote on Space Mantra’s Future Retail bid likely soon
Lenders to the debt-laden Future Retail (FRL) have put to vote the sole plan to take over the company by Space Mantra, promoted by former NBCC chairman Anoop Kumar Mittal, even as they are uncomfortable with the poor...
RIL may sell 8-10% more in Rel Retail ventures to fund expansion
Reliance Industries is likely to sell another 8-10% stake in Reliance Retail Ventures Ltd (RRVL) to fund expansion, retire debt and prepare for the initial public offering of the conglomerate’s retail business...
Future Retail resolution professional moves NCLT against Kishore Biyani and family alleging fraudulent tra
The Resolution Professional (RP) of Future Retail Ltd (FRL) has filed an application before the NCLT against Kishore Biyani, his brother Rakesh Biyani and eight other entities alleging their involvement in a...