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Hamleys £60m sale on the cards? Monday, 9th July 2012
Photo credit: Hamleys Group Ltd
Hamleys, one of Britain’s most iconic stores , is thought to be in talks with Groupe Ludendo, in a £60 million deal that could be signed by the end of the month.
According to The Sunday Times, Hamleys has caught the eye of the French toy maker, who runs a network of toy stores across France, Belgium, Switzerland and Spain.
Owned in majority by nationalised Icelandic bank Landsbanki, Hamleys has eight stores in the UK and Ireland, with sales of £43 million in the year to March 2011.
Gilt Groupe to lay off 5-6% of staff by next week Wednesday, 11th January 2012
Gilt Groupe has confirmed it will lay off 50 to 60 members of staff within the next seven days.
A source close to the company said 5-6 per cent of the firm will be let go in a number of its departments so the company can get to cash-flow break-even by its second quarter results.
The move reflects a new focus on efficiency and profitability. Previously, the company has emphasized growth--a strategy that allowed it to amass above USD 500 million in revenue and a USD 1 billion valuation in only a few years.
The source explained that it takes more people to set up new departments than it does to keep them running. Now that Gilt has established a number of businesses, like Park & Bond and Gilt Man, the hard work is complete.
Gilt will continue to hire, with the source confirming it will end this quarter with more employees than it started with.
Gilt Groupe to go public in 2012 Tuesday, 22nd November 2011
High-end flash sales site Gilt Groupe could become a public company as early as next year, at a time when the company will be close to generating USD 1 billion in annual sales.
“I think it’s entirely possible that in 2013, depending on the markets and depending on how things are going, that we would look to go public,” Kevin Ryan, chief executive of New York-based Gilt, told the Financial Times.
“We are certainly plenty big enough to go public. The question is, is it the right time, do you want to spend the time on that?” said Ryan. “We’d look at the process in 2012.”
Ryan added that an IPO is unlikely in the next nine months, as no meetings with advisers have been held, making a late-2012 debut would be the “earliest” possible time for an offering.