Philip Day news and archive

Philip Day seeks valuation of Peacocks

Retail tycoon Philip Day is reportedly launching a valuation process for discount retail chain Peacocks. The Sunday Times reported that Day appointed advisory firm FRP to find potential buyers for Peacocks and Edinburgh Woollen Mill, though sources close to the matter have stressed the process is merely a valuation and only concerns Peacocks. If...

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Philip Day makes takeover offer for Jack Wills

After Bonmarche, Philip Day has said to have made a takeover offer to acquire struggling fashion retailer Jack Wills, reports Retail Gazette. After the company’s private equity owner BlueGem began looking for a buyer at the beginning of this month, Mike Ashley’s Sports Direct, Crew Clothing and Ben Sherman parent company Marquee Brands as well...

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Bonmarché to be delisted as Philip Day secures 93 percent of shares

Sir Philip Day’s Dubai-based investment firm Spectre Holdings has announced it will be delisting Bonmarché from the London Stock Exchange after it secured 93 percent of shares in the womenswear retailer. Day’s firm said that by 12 July, the deadline for its takeover offer, it either owned or had received valid acceptances under the offer in...

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Bonmarché execs sell shares to Philip Day

Top execs from Bonmarché have sold their stakes to Edinburgh Woollen Mill owner Philip Day just weeks after the UK retailer advised shareholders to ignore his takeover bid. Chief executive officer Helen Connolly, chief financial officer Stephen Alldridge, and senior independent non-executive director Ishbel Macpherson have all sold their shares...

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After poor Q1, Bonmarché urges shareholders to accept Philip Day's offer

After poor trading in the first quarter of the new financial year, Bonmarché Holdings Plc has asked the company’s shareholders to accept mandatory cash offer of 11.445 pence per share from Spectre Holdings Limited. The company said in a statement that first quarter was challenging primarily due to continued weakness in the underlying clothing...

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Bonmarché rejects Philip Day's takeover offer

Bonmarché’s board of directors have urged shareholders to reject a takeover bid made by Edinburgh Woollen Mill owner Philip Day. Last month, Day bought a new stake in Bonmarché via his Dubai-based investment firm, Spectre, giving him a 52.4 percent in the retailer, and by doing so triggered a mandatory takeover bid. At 11.445p per share, the...

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Bonmarché says Philip Day takeover offer 'undervalues' retailer

Bonmarché has said that a takeover bid made by Edinburgh Woollen Mill owner Philip Day “materially undervalues" the retailer and "its future prospects.” Earlier in April, Day bought a 52.4 percent stake in the retailer via his Dubai-based investment vehicle, Spectre, triggering a mandatory takeover bid for the company. At 11.445p per share, Day’...

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Philip Day makes 5.7 million pound offer for Bonmarché

Edinburgh Woollen Mill (EWM) owner and CEO Philip Day has tabled a takeover bid for UK fashion retail chain Bonmarché in a deal that values the company at 5.7 million pounds. The billionaire businessman has bought a 52.4 percent stake in the retailer via his Dubai-based investment vehicle, Spectre, meaning a mandatory takeover bid has been...

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Philip Day withdraws from LK Bennett bidding race

British retail mogul Philip Day has withdrawn from the race to acquire UK fashion and accessories brand LK Bennett after it fell into administration in March. The British billionaire and owner of the Edinburgh Woollen Mill Group (EWM) reportedly submitted a last-minute bid for the retailer with administrators at EY on March 25, just hours before...