|Bid||30.07 x 0|
|Ask||31.09 x 0|
|Day's range||30.90 - 31.10|
|52-week range||22.64 - 37.87|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The parent company of the teachers' bible, the Times Education Supplement, is to be broken up and sold off by its private equity backers. Sky News has learnt that TPG Capital, the American private equity firm, has hired investment bankers from Macquarie Capital to orchestrate the disposal of TES Global's higher education division (THE). The unit includes Times Higher Education, the weekly magazine which reports on news and issues related to the post-18 education sector.
Bargain retailer Poundworld has crashed into administration putting 5,100 jobs at risk after last-ditch rescue talks failed. The collapse, confirmed on Monday after it was first reported by Sky News , was blamed on the "extremely challenging" retail environment. Deloitte, which had been coordinating efforts to find a solvent deal, will oversee the administration process for the business, which is based in Normanton, West Yorkshire.
More than 5,000 high street jobs will be thrown into fresh doubt on Monday when Poundworld crashes into administration following the failure of last-ditch rescue talks. Sky News has learnt that the bargain retailer is set to become the biggest chain by number of employees this year to fall into insolvency, just over three months after the same fate befell Maplin and Toys R US UK. Deloitte, which has been co-ordinating efforts to find a solvent deal for the business, is expected to oversee the administration of Poundworld.
British discount retailer Poundworld has fallen into administration, a form of creditor protection, administrator Deloitte said on Monday, becoming the latest victim of brutal trading conditions on the ...
A former owner of Little Chef is trying to cook up a last-ditch rescue deal for Poundworld amid increasingly bleak prospects for the bargain retailer and its 5,300 staff. Sky News has learnt that Rcapital has been holdings talks with TPG Capital, Poundworld's owner, for the last 48 hours even as the company prepares to begin a legal process paving the way it to fall into administration. Sources said that Rcapital had entered the fray even as rival turnaround firm Alteri Investors had pulled out of rescue talks with Poundworld.
The leading contender to take control of Poundworld has ended talks about a rescue deal, casting fresh doubt over the future of the struggling high street retailer and its 5,300-strong workforce. Sky News has learnt that Alteri Investors, which specialises in backing troubled chains, pulled out of negotiations with Poundworld's owners and advisers within the last 24 hours. Alteri's withdrawal came just days after it had looked poised to clinch a takeover of the chain that would have preserved thousands of jobs despite a proposal to axe more than 100 stores.
British discount retailer Poundworld is close to a rescue deal with Alteri Investors, Sky (Amsterdam: BK8.AS - news) News reported on Saturday (Shenzhen: 002291.SZ - news) , with the deal likely to be announced next week. Private equity (IOB: 0QLS.IL - news) group TPG (Taiwan OTC: 6521.TWO - news) put Poundworld up for sale after receiving expressions of interest, prompting it to put a planned restructuring of the group on hold, a person familiar with the matter said last month. Sky (Frankfurt: 893517 - news) said the new owners would restructure Poundworld after the deal, which would lead to the closure of more than 100 Poundworld shops and the loss of about 1,500 jobs.
A former owner of Austin Reed is closing on a rescue deal for Poundworld, the troubled bargain retailer, at the start of a month which could determine the future of more than 20,000 high street workers. Sky News has learnt that Alteri Investors, which is backed by the private equity giant Apollo Management, is finalising the terms of a takeover of Poundworld. A deal could be struck for a nominal sum with TPG (Taiwan OTC: 6521.TWO - news) , Poundworld's current owner, and the retailer's lenders by the middle of next week, sources said on Saturday (Shenzhen: 002291.SZ - news) .
The fate of thousands more high street employees is in doubt this weekend after the owner of Poundworld ditched a rescue plan and put the discount chain up for sale instead. Sky News has learnt that TPG (Taiwan OTC: 6521.TWO - news) , the American private equity backer of Poundworld, has instructed Deloitte to find a buyer for Poundworld by the end of the month. The development comes less than a fortnight after it emerged that Poundworld was preparing to seek creditor approval for a plan to close up to 100 stores , threatening hundreds of jobs.
Private equity (IOB: 0QLS.IL - news) group TPG (Taiwan OTC: 6521.TWO - news) has put British discount chain Poundworld up for sale after receiving expressions of interest, prompting it to put a planned restructuring of the group on hold, a person familiar with the matter said on Saturday (Shenzhen: 002291.SZ - news) . Poundworld had been due to launch a restructuring to enable it to close some stores as it battles a tough retail environment, but the source said that process had now been put on hold while TPG considers possible bids. Poundworld says it serves over 2 million customers a week through its more than 350 stores around the country.
Hundreds of jobs are under threat at the discount retailer Poundworld as its owners draw up plans to close more than a quarter of its 355-store estate. Sky News has learnt that Poundworld is expected to announce proposals for a Company Voluntary Arrangement (CVA) during the first half of May, following similar moves by retailers such as New Look, Toys R Us UK and Carpetright (Other OTC: CGHXF - news) . House of Fraser has also brought in advisers to examine a similar move, as Sky News revealed last week .
The restaurant chain Prezzo plans to close up to one-third of its 300 outlets across Britain, putting hundreds of jobs at risk as it joins a growing list of high street employers locked in a desperate battle to restructure their finances. Sky News has learnt that Prezzo, which is owned by the private equity firm TPG Capital, is preparing to launch a Company Voluntary Arrangement (CVA) in the coming days in order to push through the radical overhaul. Sources said on Wednesday that the CVA process would be unveiled "in the next few days", and would involve negotiations with landlords to secure rent reductions at many of Prezzo's remaining restaurants.
One of the UK’s biggest discount retailers is lining up tens of millions of pounds in new funding from its controlling shareholder after tough trading and one-off costs saw it plunge into the red last year. Sky News has learnt that Poundworld is in advanced talks with TPG Capital, which took control of the company three years ago, about injecting between £30m and £40m in the coming weeks. The investment into the 355-store chain was positioned by sources close to TPG (Taiwan OTC: 6521.TWO - news) as a necessary step in the transformation of a family-run business into a nationwide retailer with the necessary infrastructure to support future growth.
Sky News has learnt that TPG Capital is preparing to open formal talks with Spotify about the terms under which a bond it holds alongside other investors would convert into shares in the music service. Under a deal struck last year, TPG (Taiwan OTC: 6521.TWO - news) and Dragoneer Investment Group, another fund, invested $1bn in the bond, which would convert into equity when Spotify launched an initial public offering (IPO) in New York.
A former owner of Weightwatchers looks to have outmuscled a shareholder in Aston Martin in the final stages of a race to buy Rapha, the premium cycling gear manufacturer. Sky News understands that Invus Group, which made a stellar return from its investment in the dieting brand, is leading a pack of bidders for Rapha, which is expected to command a price tag in the region of £200m. Invus and Investindustrial, an Italian private equity firm that is one of two big shareholders in Aston Martin, were two of the remaining parties in the auction of the privately owned cycling business.
A shareholder in Aston Martin, the luxury car marque, is turning its attention to another mode of transport by tabling a £200m takeover bid for Rapha, the premium cycling gear manufacturer. Sky News understands that Investindustrial, a private equity firm based in Italy, is on the final shortlist of bidders for Rapha. Private equity (IOB: 0QLS.IL - news) groups which had been part of the auction at an earlier stage, such as Advent International and TPG (Taiwan OTC: 6521.TWO - news) , had withdrawn from the process.
Backers of companies including Spotify, the music-streaming service, and the furniture retailer DFS are vying to get into the saddle with Rapha, the upmarket maker of cycling gear. Sky News understands that TPG (Taiwan OTC: 6521.TWO - news) and Advent International, the private equity groups, are among the bidders for Rapha, a popular brand among serious amateur riders. Initial bids were tabled for the privately owned business last month, and some of the offers are said to have valued it at close to £150m.
Blackstone (NYSE: BX - news) , the New York-based private equity giant, is preparing to swallow another multibillion-pound portfolio of loans owned by bailed-out British banks with an offer for a portfolio issued by Bradford & Bingley. Sky News has learnt that Blackstone has expressed an interest in a £6bn mortgage book that the Government plans to sell later this year. It comes just three months after Blackstone and Prudential (SES: K6S.SI - news) , the FTSE-100 insurance group, bought £11.8bn of B&B loans in one of the largest asset sales by a state-controlled lender since the financial crisis.