Owner of Argos and Homebase buys Habitant brand and flagship London stores – but rest of UK chain goes into administration The owner of Argos has bought the Habitat brand in the UK and its three top London stores for £24.5m but the rest of the UK chain has been placed in administration as part of a major restructuring that could result in more than 700 job losses. Home Retail Group chief executive Terry Duddy said it had bought the rights to the furniture and accessories brand and the Habitat website but just three of its 33 stores. He said only 150 of its 900 staff, including 50 from its 194-strong head office including the design team, would move over to work for the group, which also owns Homebase. Restructuring firm Zolfo Cooper has been appointed to find buyers for the 30 unwanted stores which will continue to trade as usual. The company said all existing orders and all customer deposits were fully protected. Duddy promised to preserve the integrity of the retailer which was started in the 1960s by design guru Sir Terence Conran as an antidote to the austere furniture aesthetic of postwar Britain. “There is no value in us doing anything to undermine this brand; it is about preserving its integrity,” he said. The Habitat brand with its “style-led credentials” and “strong heritage” was, he said, a significant addition to the group’s portfolio of brands, which include Schreiber, Hygena, Alba and Bush. Duddy said he did not know whether the deal had the blessing of Conran but said the design team was in contact with the founder recently and those conversations had been positive. Habitat has struggled financially for many years: the shops were a breath of fresh air when they arrived on the high street, but its clever designs were mimicked by cheaper rivals and, by the late 1980s, it was in financial difficulties. It was owned by Sweden’s wealthy Kamprad family, whose patriarch Ingvar founded Ikea, for nearly 20 years, but even their expertise could not revive its fortunes and they paid restructuring firm Hilco a multimillion pound dowry to take the loss-making business off their hands in December 2009. In the most recent set of accounts filed at Companies House, Habitat made a loss of £18.7m on sales of £74.3m in the year to March 2009. Hilco said trading conditions remained challenging for retailers of big-ticket items such as furniture. “Significant progress has been made reducing losses and refining the product mix following the installation of a new management team,” it said. “However, a return to profitability for the business in the UK appears unlikely in the near term as many of the stores are expensive and poorly located for a furniture retailer.” Home Retail is buying three London stores which are on the capital’s prime furniture shopping streets: Kings Road, Tottenham Court Road and Finchley Road. It plans to open about 25 Habitat departments in Homebase stores and has not ruled out selling the brand through the Argos catalogue. The company said it expected Habitat to deliver a small loss in its first year but then move into profit. Hilco said it was in advanced talks with a major European listed business to sell Habitat’s profitable European arm, which has 27 stores across France, Spain and Germany. Home Retail Retail industry London Zoe Wood guardian.co.uk
Continue reading …Tesco cuts 3p from a litre of petrol and diesel after move to open up emergency reserves by the International Energy Agency Tesco has cut its fuel prices following a big fall in the cost of oil internationally . The supermarket slashed 3p off a litre of petrol and diesel following the opening of emergency reserves by the International Energy Agency (IEA). Tesco UK chief executive Richard Brasher said: “We know our customers are feeling the pinch at the moment, so we want to pass on the benefit of a fall in oil prices straight away.” The Tesco move will offer some respite to motorists who have seen average prices at the pumps soar to around 136p a litre for petrol and almost 140p a litre for diesel. AA president Edmund King said: “We welcome this rapid 3p reduction in fuel prices. Earlier this week the AA revealed that high fuel prices are now affecting a record three-quarters of drivers who are having to cut back on journeys, cut back on other expenditure, or cut back on both. “Reduced fuel prices will help the general economy to recover as lower prices at the pumps means more spending elsewhere.” Crude prices slumped by $6 a barrel after the IEA, whose 28 members include Britain and America, unveiled plans to release 2m barrels a day for a month from its emergency reserves to counter shortages created by the conflict in Libya. Sainsbury’s said it would be cutting fuel prices by up to 3p a litre from midnight on Friday. A spokesman for the company said: “Sainsbury’s continues to be one of the most competitive retailers on price and that includes fuel. We know that consumer budgets are stretched, so from tomorrow our fuel prices will be dropping. This is to ensure that we continue to be one of the cheapest places for motorists to fill up their tank.” Asda is also cutting its prices. From tomorrow morning the company will knock up to 3p a litre from the price of fuel, meaning drivers will not pay more than 130.7p a litre for petrol and not more than 134.7p a litre for diesel. Asda’s petrol director Andy Peake said: “Once again, Asda leads the way in saving drivers money. And unlike others our price cuts are across the board. That’s why no one will pay a premium for their petrol to fund lower prices in another town round the corner.” Petrol prices Motoring Family finances Consumer affairs Oil Oil and gas companies Energy industry guardian.co.uk
Continue reading …• Jury had been due to consider attempted abduction allegation • Judge calls Milly Dowler murderer ‘cruel and pitiless’ An Old Bailey jury has been discharged without reaching a verdict on an allegation that serial killer Levi Bellfield attempted to abduct 11-year-old Rachel Cowles the day before he snatched Milly Dowler in 2002 because of media coverage of the trial. The judge, Mr Justice Wilkie, said that publicity of the case had left him no option but to discharge the jury and refer the matter to the attorney general. There was a huge amount of publicity that should not have been put before the jury, the judge said. On Thursday the jury convicted Bellfield of Milly’s murder after snatching her as she walked home from school near his home in Walton-on-Thames, Surrey. They were due to continue deliberating on Friday morning on the allegation of attempting to abduct Rachel Cowles. Prosecutor Brian Altman QC told the judge a decision had yet to be taken on whether to seek a retrial on the attempted abduction charge. Bellfield, a former wheelclamper and bouncer, was on Friday jailed for life with a whole life tarrif for Milly’s abduction and murder. After killing Milly, Bellfield dumped her body 25 miles away in Yateley Heath Wood, in Hampshire. The judge said: “He robbed her of a promising life, he robbed her family and friends of the joy of seeing her grow up into a self-confident, articulate and admirable young woman. “He treated her in death with total disrespect, depositing her naked body, without even a semblance of a burial, in a wood far away from her home, vulnerable to all the forces of nature.” He added: “He is marked out as a cruel and pitiless killer. “To this is added the fact that, as on another occasion at this court, he has not had the courage to come into court to face his victims and receive his sentence.” Bellfield, who was not in court, was already in prison for murdering 19-year-old Marsha McDonnell and Amelie Delagrange, 22, and the attempted murder of Kate Sheedy, 18, in 2004. Bellfield, 43, was given three life sentences for those crimes in February 2008 and was told he would never be released. Milly Dowler Crime guardian.co.uk
Continue reading …ISLAMABAD-As the U.S. looks ahead to its phased withdrawal from Afghanistan, even more attention is being directed toward Pakistan, where Obama administration officials say al-Qaida and its allies are still plotting attacks against the West. They argue that threat has been effectively neutralized in Afghanistan, a key justification for President Barack Obama’s announcement Wednesday that the U.S. will withdraw 33,000 troops from Afghanistan by next summer. The U.S. invaded Afghanistan in 2001 because al-Qaida used it as the base to launch the 9/11 attacks. Afghanistan could take on new significance for the U.S. as a base to launch unilateral strikes against militants inside neighboring…
Continue reading …ISLAMABAD-As the U.S. looks ahead to its phased withdrawal from Afghanistan, even more attention is being directed toward Pakistan, where Obama administration officials say al-Qaida and its allies are still plotting attacks against the West. They argue that threat has been effectively neutralized in Afghanistan, a key justification for President Barack Obama’s announcement Wednesday that the U.S. will withdraw 33,000 troops from Afghanistan by next summer. The U.S. invaded Afghanistan in 2001 because al-Qaida used it as the base to launch the 9/11 attacks. Afghanistan could take on new significance for the U.S. as a base to launch unilateral strikes against militants inside neighboring…
Continue reading …Tempted by the allure of the cloud ? Still not quite ready to give up that local backup at home? Fret not, as LaCie’s new CloudBox gives you a pinch of both. The gizmo pictured above may look similar to the company’s Wireless Space NAS , but it’s actually a 100GB “hybrid HDD.” The device connects to a router exclusively via its single Ethernet port, enabling it to handle local backups while also automatically mirroring an AES encrypted copy to a cloud server daily — even if your computer is off. Using LaCie’s Online Restore software, the offsite copy is accessible by up to ten previous volumes should the box ever become inoperable. The CloudBox comes with a one year subscription for online backups (mum’s the word on future fees), and will be available in July priced at $200. You’ll find more details in the PR past the break, as well as a video showcasing a variety of unfortunate — mostly baby induced — situations it’s intended for. Gallery: LaCie CloudBox hybrid HDD Continue reading LaCie’s CloudBox ‘hybrid HDD’ doubles your backups in the cloud (video) LaCie’s CloudBox ‘hybrid HDD’ doubles your backups in the cloud (video) originally appeared on Engadget on Fri, 24 Jun 2011 08:06:00 EDT. Please see our terms for use of feeds . Permalink
Continue reading …A massive 7.2 magnitude earthquake hit Alaska’s remote Aleutian Islands late Thursday, but there were no immediate reports of injuries or damage. A tsunami warning issued for some coastal areas of Alaska was canceled around an hour later. In the town of Dutch Harbor, hundreds of people climbed a…
Continue reading …Amid Wisconsin-style drama, New Jersey’s Democrat-controlled legislature passed a plan to force public workers to pay more for benefits. The measure, bitterly opposed by the state’s powerful unions, has already passed the state senate and Chris Christie is expected to sign it into law as soon as Friday, reports the…
Continue reading …Home Retail Group completes purchase of Habitat brand in the UK and three London stores The company behind Argos and Homebase has bought the Habitat brand in the UK and its three flagship stores in London for £24.5m. The rest of the loss-making UK chain, owned by retail restructuring specialist Hilco, has been put into administration. Home Retail Group acquired the rights on Friday to the exclusive use of the Habitat brand, its brand designs and intellectual property in the UK and Ireland. It is also buying Habitat’s UK website, which was launched last year, plus certain brand support functions and the stores in London’s Tottenham Court Road, King’s Road and Finchley Road. Habitat, which runs 33 shops across the UK employing 900 people, has appointed Fraser Gray from Zolfo Cooper as administrator to the business in the UK to enable a “fundamental restructuring”. Habitat’s remaining 30 UK stores will trade as usual while the administrator talks to potential buyers. Hilco, which acquired Habitat in 2009 from the Kamprad family, the owners of Ikea, said it was in advanced talks to sell Habitat’s profitable European arm to a major European listed group. A deal would need clearance from the French works council and the competition authorities in France, but the sale is expected to complete in August. Phil Wrigley, Habitat’s executive chairman, said: “The sale of the brand and three flagship stores to Home Retail Group secures the future of Habitat and will enable the business to move forward in the UK with the benefit of the group’s multichannel strength.” Home Retail Retail industry Julia Kollewe guardian.co.uk
Continue reading …Since we disposed with the notion that the networks had a feeding frenzy on the Anthony Weiner scandal, what about the news magazines? They began with a whimper, but then that week’s magazines were summer double issues. After the week off, what happened in their June 27 issues? Not much. Newsweek didn’t offer a down arrow in their “Conventional Wisdom” column, but they gave an up arrow to “GOP Fringe,” arguing “Perry, Bachmann, and Paul show screwballs’ strength.” Up front, Newsweek acknowledged the end of Weinergate with a two-page photo and about 150 words on Weiner, but they gave a page to fashion writer Robin Givhan to prattle on about how Mrs. Weiner “says much with her wardrobe.” I think people would rather hear her speak. First question: “You really know how to pick 'em, huh?” Abedin drew nothing but coos and back-pats from the media in this whole thing. The pull quote: “In slim trousers and a pop of neon, Huma Abedin exudes calm and control amid chaos.” Who needs a press coneference when your “neon pop” will do the talking? She gushed: Fashion, used wisely, is a declaration of relevance. When Abedin posed for Vogue in 2007, she established herself as a Washington power personality. Last year, she made a return appearance in her wedding gown: a succinct pronouncement that her social currency had only risen in value. Time magazine was actually worse than that. It had no picture, no summary of the resignation or career of Weiner They only published a column on page 62 headlined “ No Pictures, Please! The scandals that stick aren’t always the worst. They’re just the ones we can see.” Nancy Gibbs, who was a Clinton stalwart during Monicagate, barely mentioned Weiner as she discussed the weight of the Pentagon Papers and the Watergate scandal for Nixon: Could he have survived Watergate if we had just read about his actions rather than heard them unfold in all their greasy glory? There's no way to know, but when it comes to Weiner, we can hazard a guess. A new Pew poll found that most respondents thought the recent rash of sex scandals reflects not lower standards among lawmakers, just higher scrutiny. Had we not seen the crotch shots and read the sexts but merely heard that Weiner was communicating inappropriately with his fans, it's hard to believe he would have been judged unfit for congressional service by his peers. This is the lawmaking body that was content to censure Gerry Studds for inviting a 16-year-old page to his apartment, getting him drunk and seducing him. Barney Frank put a prostitute on his personal payroll who proceeded to run his business out of Frank's Capitol Hill apartment; Frank was reprimanded for fixing his parking tickets. Senator Larry Craig considered resigning after he was arrested in a sex sting in an airport men's room but thought better of it and served out his term. Last year Senator David Vitter was re-elected in a landslide despite having his name turn up in the phone records of the D.C. Madam. And that's just the sex. FBI agents found $90,000 in bribe money in Congressman William Jefferson's freezer; he was defended by colleagues and re-elected by voters before being sentenced to 13 years in prison. Charlie Rangel was writing laws on our taxes as chair of the Ways and Means Committee while somehow neglecting to pay his own. He lost the chairmanship but keeps his seat, from which he now defends Weiner. Then came the argument that Weiner’s scandal wasn’t really scandalous at all and Weiner was done in by “pitiless prurience” in our culture: But defends him from what? No accusations of crime or abuse or outright adultery — not that that has proved disqualifying in the past (though a new Tennessee law makes it a crime to transmit online an image that might “frighten, intimidate or cause emotional distress,” so who knows what is illegal anymore?). Boiled down, the charges against Weiner amount to being epically stupid and deeply creepy and to having few friends in Congress. In the end, the calls for his resignation aren't a moral judgment but a political one: his presence costs too much and distracts Democrats from defending Medicare to the death, and in any case, New York needs to sacrifice two congressional seats to redistricting, so Weiner's might conveniently dissolve in 2012. As for the rest of us, the political-media-industrial complex has found Weinerpalooza an irresistible distraction from other disturbing news. The days of the Pentagon Papers debates seem long past, when a sudden transparency yielded insight into fights over war and peace and freedom and security; the transparency afforded by Twitter and Facebook yields insights that extend no further than a lawmaker's boundless narcissism and a culture's pitiless prurience. “Weinerpalooza” was an “irresistible distraction”? Obviously, Time magazine found it very resistible. But Gibbs was quite right about how Weiner's judgment by fellow Democrats wasn't moral, just political: they were willing to defend Weiner and stiff-arm the press if his online “activism” was limited to a few news cycles, but since TMZ seemed to keep finding more embarrassing images, he had to go. Democrats proved in the Lewinsky scandal that they will preserve their power and fudge the morals (Broaddrick rape, schmape) if it's really important. So did Time magazine.
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