Hints and tips:
...A US judge has dealt a blow to Apollo Global Management, Angelo Gordon and other big creditors in the bankruptcy of mattress maker Serta Simmons Bedding, in a ruling that could settle a fierce dispute on...
...Hoarding dollars — the proverbial hiding cash under the mattress — is a national pastime....
...High returns meant high risk and First Boston suffered significant paper losses on bridge loans extended to such companies such as Ohio Mattress, Campeau and Long John Silver’s....
...Supermarkets and “variety discounters” such as B&M and Home Bargains have been undercutting it on staples such as deodorant, shaving products and toiletries, while online rivals and department stores are...
...Reaching for new funds to see it through the pandemic, mattress company Serta Simmons Bedding took $200m in new loans from a slim majority of creditors who, in addition to putting in the fresh money, saw...
...Serta Simmons, the mattress company owned by Advent International, said complaints by a lender group led by Apollo over a recent rescue financing that left the group co-founded by Leon Black, pictured above...
...As companies try to conserve cash, dividend payouts have been postponed at groups, including Nordstrom....
...Casper is one of nearly 200 mattress sellers. Even with its hip branding, it has struggled to stand out....
...The German discounters Aldi and Lidl, which have transformed European retail, are another danger for the established American brands....
...Global banks are looking at substantial losses on loans to a company that has been a serial acquirer in recent years of assets including a US mattress group and the UK high-street discounter, Poundland....
...The dismantling of the group has already begun....
...They are the ones hit the most by the discounters.” Analysts have speculated that Kroger or Sprouts could be the next targets....
...It has profited as consumers switch allegiance from supermarkets to value retailers and discounters such as Aldi and Lidl....
...Both have been growth stories: Poundland, a discounter that sells everything from soap to toys for £1, opened more than 250 stores since being bought by Warburg Pincus....
...That compares with about 10:1 for US discounters Dollar General and Dollar Tree. Poundland, which hopes to double to 1,000 stores in the UK would argue it has more scope for growth....
...Ares has previously invested in General Nutrition Centers, Samsonite and mattress manufacturers Serta and Simmons....
...The history of retail expansion is littered with examples of foreign-based groups that failed to build big American businesses....
...The non-food segment has come under attack from internet retailers and hard discounters and here, Mr Plassat’s experience in non-food retailing at Vivarte will be valuable....
...The main problem lies with the non-food segment, which has come under attack from internet retailers and hard discounters....
...The US supermarket sector is highly fragmented with only a few groups able to boast a broad national presence....
...But the change in consumer sentiment is best reflected by the success of German hard discounters Aldi and Lidl, which have each established strong followings....
...“The discounters Poundland, Home Bargains and B&M Retail are among the most impressive, entrepreneurial retailers we have in the UK at the moment,” said Clive Black, retail analyst at Shore Capital....
...However, others look at the long-term success of US discounters such as Dollar Tree. “It is still a relatively underpenetrated retail segment, compared to the US,” said one banker....
...Dia is the world’s third-largest discounter by sales with a significant presence in emerging markets....
International Edition