House of Fraser ‘Rescue’ a Hostile Takeover for Suppliers

Retail tycoon Mike Ashley has been quick to position himself as champion of the high street after buying House of Fraser out of administration. But whether suppliers, pension holders and even landlords will be celebrating the takeover is questionable.

The Sports Direct owner snapped up the struggling department chain for £90m just an hour after entered administration last week, vowing to keep open at least 80% of its UK stores open.

The Difference Between What You Think You’re Owed… And What You Can Prove You’re Owed

The concept of a ‘gentleman’s agreement’ is something of a myth in business. Technically speaking, a verbal understanding between two parties is enforceable under contract law, as long as certain criteria relating to contracts are met.

But there lies the rub. If nothing is ever written down, if everything is done on a nod and a handshake, how do you ever prove things like intention to enter a contract and due consideration by both parties?

IndieGoGo Calls in Debt Collectors over Spectrum Vega+ Debacle

For video game fans of a certain vintage, it was a beautiful dream. A plan to reboot the classic ZX Spectrum console of their childhoods, but this time as a handheld device.

The company behind the proposed ZX Spectrum Vega+, Retro Computers Ltd, launched a crowdfunding campaign through IndieGoGo to finance the project. Enthusiasts rushed to back the plans, based on the promise of receiving one of the consoles hot off the production line upon launch. More than half a million pounds was raised in no time.

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