SHOPPING

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Photo company Olan Mills, which employs 950 staff in 97 stores across the UK, has gone into administration. Richard Philpott and Myles Halley, from accountancy and corporate recovery firm KPMG, were appointed in the High Court as joint administrators of Olan Mills Holdings Ltd and Olan Mills Ltd. The firm has been making significant losses over recent years, and administrators said that despite refinancing and management changes, it was not possible to turn the company around.

KPMG said that the majority of staff would be made redundant, and the company would not be able to honour existing appointments or refund monies paid. Administrator Richard Philpott said, "Management have been working hard to secure a sale of the business over recent weeks, but despite their best efforts a satisfactory deal could not be concluded. All stores have now closed and we are unable to fulfil any outstanding orders or appointments."

Should you need to get in touch with the administrators, then they can be reached at 2 Cornwall Street, Birmingham, B3 2DL. However, the administrators pointed out that "at this stage we do not anticipate that any funds will be available to enable a distribution to unsecured creditors". Customers requiring any further information should call customer services on 08457 585351. (Source: BBC News, Dec/06)

The future of Woolworths appeared to be under threat after details emerged of a possible takeover move. Under a plan reported in the Financial Times, Woolworths would be broken up by its biggest shareholder Baugur, in a move which would reverse the company's strategy of having a store near every British household.

The company is currently battling to revive its fortunes after seeing its market share eroded by competition from supermarket and online retailers. It is carrying out a programme of store refurbishment and IT investment, but this was viewed by Baugur chief executive Jon Asgeir Johannesson as costly, risky and ill-judged.

Baugur currently owns around 10% of Woolworths, with the high street retailer valued at around £500 million based on last night's share price. The company was a takeover target last year after an aborted £837 million approach from the private equity group Apax.

Baugur recently stuck an agreement to buy department store chain House of Fraser for £351 million. Its retail empire also includes the clothing chains Whistles and Karen Millen, along with tea and coffee maker Whittard of Chelsea, royal jeweller Mappin & Webb, Hamleys, and food retailers Iceland and Booker. (Source: Mail on Sunday, Sep/06)

B&Q is to close 22 stores and reduce the size of about 16 others. The company has not specified which stores would be closed, but said the 22 outlets being shut were in markets "already well served by other B&Q stores". About 16 of B&Q's Warehouse stores will be converted to the mini-Warehouse format, and the space released will be marketed to other retailers.

Sainsbury's applied to Derby City Council in 2004 for permission to build a B&Q Warehouse superstore next to its supermarket in Osmaston Park Road. It would include a builders' yard, garden centre and 452 parking spaces. As part of the proposals, Midlands Co-op Dairy, which is also based at the site, would relocate to new premises at the front of the redevelopment. The plan has been given the go-ahead by the Secretary of State. (Source: Derby Evening Telegraph, Apr/06)

Field Sports, in The Morledge, is to close after almost 60 years. Owner Nigel Yeomans said that the shop, could not continue to operate as the current developments in the city centre had hit profits. He said, "For the past five years it has been a struggle and I think it's the right time to say 'thank-you' to our customers. Our running costs have risen and the centre of Derby seems to be moving further away from where we are."

Mr Yeomans said the shop had always been proud of its customer service and he believes that the personal touch that independent shops offer cannot be matched by larger stores. However, in common with many other stores with the extension to the Eagle Centre, the concentration of shops is moving traders at what is now regarded as the "quiet end of town" are worried for their future.

The other reason for shops' incomes to have been hit for more than a year now has been the general disruption caused by building and road works. Many shoppers will tell you that they are deterred by delays caused by the bollards and lane closures, and those who rely on buses are unhappy at having to wander around, trying to find their bus stops. They have a right to expect that the council will address their concerns. (Source: Derby Evening Telegraph, Jan/07)