Quest for the Olympic flame
Article Abstract:
Manchester, England is making a strong bid to host the Olympics in the year 2000. The city hopes that winning the bid to host the Olympics will pave the way for its transformation from an 'industrial wasteland' to a bustling city with the creation of about 3,500 permanent jobs, the redevelopment of areas characterized by abandoned warehouses and closed-down factories, provide the city with an impressive sporting complex and related infractructure, and boost business on both the local and national level. Helping Manchester along in its Olympic bid is the UK government's support in the form of 55 million pounds sterling, a bid committee composed of well-known personalities, and the bid's identity not only as a regional but as a national bid. Whether or not Manchester's bid will be successful will be known when the International Olympic Committee makes its final decision on Sept 1993.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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Battle of the paint pots
Article Abstract:
The do-it-yourself (DIY) market in the UK looks set for a new round of consolidation brought about by the launch of aggressive expansion plans by some key players. The flurry of activity in 1995 is welcome news for the troubled DIY market, which has been badly weakened by the problems caused by the recession, the decline in house prices, stagnant consumer spending and a series of destructive price wars. Among the notable developments occurring in the market are Sainsbury's acquisition of Texas Homecare, Wickes' opening of 20 new stores in the UK, Do it All's restructuring and refurbishing of its store portfolio, and B&Q announcement of plans to open 50 warehouse stores over a five-year period. Other interesting developments on the DIY front are establishment of the U Build group by former Wickes Chmn. Dick Clark and the likely entry of US giant Home Depot into the UK market.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1995
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Cashing in on household prestige
Article Abstract:
The immense popularity of the brand name Prestige leads people into believing that the housewares manufacturer is a successful business. On the contrary, this British company has been losing around seven million to eight million pounds sterling annually. Industry observers believe that Prestige is underperforming because its solid reputation has made it too complacent. In addition, it has never had any strong motivation to improve its finances because it has a rich parent company, the tobacco giant Gallaher. Now that Gallaher has decided to sell its peripheral interests and focus on its core business, Prestige's future is about to change dramatically. It was recently sold to investor Jacques Margry in a management buy-in valued at more than 30 million pounds. Margry plans to reduce Prestige's costs, boost its profitability and seek a stock market listing in the near future.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1995
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