Hastings’ has a place in Co-op’s plans for expansion

A prominent Hastings site is included in ambitious plans the Co-op has unveiled to open more than three stores each week until December. Parkstone Parade, just off Parkstone road and close to the Ark Alexandra Academy, has been chosen by the convenience retailer to be the site of one of its new stores. Nationally the plans […]

Bidding deadline was yesterday as analysts predict an online only future for Debenhams

The future of Debenhams may well already have been decided as reports surface today that those bidding to take on the struggling department store chain were asked to submit their bids by 5pm yesterday (September 1st). Investment bank Lazard is overseeing the department store’s sale process after Debenhams filed for administration in April. There are […]

Congratulations all round as councillors review ‘robust’ financial strategy

Self-congratulations was in the air on Tuesday night as the senior members of Hastings Borough Council (HBC) met in cabinet to review the authority’s financial strategy. Under discussion was the council’s financial performance as members reviewed the Treasury Management Report. Chief Finance Officer Peter Grace told the meeting the council’s financial strategies had worked well. […]

£65m in debt… finance chief expects clampdown on councils’ ability to borrow

Debt fuelled acquisition of commercial property by the borough council might be a thing of the past in Hastings. Tonight members of Hastings Borough Council’s cabinet will hear that a government consultation that ended in July is expected to put an end to councils being able to borrow from the Public Works Loan Board (PWLB) […]

Teetering on the brink? Debenhams owners appoint business closure experts

Virtually every Sunday newspaper is reporting that Debenhams might soon disappear from high streets across the UK, with The Sunday Times summing the situation up in its headline: ‘Debenhams puts liquidators on standby’. Debenhams owners have appointed advisers, Hilco, who specialise in company liquidations and who have in the past wound up the business activities […]

Controversial plans for PGL’s Pestalozzi site about to be decided

A children’s activity centre could soon be built on the former Pestalozzi site in Sedlescombe if controversial plans are agreed tomorrow. PGL Travel, which bought the 138 acre site last year, wants to turn it into a residential training and educational facility. And planning officials have recommended that conditional permission be granted for the scheme […]

LATEST: Hastings Direct agrees to a £1.66 billion takeover

Hastings Group Holdings, the Bexhill-based insurance giant – and major local employer – is set to be taken over in a deal valuing it at £1.66 billion. The company has accepted an approach from Dorset Bidco – a consortium made up of its main shareholder, RMI, and Sampo, the Finnish insurer. There was no mention […]