Recharge purchases Giftcloud from Groupon, expanding into B2B digital rewards business. Giftcloud is profitable with millions of transactions processed, which makes the UK Recharge's third-largest market. The purchase follows Recharge's €45M acquisition facility with ABN AMRO.
EY penalized £500,000 (reduced to £325,000) by the FRC for exaggerating the deadline for the ten-year audit term for Stirling Water Seafield Finance. This following a £6.5 million penalty for auditing Thomas Cook.
Boohoo rebrands as Debenhams to revive struggling youth fashion labels. Sales dropped 21% to £947m due to competition and secondhand trends. Cost-cutting measures and portfolio review underway.
