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Never Never co-founder George Georgiadis (far right) left his finance job to become an entrepreneur.

‘Economy-proof’ gin delivers windfall for ex-Macquarie banker

George Georgiadis left finance to build a gin business with two mates eight years ago. They’ve hit payday with a buyout by Asahi.

  • Simon Evans
Former Bapcor CEO Darryl Abotomey still owns 1 million shares in the company he was ousted from in late 2021. He says the latest turmoil is “disappointing in the extreme”.

Ex-Bapcor boss braces for the worst after CEO no-show

“I should have sold a long time ago,” says former Bapcor CEO Darryl Abotomey, adding that it is disappointing to see the company go through more turmoil.

  • Simon Evans
Woolworths sold a 5 per cent in stake in Endeavour Group but retains 4.1 per cent.

Woolworths shareholders to pocket proceeds from Endeavour sale

The supermarket giant offloaded a 5 per cent stake in the owner of Dan Murphy’s, realising $468 million for its shares.

  • Carrie LaFrenz

Yesterday

Super Retail CEO Anthony Heraghty.

Super Retail’s alleged executive tryst packs heat on the board

Bombshell claims against CEO Anthony Heraghty have been aired in public, putting the spotlight on chairwoman Sally Pitkin.

  • Updated
  • Mark Di Stefano
Endeavour Group owns the Dan Murphy’s liquor chain, BWS and 354 hotels.

Woolworths launches $468m selldown in Endeavour; Jarden on ticket 

It’s not the first time Woolworths has offloaded Endeavour Group stock since the grocer spun it off to the ASX boards.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
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Leah Weckert has had a big month, but it’s not getting easier.

Coles has a bit of a booze problem

While Coles’ supermarket sales are holding up well, a shock drop in its liquor division tells a story about the growing pain of interest rates.

  • James Thomson
Coles supermarkets revenue reached $9.1 billion, advancing 5.1 per cent or 4.2 per cent on a comparable sales basis.

Coles wants suppliers’ help in cutting prices as shoppers seek deals

The supermarket chain’s sales rose 5.1 per cent in the third quarter but liquor sales fell as consumers cut spending by looking for cheaper alcohol options.

  • Carrie LaFrenz

April

Lawyers says they are going after Super Retail Group CEO Anthony Heraghty in a personal capacity.

Super Retail legal action expands to at least four staff

Lawyers acting for employees say they offered to settle confidentially for less than a third of the $30 million to $50 million sought.

  • Carrie LaFrenz and Ayesha de Kretser
Adore Beauty CEO Tamalin Morton.

Adore Beauty CEO Morton to step down

The online beauty retailer is on the hunt for another CEO after Tamalin Morton flagged plans to exit in September.

  • Carrie LaFrenz
Discounter Aldi.

Aldi pays mega $420m dividend to offshore parent

Newly released accounts reveal the discount supermarket chain made a hefty capital return to Austrian company Hofer KG in 2023.

  • Carrie LaFrenz

‘Wealth effect’: the stocks that could gain from rising house prices

Jarden highlights its best bets, saying homeowners feeling good about their property appreciation turn to spending more on big-ticket retail items.

  • Simon Evans
Jon Adgemis has been under pressure to refinance his pub empire.

Jon Adgemis’ lender pushes to sell his Darlinghurst Hotel

Another lender does not want the sale to go ahead. The crisis highlights the rosy valuations of the indebted pub baron’s properties.

  • Primrose Riordan
Super Retail Group CEO Anthony Heraghty has been accused of having an intimate relationship with the former head of HR.

Super Retail CEO and former exec accused of undisclosed relationship

The board and chief executive are expected to be named in a soon-to-be-lodged legal claim by Harmers Workplace Lawyers, Super Retail said.

  • Carrie LaFrenz
Weaponising parliament’s power to compel witnesses to appear distracts from its purpose to ensure a well-informed and scrutinised democratic Australia.

Why supermarkets ‘fell off their pedestal’

Building social licence is a significant opportunity for retailers but as the travails of the two big supermarket chains show, it can be easily damaged.

  • Sue Mitchell
Nick Scali boss Anthony Scali will help fund this deal by promising $4 million.

Nick Scali mounts UK push, realising long-held dream

The Australian furniture retailer flagged an equity raising to fund deal and further invest in its new British business.

  • Carrie LaFrenz
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Woolworths has been lowering prices to catch Coles’ faster growth.

Woolies cuts prices in bid to catch Coles’ growth

A JPMorgan survey of private label products shows the supermarket giants are competing more aggressively on price, closing the gap with discount retailer Aldi.

  • Carrie LaFrenz
Bridge Road in Richmond was once a  shopping hotspot but has become a ‘ghost town’, according to local retailers.

The Melbourne shopping hotspot that became a ‘ghost town’

Businesses on Bridge Road in Richmond, which has a whopping 15.5 per cent vacancy rate, fear an insolvency snowball effect.

  • Gus McCubbing and Larry Schlesinger
Paul Waterson says the hotels sector is still highly fragmented and his group, the No.2 player behind ASX-listed Endeavour Group, aims to buy around 20 pubs annually.

Private equity-backed Australian Venue Co steps up pub chase

The $10b Endeavour Group put the brakes on acquisitions, but its smaller rival says it could buy 20 pubs this year “quite comfortably”.

  • Simon Evans
The vacant Noah’s Backpackers hostel site in Bondi Beach.

Adgemis’ Bondi auction looms as Deutsche, Gemi try to muster a deal

Angas Securities said it had turned down two proposals from the bank, which is negotiating a $500 million refinance, and is trying to get its money back.

  • Primrose Riordan and Max Mason
Woolworths boss Brad Banducci during his testimony to the Senate inquiry in Canberra on April 16.

Woolworths says forced store sales won’t lower prices

The nation’s largest grocery chain says the bill put forward by the Greens as a tool against the misuse of market power could even result in higher prices.

  • Carrie LaFrenz