Retail bosses buy up shares

by TnP Staff
Published: 17 January 2018, 10:58
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The Telegraph has reported that business leaders have spent a total of £274,714 on share purchases.

With Mothercare and Debenhams reporting a drop in Christmas trading, the retailers' bosses have reportedly been sticking their hand in their own pockets to prop up share prices, according to the Telegraph.

The newspaper reported that senior executives had spent almost a quarter of a million pound between them to buttress the value of shares.

Debenhams Chairman Ian Cheshire and Chief Executive Sergio Butcher have spent £51,415 and £49,956 buying shares at 29p. Meanwhile, Mothercare boss Mark Newton-Jones bought £218,387 shares at a cost of £99,802 and Finance Chief Glyn Hughes also bought £24,795 of shares.

Both Mothercare and Debenhams have slashed their profit forecasts after Christmas trading fell short of expectations.