Mothercare renegotiates bank loan terms after profit warnings

Mothercare has 220 stores under the Mothercare and Early Learning Centre brands. Photograph: Paul Faith/PA

Mothercare is renegotiating the terms of its bank loans just seven months after it secured a £90m refinancing facility. A weekend report said that the embattled baby care retailer had asked lenders HSBC andBarclays for breathing space.

It comes after a number of profit warnings and the departure of chief executive Simon Calver in February.

A source close to Mothercare said the talks were "part of a prudent approach" about giving it the flexibility to fund investment as it opens new stores and carries out refits. Elsewhere in the business, loss-making stores are continuing to close as planned.

It emerged at the weekend that the company was squeezing suppliers by adding a 2.5% charge on all invoices and telling them it would extend its payment time for bills to 90 days.

Last month, the group revealed a more resilient UK sales performance so far this year.

The retailer, which has 220 stores under the Mothercare and Early Learning Centre brands, said like-for-like sales were just 0.3% lower in the 12 weeks to 29 March, against a 1.9% fall for the whole financial year.

Chairman Alan Parker described the performance as encouraging after the profit warning issued in the wake of poor Christmas trading. There was also improved underlying trading at its international business.

The UK business, which made a loss of £21.7m during the 2013 financial year, has been hampered by price wars in home and travel goods.

A Mothercare spokeswoman declined to comment.

This will be my best work thus far: Rahat Fateh Ali

Khan’s performance at IIFA awards 2014. PHOTO: FILE

LAHORE: 

Singer Rahat Fateh Ali Khan is always upbeat about the work he does. The unveiling of his latest album Back2love by Bollywood actors Anil Kapoor, Priyanka Chopra and Sonakshi Sinha at the IIFA awards, in Tampa Bay, Florida was done with considerable flair and style.

It is said to be the first time an album from the sub-continent has been launched in this manner, endorsed and greeted by a crowd of Bollywood A-listers. It ultimately reflects that the world is an oyster for Khan’s music. The album is being released by Universal Music India and will be released globally; it includes compositions of the Tradition Plus team, Sahir Ali Bagga and Mian Yousuf Salahuddin.

“The album is a mixture of love songs  — about being in love, falling in love or unfortunately falling out of love. I am very excited about this album, because I feel it’s my best work thus far. There has been a dedicated team working on this for the last several months, which I believe is something you will be able to hear in the melody and lyrics,” says Khan.

Khan’s album is going to be released on June 8, alongside the IIFA telecast which will premiere on television to an estimated 600 million viewers. The intent is to go big while also keeping close to his roots. Bagga and Yousuf Salli who contributed lyrics for the song Rhim Jhim have a major role in the albums production process, along with the producer Salman Ahmed, who has helped with his experience abroad. The album will experiment with traditional melodies and maintain the cultural ethos.

“I have always said that Bagga is more of a magician than musician; he has hand crafted the music for this album,” says Khan, who tries to maintain his soft-spoken image.

“Mian Yousuf Salli has an almost impeccable role in the album and his lyrics in the song Rhim Jhim are amazing. The song has been sung by Shreya Goshal and me,” he adds.

“I have always believed that music has no boundaries, and since this album is about love, the title also has matched that sort of idea of getting Back2Love,” says Khan.

The album’s producer Salman Ahmed explained that the collaboration with Priyanka Chopra could not happen due to issues with her record label and because the time wasn’t  right. Salman added that in a span of ten years, Rahat has grown into one of the most sought after live performers and playback singers with an international following.

“The main reason why he had not been able to release an album before is that he has been one of the busiest artistes in the subcontinent; he could not focus on his own personal album,” says Ahmed.

He says that the album does not compromise his dedication towards traditional and local melodies and that there will be more of an international feel to the album. He said that there were no barriers on the type of music that Rahat can explore.

“This album shows that he can do anything as an artiste, he can experiment with different genres. You will see that he doesn’t compromise on the lyrics and melody in his songs,” adds Ahmad.

Interestingly, Rahat has collaborated with several artists from across the border including Sajid-Wajid, Salim-Suleman Merchant, Goshal and others. There have been reports that Khan has been busy recording two music videos; one of them is said to be loosely inspired by Jennifer Lopez and features Elle Abram. Further, it was disclosed that the marketing and promotion budget is said to be larger than the budget of most local films.

Ranbir and Katrina to make relationship official with a bash

It was Ranbir who reportedly had commitment issues, but all seems to be sorted now between the two. PHOTO: FILE.

Actors Ranbir Kapoor and Katrina Kaif appear to be fed up with the endless speculations surrounding their romance and have finally decided to announce their relationship status. According to the Deccan Chronicle, Ranbir is ready to move into his new apartment, though it isn’t sure whether Katrina will be joining him, the couple is now ready to take their relationship to the next level and make it official.

A source close to the actors said, “Too much has been said about Ranbir and Katrina. Though they haven’t spoken a word about it, the two have always maintained that they are special to each other. They also don’t shy away from being spotted in public anymore as their families are aware of the relationship. They did go through a rough phase in between, but then again which couple doesn’t fight?”

“They sorted out their differences and now things are fine. It was said that Ranbir reportedly had commitment issues, but all that seems to be a thing of the past considering Katrina has been dropping in at his bungalow very often,” added the source.

“With Ranbir moving out to live alone, Katrina has been helping him with setting up the new place. The two were also at Worli last week to meet an interior decorator to do up Ranbir’s new apartment in Bandra. All this is a clear indication that the duo is ready to go public about their relationship,” continued the insider.

The media-shy duo has been spotted together quite a number of times and they also dropped in for the special screening of Revolver Rani. The couple has been under the media radar for far too long now and they now wish to make their relationship official. The source added that the couple is quite frustrated with all the speculations around their personal life and is now planning to host a party to announce their relationship status. The party is said to happen very soon and will be held for close friends from the industry and the press.

I have a lot to learn in the universe of music: Priyanka

The release of her upcoming film will be clashing with her alleged former beau Shahid Kapoor’s film Haider, but Priyanka remains unaffected. PHOTO: FILE

Actor Priyanka Chopra is a force to be reckoned with. The Bollywood diva is snowed under with work and still manages to pull through. She is split between acting in theMary Kom biopic, building a career in music and performing at awards shows.

Interestingly, the release of Mary Kom will be clashing with her alleged former beau Shahid Kapoor’s film Haider, but Priyanka remains unaffected, according to bollywood.com. “I’m not aware of the clash since I’ve been travelling a lot recently. Besides, I don’t believe in clashes,” she said. “I’m sure both are great films and from completely different genres. It has been a great opportunity for me to work on the biopic. And I’m sure Vishal Sir has also made a superb film.”

Priyanka shared how playing the role of a real-life boxer has been no easy feat. During the shooting, she has injured her ankles, head, stomach and knees. “It has been difficult. And the biggest challenge has been to develop a body that looks like that of a boxer’s,” she stated. “In our industry, male stars generally go through physical changes for their roles while heroines remain the same. But this has been a very different experience.”

Despite receiving acclaim for the three singles she has released so far, Priyanka feels she still has a lot to accomplish. “I have a lot to learn in the universe of music,” she said. About her most recent song I Can’t Make You Love Me, she shared how it is special for her. “It’s a cover (of Bonnie Raitt’s ballad) that has been done by several great artistes in the past. I was excited and nervous before its release.”

Priyanka can be expected to sing in Bollywood in the near future. “We are trying to work something out. I can’t share details, but something should happen soon,” she commented.

Let’s wait and see what the multitasker has in store for us next.

Never been respected the way I’m now: Kangana

Kangana Ranaut admits the perception about her and her ability to perform has changed over the years. PHOTO: FILE

NEW DELHI: 

Her performance in recent movies like Queen and Revolver Rani has earned Kangana Ranaut the epithet of being Bollywood’s ‘rani’. She says she has been receiving respect and acknowledgment for her work like never before.

“I feel this is a beautiful time of my life. I’ve never been respected or treated the way I am right now…the way people have really acknowledged what I do. It is nice,” said Kangana.

Coming from Himachal Pradesh and with no film background, Kangana has made a niche for herself in Bollywood where star kids almost rule the roost.

Her choice of movies and roles has always been distinct – sample her act in Tanu Weds Manuvis-a-vis her role in Revolver Rani, or Gangster – A Love Story or Fashion.

As a viewer, too, she prefers to watch the kind of cinema she is part of.

“I like what I do, and that’s why I do them. I’d like to see something like Queen, or a dark drama with some humour. I like twisted cinema and universal cinema like Queen appeals to me as well,” she said.

She admits the perception about her and her ability to perform has changed over the years. “The perception has changed. But also, initially, there weren’t so many great roles and female actors were all about glamour, with roles where they were tortured by the world…it was all about making a stereotypical film. But there is a variety of films now, and it’s great,” she added.

Kangana was being interviewed on the sidelines of the NDTV Indian of the Year Awards, where she was honoured as the Actor of the Year.

Not so long ago, Kangana had stated that she would say no to award ceremonies, but she found this particular award ceremony “credible”.

“It is credible. First, I said no for the award, then I got a personal letter from Prannoy Roy (the channel’s head honcho) and it convinced me to come here. It is not a filmy award – they award people from all fields, and that’s why I came,” she said.

Her happiness knew no bounds when she learned that actor-filmmaker Aamir Khan was going to present her the award.

Did you know?: Australian university names scholarship after Big B

Amitabh Bachchan has yet another feat to his credit. The La Trobe University in Victoria, Australia has named a scholarship after the megastar, who inaugurated the Indian Film Festival Melbourne (IFFM) along with the governor and his wife on Thursday.

Expressing his delight, he took to his blog srbachchan.tumblr.com and posted, “The La Trobe University names a scholarship after me, [which is] to be accorded to deserving students from all walks of life that will come and study media and entertainment courses here.”

He also thanked the government of Victoria for calling him to inaugurate the 11-day festival. “Thank you, the Governance of Victoria for this gesture… lending unstinted support to our film industry in conducting such events to acquaint the locals with our cinema,” said the 71 year old. “The warmth and graciousness shall be carried by us all to India and in particular, to our countrymen,” he added.

He also shared that an award ceremony will be held for selected films in categories ranging from short films to features, where he will be presented with an Achievement Awards. Way to go, Big B! 

Even I’m targeted on Koffee with Karan: Sonam Kapoor

Sonam Kapoor, who is known for her immaculate fashion sense, has established herself as a style icon at a young age. PHOTO: FILE

MUMBAI: Bollywood style icon Sonam Kapoor made some controversial statements on the chat show Koffee with Karan, which included a comment on the reigning box office queen Deepika Padukone’s style. The actor, however, says that her comments should be taken lightly, because even she is targeted by celebrities on the same show and doesn’t make a big deal out of it.

Known for her high-style quotient, the Raanjhanaa actor said: “I have realised that a lot of people say a lot of things about me on the same show. On every show someone has said something about me.”

“But because I go with the spirit of the show, I never react to anything, I don’t comment, I don’t make a big deal out of it and I expect the people to do the same thing,” added the 28-year-old known for her carefree attitude.

On the chat show Sonam had commented on Deepika’s style, going as far as saying that it is dominated by her stylist Anaita Shroff and her wardrobe lacks her personal touch.

However, she doesn’t mind talking too much and said: “For some strange reason I make good copy, so people like to talk about me. I am okay, as long as people are talking about me.”

However, now, she has had enough and plans to stop commenting on another person’s clothes or style statements.

“Honestly, I think I will start being a little more careful and I will not give my opinion on anyone’s clothes anymore. It was a fun show and I tried to be fun and not take myself too seriously. But I think that’s the wrong move,” she said.

Sonam is currently gearing up to walk the red carpet at the Cannes film fest that begins May 14, she is really looking forward to it