Gerald Ratner agitates to buy Ernest Jones and H Samuel
Gerald Ratner is attempting to buy back the UK retail operations of Signet Jewelers, which includes the H. Samuel and Ernest Jones brands, 34 years after he lost control of the company. Ratner has criticized the US-based management for neglecting the UK division, arguing that their focus on the larger American market has led to poor performance in the UK. Despite a slight increase in same-store sales, the UK operations reported an overall drop in revenue and significant operating losses. In his efforts, Ratner claims to have secured financial backing and is pressuring shareholders to consider a sale. He suggests that the current management is out of touch with the UK market and has failed to adapt to local consumer needs. If successful in his bid, Ratner would return to a leadership role in a company he once famously described as "total crap" during a disastrous speech in 1991, which ultimately led to his resignation.
