Today’s news in brief-22/4/25
Marks & Spencer has apologised to customers after a technical glitch disrupted contactless payments and click-and-collect services over the Bank Holiday weekend. Shoppers reported frustration at being unable to complete purchases, with some forced to abandon full trolleys. The issue also affected M&S’s email and chat systems, preventing advance customer communication. While the retailer confirmed the problem was not security-related, it has yet to disclose the cause or confirm a full resolution. Apologising on social media, M&S acknowledged delays due to Bank Holiday restrictions.
The Original Factory Shop (TOFS) is preparing a Company Voluntary Arrangement (CVA) that could see rent cuts and store closures. New owner Modella Capital is negotiating with landlords, reportedly seeking two-year rent-free periods. The move may impact dozens of stores and a major distribution centre, potentially risking jobs among its 1,800-strong workforce. Founded in 1969, TOFS operates around 180 stores, selling brands like Adidas and L’Oreal. Private equity firm Duke Street, which previously injected £10m during the pandemic, had attempted to sell the business before Modella’s takeover.
Matalan has secured an additional £25m from investors, including Invesco and Man Group, to accelerate its transformation strategy. The funds will support store refreshes, new openings, supply chain upgrades, and a new e-commerce app. The announcement follows the appointment of Sarah Welsh as chief product and commercial officer. Welsh, formerly CEO of N Brown, brings extensive retail experience from Oasis, Miss Selfridge, and River Island. Executive chair Karl-Heinz Holland said the investment would drive sustainable growth.
Asda plans to open 25 convenience stores between June and December, expanding its smaller-format presence to compete with Tesco and Waitrose. The supermarket, which acquired 470 sites from Co-op and EG Group, aims to regain market share after slipping behind Aldi in recent sales data. Executive chairman Allan Leighton, who returned in November 2024, emphasised value and convenience as key to rebuilding Asda’s brand. The chain’s market share has fallen from 14.8% to 12.5% since its 2021 takeover by TDR Capital and the Issa brothers.
InPost has acquired Yodel, making it the UK’s third-largest courier. The deal integrates Yodel’s home delivery network with InPost’s 10,000 automated parcel lockers, boosting annual parcel volume to 300 million. The Polish firm, which previously bought Menzies Distribution, aims to streamline last-mile delivery. CEO Rafał Brzoska called the acquisition a “pivotal milestone,” accelerating UK expansion by five years. Yodel’s parent company, Judge Logistics, saw £106m of debt converted into equity, with PayPoint retaining a 4.5% stake.
Easter brought a footfall surge for UK retailers, with high streets seeing a 15.7% annual rise, per MRI Software. Coastal and market towns dipped week-on-week, suggesting holidaymakers opted for city breaks or travel. Central London footfall soared 25.8% year-on-year, while retail parks and shopping centres also gained. Analysts noted the later Easter timing skewed comparisons, but 2025 levels surpassed 2024 by 11.8% overall. Thursday emerged as the busiest day, with shopping centres leading the uptick.