Department Stores
The latest news, updates and analysis on the department stores segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Mar- 2020 -12 March
Debenhams seeking new CEO as Vansteenkiste prepares to step down
Debenhams is seeking a new CEO to help steer its restructuring as its current boss Stefaan Vansteenkiste prepares to step down from his role after less than a year at the helm. According to Sky News, Vansteenkiste is to step down within the coming months and Debenhams has appointed headhunters…
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2 March
Debenhams denies lenders’ threat to hold up restructuring over rent cuts
Department store chain Debenhams has denied reports of it telling landlords that its lenders may not sign off a “critical debt restructuring” unless they agree to further rent cuts. Debenhams and its lenders agreed to swap £100m of debt for equity in April last year after it entered pre-pack administration,…
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Feb- 2020 -24 February
Harrods security guards’ strike suspended after renewed talks
Strike action by security officers and CCTV operators at department store Harrods has been suspended following renewed talks with the company, Unite revealed on 21 February. The union is recommending members accept a new pay offer tabled by Harrods, which the union said was reached following “constructive negotiations and hard…
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12 February
Harrods security guards agree to five days of strike actions
Harrods security guards have announced a five-day strike action starting later this month in a dispute over pay. Security guards and CCTV operators at the department store, who are part of Unite the Union, voted 97% in favour of a strike action last month, after stating that they are being…
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11 February
M&S appoints Eoin Tonge as new CFO
Marks and Spencer has appointed Eoin Tonge as its new chief financial officer. Tonge is currently the CFO of Greencore Group, a position he has held since 2016. Prior to this, he was the managing director of the Grocery Business for two years and was previously the chief strategy officer…
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10 February
Selfridges managing director exits
Simon Forster, managing director of Selfridges has departed from the department store after just over a year in the position. According to The Sunday Telegraph, Forster “abruptly” left last week amid a “loss in confidence in his leadership.” Selfridges said Forster decided to “pursue other interests”, but Insiders told The…
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6 February
PETA buys Frasers Group stake amid anti-fur protests
PETA US has become a shareholder in Frasers Group, the animal rights group has announced. The move is in response to House of Fraser reportedly reversing its pledge to not to sell any fur products. The animal rights activists said that by breaking its previous pledge, the retail group was…
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5 February
John Lewis appoints new executive director
John Lewis has announced the appointment of Nina Bhatia as executive director, strategy and commercial development. Bhatia will commence her role on 17 February, and report to the company’s chairman, Dame Sharon White, as a member of the new executive team. She will move from her role as managing director…
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3 February
Beales slashes 32 head office roles following administration
Embattled department store chain Beales has announced 32 job cuts at its head office in Bournemouth, nearly two weeks after the group entered administration. KPMG said the joint administrators will be “providing support to those affected over the coming days”. However, KPMG confirmed that all of the chain’s stores remain…
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Jan- 2020 -20 January
Beales to vote on administration
Embattled department store chain Beales is on the brink of administration, with reports suggesting it will hold a meeting on whether to appoint KPMG as administrators later today (20 January). According to Sky News, the decision to appoint administrators will be held while the company still searches for a buyer.…
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