High Street
The latest news, updates and analysis on the the British High Street and 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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Jan- 2021 -6 January
M&S close to Jaeger deal
Marks and Spencers is reportedly close to signing a deal to purchase Jaeger from Philip Day’s Edinburgh Woollen Mill group which collapsed into administration last year. According to Sky News, M&S could reach an agreement to acquire the store as early as this week. In November last year the store…
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5 January
1,500 jobs at risk as Paperchase calls in administrators
Paperchase, the UK-based stationary store chain, has reportedly called in administrators due to a lack of sales caused by Covid-19. A spokesperson confirmed to Retail Sector that a notice has now been filed to appoint administrators from PwC to oversee the administration. It comes as reports show that during November…
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5 January
BRC says national lockdown will be severe on businesses
The British Retail Consortium (BRC) has released a response to the latest lockdown restrictions imposed by the government stating the “severity” it will have on businesses. The restrictions announced yesterday (4 January 2021) force the closure of all non-essential retail, pushing the UK back into a lockdown similar to March.…
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4 January
Arcadia to offload flagship Topshop store
Arcadia Group has announced that Eastdil and Savills have been hired to oversee the sale of retail chain Topshop’s flagship store in central London. According to Sky News, Eastdil will reportedly handle the sale strategy for the building, whilst Savills will advise on future leasing options. It comes after the…
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Dec- 2020 -24 December
Ann Summers CVA approved by creditors
Ann Summers has announced that its CVA has been approved by 90% of its creditors, which will see 25 of its stores move to a turnover-based rent system. In a statement, the lingerie store outlined the plans of the agreement with additional funding of up to £10m now being made…
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18 December
Retail sales down 3.8% in November
Retail sales in November were down 3.8% compared to the previous month, according to the latest figures published by the ONS. The office reported that the decline in sales was a result of many stores’ decisions to cease trading following government guidance during the coronavirus pandemic. Figures show that in…
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16 December
Two thirds of shoppers feel unsafe on UK high streets
Almost two thirds of shoppers (61%) in the UK still feel unsafe when shopping on their high streets, according to new research carried out by retail analysts Maybe. The survey of 2,000 people, which took place in early December, revealed the public want retailers to do more to ensure their…
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11 December
McColl’s revenue tops £1.25bn despite store closures
McColl’s revenue has increased by 2.3% to £1.25bn this year in light of “strong demand” during the pandemic, according to the group’s full year trading report. In the year ended 29 November 2020, the convenience retailer’s like-for-like sales surged by 12%, due to a “strong performance” across its food, drink…
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3 December
Post-lockdown footfall increases by 64.5%
Springboard has revealed that footfall across all UK retail destinations was 64.5% higher yesterday ( Wednesday 2 December) than the Wednesday prior, as the nationwide lockdown came to an end. The increase in activity was seen to have occurred most in high streets and shopping centres increasing 80.4% and 133.2%…
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2 December
Bonmarche calls in administrators, 1,500 jobs at risk
Bonmarche has collapsed into administration for the second time this year, placing 1,500 jobs at risk. Damian Webb and Gordon Thomson of RSM have been appointed as joint administrators of the store, with the “intention to continue to trade” while options for the company were explored. In a statement the…
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