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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Apr- 2020 -24 April
UK consumer confidence remains steady despite nearing record low
GfK’s long-running Consumer Confidence Index has remained at -34 for April, only five points away from the record -39 low seen in July 2008. The measure for the general economic situation of the country during the last 12 months dropped by four points to -44 during the period, which is…
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23 April
Animal set to shutter entire UK estate by 2021
Fashion brand Animal is reportedly set to shutter its entire UK estate by 2021, placing almost 500 jobs at risk. According to a report by the BBC, the brand’s owner H Young Holdings said the closure could come as early as January of next year, and added that the move…
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22 April
Cath Kidston shutters entire UK estate, over 900 staff made redundant
The administrators of Cath Kidston have confirmed that all 60 Cath Kidston stores in the UK have now closed, resulting in 908 staff being made redundant. Richard Fleming and Mark Firmin from restructuring practice Alvarez and Marsal were appointed as joint administrators to Cath Kidston yesterday. Immediately following the administrators’…
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21 April
Cath Kidston bought out of administration by owner
Global lifestyle brand Cath Kidston has been bought out of administration by its parent company Baring Private Equity Asia (BPEA) in a pre-pack deal. The management team of Cath Kidston today (21 April) confirmed that parts of the business have been transferred by administrators, Alvarez and Marsal, following an independent…
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17 April
Laura Ashley appoints third administrator amid Covid-19 crisis
Embattled retailer Laura Ashley has appointed a third administrator amid growing pressure from the coronavirus pandemic sweeping the UK. PwC has confirmed that Rachael Wilkinson, business restructuring services director at the firm, has been appointed to support the business during this time. She joins Rob Lewis and Zelf Hussain of…
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16 April
Dunelm CEO takes 90% pay cut as company seeks coronavirus loan
Homeware retailer Dunelm has announced its CEO, Nick Wilkinson, has taken a 90% pay cut as it confirmed it is eligible for a coronavirus loan. Dunelm also announced that the executive management team has also taken a 20% pay reduction with its chairman and non-executive directors waiving 100% of their…
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14 April
Matalan owner reportedly seeking £60m amid store closures
The owner of Matalan, John Hargreaves, is reportedly seeking a cash injection of £60m to support the fashion retailer through the Covid-19 pandemic, after the group was “forced” to close its 232 stores. According to the Mail on Sunday, a statement issued to bondholders claimed the retailer had not faced…
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2 April
The Perfume Shop shuts online operations, affecting over 1,800 jobs
Fragrance retailer The Perfume Shop has announced the closure of its online operations amid the coronavirus outbreak, affecting over 1,800 jobs. The company, which had closed its 231 stores late last month following government guidelines that all shops would have to close, except those selling essential items, said it has…
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1 April
JD Sports to withhold quarterly rent amid Covid-19 lockdown
Sports fashion retailer JD Sports has announced it is withholding its quarterly rent in bid to mitigate the effects of the UK lockdown. According to The Guardian, JD Sports has not paid the rent due for its 390 stores, and is reportedly in discussions with the next bill due in…
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Mar- 2020 -31 March
Poundland to temporarily close 32 UK stores amid Covid-19 outbreak
Discount retailer Poundland has announced the temporary closure of 32 of its stores amid the Covid-19 virus outbreak, resulting in staff receiving 80% of their average earnings due to the government’s Jobs Retention Scheme. Shop workers’ trade union Usdaw said the retailer is asking employees to voluntarily agree to be…
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