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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Mar- 2020 -31 March
Consumer confidence slips in March
Consumer confidence in the UK decreased by two points to -9, according to the latest figures from the GfK. Within the group’s consumer confidence index, one measure increased, three measures decreased, and one measure remained the same in the month of March. The personal finance situation index for the last…
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28 March
Brighthouse set to call in administrators
Rent-to-own home furnishings brand Brighthouse is reportedly set to call in administrators, placing around 2,400 jobs at risk. According to the BBC, it comes after an increase in compensation claims for selling to people who could not repay due to the coronavirus outbreak. Brighthouse is thought to be the largest…
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27 March
Mike Ashley apologises for ‘ill-judged’ Covid-19 response
Sports Direct CEO Mike Ashley has penned an open letter apologising for the Fraser Group’s response to the Covid-19 lockdown. It comes after reports that Ashley lobbied the government to keep Sports Direct open and was still asking employees to still come to work at the high street retailer. Newcastle…
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26 March
Primark to withhold £33m rent on closed stores
Primark has revealed it is withholding its quarterly rent on closed stores, in a bid to negotiate a deal with landlords that could help mitigate financial losses amid the UK lockdown. According to the Guardian, the payment was meant to cover rent and service charges for a large majority of…
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25 March
Covid-19: Government suspends gender pay gap reporting
The Government Equalities Office (GEO) and the Equality and Human Rights Commission (EHRC) has taken the decision to suspend enforcement of the gender pay gap deadlines for this reporting year (2019/20) due to the coronavirus outbreak. The GEO and EHRC said the decision means there will be no expectation on…
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25 March
New Look asks landlords for three-month rent holiday
High street fashion retailer New Look has asked its landlords for a three month rent holiday as it looks to reduce costs during the coronavirus outbreak. In a trading update, the retailer revealed a series of measures focused on preserving cash, maximising liquidity, managing working capital. The measures include: Significantly…
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24 March
McColls announces stores remain open amid Covid-19 virus outbreak
McColls Retail Group has today announced that it is to keep its stores open amid the coronavirus pandemic. The convenience retailer said it has put into place a range of policies “designed to protect our colleagues and customers, keep our stores open and trading safely, and to enable our head…
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24 March
Covid-19: UK retail spending to fall by £12.6bn
The impact of the coronavirus pandemic will wipe £12.6bn from retail sales this year, according to the latest forecast by GlobalData. The data and analytics company said that the figure was the equivalent of Aldi’s total UK sales last year. The total retail market for 2020 is now expected to…
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24 March
Covid-19: Debenhams, Ted Baker and The Works latest to close stores
Debenhams, Ted Baker and The Works are some of the latest retailers to close stores amid the coronavirus pandemic sweeping the UK. Debenhams said it took the “tough decision” to close stores yesterday evening as a result of the current circumstances, but hopes to reopen as soon as it is…
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23 March
H.Samuel announces temporary store closures amid Covid-19 virus outbreak
High street jewellery store H. Samuel has announced the temporary closure of all its stores amid the recent outbreak of the Covid-19 virus. The retailer announced all store closures will take effect from today (Monday 23 March) but its website will be “open as usual.” In a statement, the retailer…
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