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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Nov- 2019 -4 November
Sir Philip Green in talks with lenders to raise £300m before Christmas
Arcadia owner Sir Philip Green is reportedly in talks with specialist lenders about acquiring a £300m loan before Chritsmas in order to pay off the loan secured against Arcadia’s flagship Oxford Street Topshop store. According to the Sunday Times, to meet the repayment deadline next month Green is in talks…
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4 November
Clintons in talks over possible CVA
Card and gift retailer Clintons could be eyeing up a potential CVA, after the retailer wrote to landlords last week inviting them to a “series of town-hall meetings” to discuss “possible closures and rent cuts”. According to Sky News, talks are set to start this week on what will happen…
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4 November
New flagship River Island store opens in Grosvenor Shopping Northampton
Fashion retailer River Island has opened a new flagship store in Grovesnor Shopping Northampton. The announcement comes from LGIM Real Assets (Legal and General), which revealed that the new unit will operate over 11,000 sq ft, with two trading levels of space. Following the centre’s refurbishment in 2015, this development…
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1 November
Mike Ashley’s holding company sees profits plunge 80% in 2018
Mike Ashley’s holding company, Mash Holdings, saw pre-tax profits plunge by 80% to £20.9m in 2018, according to recently filed accounts on Companies House. The group attributed the profits decline to its performance during the 2017 financial year, when the company saw increased profits from the sales of Dunlop and…
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1 November
Phillip Day loses £5.7m equity following Bonmarche collapse
Phillip Day has lost his £5.7m equity investment in Bonmarche, following its collapse into administration last month. Spectre Holdings Ltd, owned by Phillip Day, lost its multi-million investment when administrators from FRP were appointed to handle the administration process, In-Cumbria reported. Spectre provided Bonmarche with working capital and a “cost…
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Oct- 2019 -31 October
Carpetright in talks with largest investor Meditor over potential sale
Carpetright has announced it is in talks with its largest investor Meditor over a potential sale of the business, as it seeks a way to pay its debt facilities. Meditor, which currently has a 30% stake in the business has made an offer of 5p per share for the business,…
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30 October
Next Q3 sales affected by ‘unusually’ warm weather
Fashion retailer Next has reported a 6.3% decrease in retail sales for the three months to 26 October. The drop in sales was attributed to the group’s September trading, which was “adversely” affected by unusually warm weather. Additionally, it said “strong” sales in July pulled forward sales from August. Despite…
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29 October
Boots Q4 sales slip amid ‘challenging’ retail market
Health and beauty retailer Boots has reported a 2.1% decrease in sales in its fourth-quarter results, ending 31 August 2019. The retailer, which is owned by Walgreens Boots Alliance, also reported a 2.7% decrease in retail sales on a constant currency basis, attributing the decline to a retail market that…
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28 October
Mothercare appoints KPMG as advisers
Mothercare has appointed ‘Big Four’ accountancy firm KPMG as advisers to help assess its options for its embattled retail business. According to the Times, the decision comes as its chief executive Mark Newton-Jones has previously outlined plans to shift the UK side of the business into an independent franchise model,…
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28 October
Arcadia to move Topshop logistics to Daventry warehouse
Sir Phillip Green is allegedly moving Topshop and Topman’s logistics to Daventey distribution centre Arcadia announced over the summer that Topman was already being fulfilled from the new Daventry distribution centre, with plans to make Topshop live from the site in early 2020 Earlier this year, Arcadia opened a new…
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