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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Aug- 2019 -27 August
Carpetright debt absorbed by shareholder
Carpetright shareholder Meditor is set to absorb the retailer’s £40.7m revolving credit facility, purchasing it from lenders Natwest and Ulster Bank. The private investment company controlled by former Old Mutual fund manager Talal Shakerchi said it plans to engage with Carpetright to provide “longer-term, stable funding”. Meditor has said it…
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23 August
Reiss group sales soar by 23.7% in H1
Fashion brand Reiss has seen group sales rise by 23.7% for the first half of 2018, alongside announcing an advertising deal for its Autumn Winter campaign. For the 26 weeks to 3 August 2019, total group sales grew by 23.7% to £102.9m, compared with £83.2m last year. Like for like…
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22 August
Tobar places Hawkins Bazaar up for sale
Toy and gift retailer Hawkins Bazaar has been brought to the market by its owner Tobar International. The retailer, which began life as a mail order sales business in the 1970s, has grown over the years to include an online retail platform and national portfolio of 23 stores, most of…
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21 August
Sports Direct approaches mid-tier firms in race for new auditor
Sports fashion retailer Sports Direct has approached mid-tier accountancy firms BDO and Mazars as it races to appoint a new auditor, according to a report by the Financial Times (FT). FT said the retailer is aiming to avoid government intervention and a possible suspension from the London Stock Exchange (LSE)…
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20 August
House of Fraser extends administration period to 2020
Embattled department store retailer House of Fraser (HoF) has had its administration period extended to 10 August 2020, after being approved by its creditors. According to a report by Drapers, documents on the process of the administration will be released later on this week by ‘Big Four’ accounting firm EY.…
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20 August
Whittard of Chelsea CEO departs
Tea and coffee specialist Whittard of Chelsea’s chief executive Mark Dunhill has resigned, with finance chief Nathan Smith taking the role. Dunhill tended his resignation on 31 July after five years at the retailer. He led the restructure of the retailer, and was involved in the “revitalisation” of its product…
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19 August
Over 600 JD employees to protest against break reductions
Over 600 employees at footwear retailer JD Sports have signed up to a grievance against the company’s proposals to reduce the number of breaks in 12 hours shifts at its distribution centre in Rochdale. The number of breaks during a typical 12-hour night shift has reduced from three to two,…
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16 August
Sports Direct shutters eight Jack Wills stores
Sports Direct has announced the closure of eight Jack Wills stores, according to a report by the Financial Times. The affected shops are located in Marlborough, Derby, Reigate, Rock, Tunbridge Wells, Durham, Kingston and St Albans. Sports Direct acquired Jack Wills from administration on 6 August, after administrators KPMG accepted…
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15 August
Wyevale sells John Browns site to Hillier Garden Centres
Wyevale Garden Centres has announced the sale of its John Browns site to Hillier Garden Centres. It’s the second transaction with Hillier following the sale of four centres in April. The store will continue to be run as a garden centre and the sale is expected to complete by the…
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14 August
Steinhoff confirms refinancing after accounting ‘scandal’
Poundland owner Steinhoff has confirmed refinancing of €9bn (£8.3bn) of debt after the company was involved in an accounting ‘scandal’ over the last few years. The group announced this in its half year report, where European revenue rose by 13% to €1.7bn (£1.57bn) for the period up to 31 March…
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