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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Feb- 2019 -5 February
Oliver Bonas to open eight new stores in 2019
Fashion and jewellery retailer Oliver Bonas will open eight new stores in 2019, creating at least 80 new jobs as the firm enters new markets across the UK. The company said that “despite a turbulent retail climate”, Oliver Bonas has experienced “increasing demand” for its stores in new regions across…
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5 February
HMV bought by Sunrise Records
HMV has been bought by Canadian record store chain Sunrise Records, the deal will save 100 stores and 1,487 jobs, while 27 stores are expected to shutter resulting in 455 redundancies. No price has been given for the entertainment retailer, with staff expected to be notified if their store is…
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4 February
Mike Ashley acquires Sofa.com
Sports Direct owner Mike Ashley has acquired Sofa.com for a “nominal sum”, adding yet another business to his growing portfolio of high street retailers. According to a report by Sky News, the acquisition will enable Ashley to add further Sofa.com concessions to the House of Fraser (HoF) chain he bought…
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4 February
Canadian record shop owner ‘enters race’ for HMV
Doug Putman, the owner of Canadian record store chain, Sunrise Records, is said to be interested in purchasing HMV. The retail boss would rival Sports Direct owner, Mike Ashley, who has already placed a bid for the entertainment retailer. HMV administrators KPMG refused to comment on Putman’s interest, which was…
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1 February
Oddbins falls into administration
Off licence chain Oddbins has fallen into administration with parent company European Food Brokers (EFB) blaming the deterioration of the high street, Brexit and “economic uncertainty”. Duff & Phelps has been appointed to run the business and help it to find a buyer. Oddbins has 45 outlets across the UK…
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1 February
Moss Bros eyeing Debenhams interim chair
Fashion retailer, Moss Bros is looking at Debenhams interim chair Terry Duddy to replace its outgoing chair Debbie Hewitt. Duddy, who used to lead Home Retail Group, the group responsible for Argos, Habitat and Homebase is on a shortlist of targets according to reports by Sky News. Duddy took over…
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1 February
ScS ends Sofa.com talks paving way for Mike Ashley
ScS has ended its interest in acquiring rival furniture retailer Sofa.com stating it is “no longer in discussions”, leaving Sports Direct owner Mike Ashley in prime position. Both Mike Ashley and ScS had expressed interest in acquiring Sofa.com. However ScS today (1 February) said in an update: “The group confirms…
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1 February
MPs launch business rates inquiry
The Treasury Committee has launched a new inquiry into business rates to scrutinise how government policy has impacted high street businesses. The committee will examine how business rates policy has changed, including business rates retention, alternatives to property-based taxes, such as the proposed digital services tax. Nicky Morgan MP, chair…
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Jan- 2019 -31 January
Arcadia fined £450k after girl fractures skull in Topshop
Philip Green’s retail group Arcadia has been fined £450,000 after a 10-year-old girl was hit on the head by a queue barrier in Topshop, resulting in a fractured skull. The incident happened at Glasgow’s Silverburn shopping centre in February 2017 when the girl, now aged 12, was shopping with her…
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30 January
Mike Ashley and ScS in competition over Sofa.com
Both Mike Ashley and rival furniture retailer ScS have expressed interest in acquiring Sofa.com. ScS has confirmed via a statement its interest in Sofa.com which was put up for sale last month. It said: “The group confirms that ScS Group is in discussions regarding a potential acquisition of the business…
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