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- 2018 -27 February
Maplin rescue talks falter as deadline approaches
Maplin is rushing to find new capital to save it from falling into administration, with talks with a potential buyer stalling. According to Sky News, the electronics retailer is locked in talks with its potential buyer Edinburgh Woollen Mill (EWM) – the high street empire that includes Jaeger and Dorothy…
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26 February
Primark sales drop due to ‘unseasonably warm weather’
Sales at Primark took a hit in autumn following a spell of unseasonably warm weather, but the fashion retailer still expects profit growth to pick up this year. In the 24 weeks to March 3, Primark’s owner Associated British Foods (AB Foods) said like-for-like sales at Primark were expected to…
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26 February
Toys R Us could go bust ‘within days’, 3200 jobs at risk
Toys R Us looks set to go into administration within days, as the toy retailer faces a £15m debt. Last minute discussions with potential buyers fell through last week and it now looks likely that the retailer is set for a collapse. In a statement earlier this year, the firm…
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26 February
Leaked email reveals Philip Green ‘asked HSBC to find Arcadia buyer’
A newly leaked email suggests that Philip Green enlisted the help of HSBC to find a buyer for the Arcadia Group, despite his claims to the contrary last week. According to reports Green met with the banking giants managing director David Barraclough and UK chief executive Ian Stuart back in…
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26 February
90% of small firms not prepared for new data regulation
Over a third of small businesses have not yet started preparing for the introduction of the General Data Protection Regulations (GDPR), according to the Federation of Small Businesses (FSB). A further third (35%) are only in the early stages of preparation, claims the new research published today. Only 8% of…
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21 February
Homebase and Bunnings owner sees profits plummet in 2017
Wesfarmer, which owns DIY stores Homebase and Bunnings, has revealed profits for the second half of 2017 were down by 86.6%. Wesfarmers said that five loss-making Homebase branches were closed between July and December 2017, but it added it was hopeful business would improve during the UK spring and summer.…
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21 February
UK retailers ‘self-restricting’ growth due to limited payment options
The UK’s top retailers are limiting online sales potential by up to 30% by not offering a range of payment options. A study, carried out by ecommerce and digital agency Visualsoft, found that almost one in five (19%) of the UK’s top 240 retailers are failing to offer a payment…
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20 February
Philip Green says Arcadia sale rumours are ‘totally false’
Sir Philip Green and board members at the Arcadia Group have denied reports of being in negotiations to sell the company to a Chinese firm. Reports on February 18 claimed that Green was looking to sell parts of, if not all of, his retail conglomerate which owns Topshop, Miss Selfridge,…
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19 February
Third of SME retailers expect Bitcoin on high street in two years
Cryptocurrency will be a regular thing on the UK high street say a third of SME owners.A study conducted by payments provider Paymentsense showed that 35% of SME owners surveyed expected to see Bitcoin and other forms of cryptocurrency on the high street within the next two years. Over a…
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19 February
Philip Green considers selling Arcadia to Chinese firm
British retail magnate Sir Philip Green is reportedly in talks to sell part of the Arcadia Group to a Chinese textiles giant. Reports said that Chinese firm Shandong Ruyi has already held negotiations and looked over the books of the retail conglomerate, which owns Topshop, Miss Selfridge, Burton and Dorothy…
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