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- 2023 -31 August
Former Debenhams staff win legal battle against retailer
More than 400 former Debenhams staff who lost their jobs after the company went into administration have won a legal battle against the business after a tribunal judge ruled that the retailer had failed in its duty to consult with its staff. As a result, lawyers representing the workers said…
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30 August
Bank holiday boosts footfall by 10.5% on Sunday
Footfall on Sunday (27 August) was +10.5% higher than the week before, rising in all three destination types; by +9% in high streets, by +9.8% in retail parks and by +14.2% in shopping centres thanks to bank holiday Monday. According to the latest data from MRI Springboard, whilst footfall rose…
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30 August
Wilko bidder criticises PwC over bidding process
Restructuring specialist M2 Capital has reportedly criticised the administrators of Wilko after submitting a last-minute offer to rescue the retailer. According to The Financial Times, M2 wrote to PwC chair Bob Moritz earlier this week to criticise the bidding process and question whether it was “fair and transparent” after submitting…
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30 August
The Works revenues up 5.8% in FY23 despite ‘challenging’ backdrop
The Works’ revenues increased by 5.8% to £280.1m for the year ended 30 April 2023, up from £264.6m in FY22, and as such, the retailer said it is well-positioned to capitalise on opportunities from its strategy in the coming year. The value retailer of arts and crafts, stationery, toys, and…
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29 August
Natura and Co considers Body Shop sale
Natura and Co is considering potentially selling The Body Shop as a result of its poor post-pandemic performance. The company confirmed in an SEC filing that it was exploring “strategic alternatives” for the business. JP Morgan analysts believe that a sale is the most likely outcome, with the business being…
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29 August
Clintons to shut 38 stores as part of restructuring plan
Clintons is reportedly set to close 38 stores in a bid to stave off its collapse for at least 12 months after a restructuring plan was approved by an insolvency court. According to the Evening Standard, the plan allows the retailer to escape full payment of business rates and rent…
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25 August
HMV owner makes last-ditch bid for Wilko
Canadian businessman Doug Putman has reportedly made a last-ditch attempt to rescue parts of Wilko in a move that could save up to 4,000 jobs, The Times has reported. According to The Times, Putman, who purchased HMV in 2019, has held talks with Wilko’s management team and administrators from PwC…
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24 August
Majority of Wilko stores to close ‘within weeks’
The majority of remaining Wilko stores are set to shutter “within weeks” and redundancies are expected to begin after the embattled retailer failed to secure a buyer, the GMB Union has warned. The union said it was recently informed by administrators that there was “no longer any prospect that the…
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22 August
Cake Box like-for-like sales rise 6.8%
Cake Box’s franchisee stores reported a like-for-like sales increase of 6.8% for the first 17 weeks of FY24 ended 31 March, showing an increase from 5.4% like-for-like sales growth for the first 11 weeks. The specialist retailer of fresh cream cakes attributed its performance to tight cost control and proactive…
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16 August
Axing tourist tax would ease high street woes, says Pandora boss
Pandora UK&I general manager Rasmus Brix has said that in light of the cost-of-living crisis and ongoing train strikes, eliminating the tourist tax would create a “significant boost” for the high street. Brix told The Mail the firm was “missing out” due to the absence of VAT-free shopping for visitors…
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