News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Nov- 2020 -10 November
New Look completes recapitalisation transaction
New Look has announced the completion of a “comprehensive” financial recapitalisation following the High Court’s sanction of New Look Financing’s scheme of arrangement. The recapitalisation is set to “significantly” reduce long-term debt for the group, whilst providing financial strength, funding and flexibility to “deliver a sustainable trading platform for the…
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10 November
Former Godiva CEO acquires Artisan du Chocolat
Artisan du Chocolat has announced the sale of a majority stake to Mohamed Elsarky, the former president and CEO of Godiva. Elsarky was responsible for the expansion of Godiva as a “luxury prestige retailer” of Belgian chocolates, and seeks to do the same for Artisan du Chocolat’s brand. He will…
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10 November
Pre-lockdown boost sees retail sales up 4.9%
UK retail sales increased by 4.9% on a total basis in the four weeks ended 31 October 2020, according to the latest BRC-KPMG retail sales monitor. In October, UK retail sales increased 5.2% against the 0.9% decrease the preceding year. During this period, like-for-like sales were measured excluding temporarily closed…
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9 November
Pfizer reveals Covid-19 vaccine candidate is 90% effective
A successful Covid-19 vaccine is a step closer after Pfizer/Biontech revealed its vaccine candidate is 90% effective, according to its first interim analysis. The findings, which are well above the 50% effectiveness for a vaccine to be approved, comes following a clinical trial which involved over 43,000 people. Some 42%…
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9 November
Frasers Group claims to have been ‘frozen out’ of EWM bid
Mike Ashley’s Frasers Group has reportedly claimed it has been “frozen out” of the auction to acquire three brands from the recently collapsed Edinburgh Woollen Mill Group. According to The Telegraph, Frasers Group “expressed interest”, in the purchasing of Jaeger, Peacocks and Edinburgh Woollen Mill, however it claims consultants at…
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9 November
Harrods forced to reorganise £200m credit
Harrods has been forced to reorganise its £200m credit line due to the second national lockdown causing the closure of its flagship Knightsbridge store. According to The Sunday Times, the department store negotiated a revolving credit facility with the Qatar National Bank in August, to avoid breaching covenants it made…
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9 November
Landlords hit back at Clarks CVA terms
Landlords are reportedly accusing Clarks of abusing its insolvency processes, as the retailer pushes forward with a CVA that includes turnover-based and zero rental terms. According to a report by The Sunday Times, Clarks’ proposed CVA is “likely” to detrimentally impact landlords, who account for less than 25% of creditor…
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8 November
John Lewis calls for clarity on store reopenings
John Lewis has issued a plea to the government to provide clarity on whether its stores will be able to reopen in early December. According to The Daily Mail, the department store chain has called for clarity “as soon as possible” as its larger stores would need time to re-open…
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6 November
Dominic Chappell jailed for six years for tax evasion
The former owner of BHS, Dominic Chappell, has been jailed for six years for evading paying tax from the deal which saw him acquire the now defunct department store. According to Sky News, Chappell was convicted after he failed to pay £580,000 in tax on the £2.2m income he gained…
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6 November
Superdry H1 revenues fall 23.3%
Superdry has announced that total revenue fell by 23.3% in the half-year period ended 24 October 2020, reflecting the challenging trading environment attributed to the continued disruption from Covid-19. Like-for-like store trading in the last six weeks of H1 was down 32.4%, with UK trade impacted by continued social distancing…
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