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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Apr- 2020 -20 April
Debenhams closes seven stores amid further landlord talks
Debenhams has announced the permanent closure of seven of its stores resulting in the loss of 422 jobs and has entered negotiations with landlords over some of its remaining stores. The department store chain, which entered administration earlier this month, closed seven of its sites including its Westfield Shepherds Bush…
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20 April
Coronavirus Job Retention Scheme portal goes live
The portal for the Coronavirus Job Retention Scheme is now live, with the government saying that businesses with validated claims will receive payments within at least six days. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee, subject to…
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20 April
DFS remains ‘confident’ as it plans equity raise
DFS has confirmed that it is in the advanced stages of negotiating an additional debt facility amid the ongoing coronavirus pandemic. The furniture retailer is now seeking between £60m and £70m of funding with its existing lending banks in order to supplement its existing bank facility of £250m. This additional…
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20 April
Patrick Guido steps down as Lululemon CFO
Lululemon has announced that its CFO, Patrick Guido, will be stepping down to assume a position outside of the apparel industry, effective 8 May. Guido, who joined the brand in 2018, has previously held positions at VF Corporation and The Home Depot. Lululemon has also commenced the search process to…
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17 April
Laura Ashley appoints third administrator amid Covid-19 crisis
Embattled retailer Laura Ashley has appointed a third administrator amid growing pressure from the coronavirus pandemic sweeping the UK. PwC has confirmed that Rachael Wilkinson, business restructuring services director at the firm, has been appointed to support the business during this time. She joins Rob Lewis and Zelf Hussain of…
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17 April
Chancellor extends coronavirus loan scheme to bigger firms
The Coronavirus Large Business Interruption Loan Scheme has been extended to include businesses with turnover greater than £500m. The £330bn package now allows all firms with a turnover of greater than £45m to apply for loans of up to £25m. Initially, businesses with a turnover of more than £500m were…
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17 April
Covid-19: EWM introduces pandemic clauses into Bonmarché leases
Edinburgh Woolen Mill (EWM) is reportedly introducing pandemic clauses into any new Bonmarché leases it is due to sign with landlords, after its owner Phillip Day bought the firm out of administration last year. According to Retail Week, the new clauses mean EWM can agree on new Bonmarché store leases…
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17 April
TM Lewin seeks interested buyers
TM Lewin is reportedly in talks with potential buyers in light of the ongoing effects of the global pandemic. According to Sky News, the London-based retailer is now up for sale just days after Oasis and Warehouse collapsed into administration. Bain Capital, the private equity group that has backed TM…
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16 April
Government extends lockdown for ‘at least’ three more weeks
The government has announced an extension to the coronavirus lockdown for “at least” a further three weeks. The decision was announced at today’s (16 April) press briefing which was led by foreign secretary Dominic Raab. It also comes after Raab led an emergency Cobra committee and cabinet meetings about the…
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16 April
Waitrose launches initiatives to support ‘most vulnerable’ suppliers
Waitrose has revealed a number of initiatives it has launched to support its most vulnerable suppliers during the Covid-19 pandemic. As well as supporting British producers and farmers, the supermarket said it is helping the “most vulnerable” communities in developing countries that supply food and other products through the Waitrose…
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