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 -14 April
Oasis and Warehouse set to call in administrators
Fashion retailers Oasis and Warehouse are reportedly set to appoint administrators, placing around 2,000 jobs at risk. According to Sky News, The Oasis and Warehouse Group, which is owned by Icelandic lender Kaupthing, is set to appoint Deloitte as administrators in the coming days. It comes after a potential sale…
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14 April
Co-op launches fund to help raise £30m for those hit by Covid-19
Co-op CEO Steve Murrells is to direct his own personal income to kick-start a new Co-op Members Fund, which will be channelled into foodbanks, a funeral hardship fund and front-line community causes. The Co-op boss said he will be donating 20% of his salary over a three-month period into the…
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14 April
Matalan owner reportedly seeking £60m amid store closures
The owner of Matalan, John Hargreaves, is reportedly seeking a cash injection of £60m to support the fashion retailer through the Covid-19 pandemic, after the group was “forced” to close its 232 stores. According to the Mail on Sunday, a statement issued to bondholders claimed the retailer had not faced…
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14 April
Covid-19: Amazon seeks 75,000 new hires
Amazon announced that it is looking to hire an additional 75,000 employees across its operations in light of the ongoing coronavirus crisis. The group said that it continues to see “increased demand” as its teams support communities amid the ongoing pandemic, and for this reason will create the additional 75,000…
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14 April
Next reopens online operations amid Covid-19 crisis
Next has announced the reopening of its website after a two-week shut down amid the coronavirus pandemic. The company made the decision to temporarily cease online orders on 26 March after concerns about the health and safety of its warehouse employees were raised. The fashion retailer will resume online operations…
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9 April
Debenhams enters administration
Embattled department store chain Debenhams has officially entered administration, and has appointed Geoff Rowley and Alastair Massey of FRP Advisory to handle the process. The group said it has entered administration to “protect Debenhams in the UK from the threat of legal action” that could have the effect of pushing…
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9 April
AAB calls on government to enhance support for businesses
Accountancy firm Anderson Anderson and Brown (AAB) has called on the UK Government to implement a series of “wide-reaching” measures aimed at helping businesses to survive the disruption caused by the Covid-19 pandemic. Lyn Calder, managing partner and also the firm’s head of deals for the Central Belt in Scotland,…
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9 April
Tesco defends £635m dividend payout
‘Big Four’ grocer Tesco has defended its £635m dividend payout to shareholders, despite it receiving a £585m tax break. Last night (8 April), the company’s board approved a final dividend of 6.50p, bringing the full-year dividend to 9.15p. According to the Guardian, Tesco chairman John Allan said paying its shareholders…
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9 April
H&M signs new £859m credit facility to strengthen liquidity amid Covid-19
Swedish clothing retailer H&M has revealed it has signed a new €980m (£859m) revolving credit facility as it looks to strengthen its liquidity amid the coronavirus outbreak. H&M said it is a 12 month deal with a six months extension option and is in addition to the company’s undrawn €700m…
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9 April
Arcadia seeks £50m in funding
Sir Phillip Green is reportedly seeking out £50m to prop up Arcadia Group amid the ongoing coronavirus crisis. According to Sky News, Green’s retail empire has approached banks and hedge funds in regards to borrowing £50m against its distribution centre in Daventry, Northamptonshire. The site, which opened last year, functions…
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