Year: 2019

Almost 6000 shops closed by major retailers this year, research finds

British retailing may be in “crisis”, after new figures from the Centre of Retail Research revealed that large high street retailers have faced a total of 5,834 store closures so far this year. CRR said this marked a 77% increase from the entirety of closures in 2018, when 3,303 large…

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Moss Bros poaches Ted Baker’s interim CFO

Moss Bros has announced the appointment of Bill Adams, Ted Baker’s current interim CFO, as its new CFO. Adams will take over the role from Tony Bennett, who has decided to step down from the board for “personal reasons” and will leave the business in February 2020. Adams will join…

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Conservatives pledge business rates review

The Conservative Party has pledged a business rates review which aims to “reduce the burden” on UK businesses, as part of its election campaign. It said business rates are one of the “top concerns” of British businesses, and added that a Conservative majority Government will launch a “fundamental review” at…

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Mothercare: what was its formula for failure?

Last week it was announced that Mothercare, a constant of the British high street for over 50 years, had become the latest retail casualty — with all of its 79 stores set to close. But what went wrong for the maternity and baby brand? Mothercare is one of many brands…

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Mike Ashley to seek turnover rents across Sports Direct Portfolio

Sports Direct owner Mike Ashley is reportedly seeking rent agreements with landlords that will see them linked to store performance. According to the The Sunday Times, Ashley has asked landlords to turnover rent agreements that will see up to 15% of the rent paid linked to store sales. It is…

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John Lewis and Waitrose to launch first ever concept store

John Lewis and Waitrose have announced the launch of a new ‘concept’ store, set to open in Southampton later this week.  The John Lewis Partnership said the store hopes to create “experience playgrounds” for customers, with greater focus on increasing hands-on experiences whilst shopping. The store will incorporate multiple new…

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Shoenvious launches in the UK

The luxury women’s shoe retailer Shoenvious is set to launch in the UK. The company, which allows customers to design and customise their own “one-of-a-kind” pair of shoes using an online 3D shoe designer, was founded in Dubai 2018 by husband and wife partnership Andrew and Saudin Noddings. Shoenvious currently…

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Is Boris sticking two fingers up at the Treasury Select Committee on Business Rates?

The worst fears from those who have read and welcomed the recent Treasury Select Committee report into business rates- that the next Government could well ignore them,- seem to be borne out by the latest Conservative party announcements on the “broken” business rates issue. Announcements last night from the Conservatives…

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Carpetright acquired by Meditor

Carpetright has been acquired by its largest investor Meditor Holdings Limited (MHL), in deal which values the retailer at £15.2m. The retailer announced that MHL will acquire the entire issued and to be issued share capital of Carpetright, which is not already owned by the investment management company, and shareholders…

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Boris Johnson pledges to invest in ‘left behind’ communities if Tories win

The Conservative party has proposed to reduce business rates for smaller businesses, in order to support “left-behind” towns, if they win the general election. The plans would offer support to businesses and the community, to keep the high streets open for business, save pubs and post offices, reconnect towns and…

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