Year: 2019

Bathstore goes into administration putting 500 jobs at risk

Bathroom retailer Bathstore has appointed audit and business advisory firm BDO as administrators as the company attempts to be sold as a going concern. The retailer has 135 stores across the UK and employs 531 staff; it will continue to trade as normal. Ryan Grant, BDO business restructuring partner, said:…

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How technology has boosted the retail supply chain

In today’s world of digital marketing and both on and offline competition, technology is growing in importance for retail businesses. But how has it affected the supply chain specifically? Read on as we explore how technology has transformed and helped businesses maximise their supply chain efficiency, including making deliveries speedier…

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Bonmarche asks shareholders to accept Philip Day offer

The board of embattled womenswear retailer Bonmarché has reversed its opposition to Edinburgh Woollen Mill owner Philip Day’s £5.7m offer for the company and has asked shareholders to accept the offer. In an update to shareholders the board explained its change of stance citing “poor” trading during the first quarter…

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Cash Converters acquires 28 pawn books from The Money Shop

Second hand retailer, Cash Converters, has acquired pawnbroking loan books from The Money Shop, after the instant cash loan company closed a selection of branches across the UK. As part of the deal, Cash Converters have acquired 28 books, which span the breadth of the UK. Nine franchisees have taken…

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Gear4music swings to almost £600K loss despite sales spike

Music equipment and instrument retailer Gear4music has posted losses before tax of £600,000 for the 13 months ended 31 March 2019. EBITDA also declined to £2.3m during the period, £1.2m lower than 2018. Despite this, revenue increased by 48% to £118m during the period, compared with £80m recorded the previous…

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New shopping centre to open in old Eurostar terminal

Commercial developer London and Continental Railways (LCR), has announced plans to open a new shopping centre, Waterloo.London based in a former Eurostar terminal. The centre is expected to open in 2021, the 135,000 sq ft development will include 40 retail units, a mezzanine, and public spaces along a new pedestrianised…

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Turning savvy shoppers into loyal customers

Omnichannel shopping has presented retailers with new opportunities to utilise a multitude of customer touchpoints relating to purchases, offers and product launches, to push their brand to the forefront of consumers’ minds and obtain mass customer engagement data, often within a single day. This data can be utilised by brands…

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EWM income rises after acquisitions

Retailer Edinburgh Woollen Mill (EWM) has announced a significant increase in revenue to £936m for the 18-month period to August 2018, compared to the 12-month period to February 2017, which included the purchase of Jaeger after it went into administration. The results, which were published on Companies House, also saw…

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Carpetright restructure bears fruit amid return to sales growth

Carpetright has reported its business turnaround is “on track” amid an “encouraging return to positive like-for-like sales growth”. The carpet retailer revealed in a trading update for the year ending 27 April 2019, that despite a “challenging first half” with group like-for-like revenues down 12.7%, UK like-for-like sales in the…

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New Look reports £522m loss amid cost saving efforts

Fashion retailer New Look has reported a statutory loss before tax of £522.2m in its full year results for the 53 Weeks to 30 March 2019. This was compared to the previous year’s loss of £190.2m, however the company said this was “principally driven” by £423.3m goodwill and brand impairment…

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