Year: 2019

Burberry to scrap new Leeds factory

Fashion label, Burberry has announced it is to scrap its plans for a major factory in Leeds as it looks to sell the land it was set to be built on. The brand will sell 10 acres of land located next to the Grade I listed Temple Works building, after…

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Walmart mulls Asda sale following failed merger

Asda’s parent company Walmart is considering selling the ‘Big Four’ Grocer after its failed merger with Sainsbury’s was announced last month. According to the Daily Mail, the US giant is mulling a potential float or sale of the company after reported interest from bidders including some private equity firms. It…

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New Look reduces debts by £1bn

Fashion retailer New Look has announced it has reduced existing long term debt by £1bn to £350m, as part of its comprehensive financial restructuring. Furthermore, the restructure delivered £150m of new long term capital in the form of new Senior Secured Notes (SSN), which has been used to repay the…

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Debenhams to ask for 50% cut in business rates bills

Embattled department store Debenhams has reportedly planning to ask 30 local authorities to accept a 50% reduction in its business rates bill, as part of its proposed CVA. According to the Sunday Times, the department store’s creditors are set to vote on the proposal on Thursday (9 May). Small landlords…

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The North Face announces new VP sales in EMEA

Jeremie Blondel has joined The North Face as VP sales for the EMEA region, based out of its European HQ in Stabio, Switzerland. In his new role, Blondel will be responsible for the entire wholesale The North Face EMEA business, driving “strong brand momentum” across the EMEA region, and focusing…

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Why progressive web apps are the future of mobile commerce

It’s no secret that, while bricks-and-mortar retail is on the decline, e-commerce has been steadily growing in popularity. In fact, between December 2008 and December 2018, internet sales increased from 5.8% to 20% of total retail sales in the UK. However, while most retailers now recognise the importance of investing…

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Ikea appoints new country retail manager for UK and Ireland

Furniture retailer Ikea has appointed Peter Jelkeby as its new country retail manager with responsibility for the UK and Ireland. Taking over from Javier Quiñones, who joins Ikea USA as country retail manager, Jelkeby said he will lead the on-going transformation of the Ikea business at a “challenging time for…

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Poundland to sell Pep&Co brand in 500 stores

Discount retailer, Poundland has announced it is to sell its Pep&Co clothing range in 500 more stores, after announcing its introduction to 300 of its stores last year. The latest stores to stock Pep&Co, mean that all 850 of Poundland’s UK and Ireland stores will stock the clothing brand as…

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Sports Direct facing probe from financial regulators

Sports Direct is facing scrutiny from two financial regulators over its accounts and information relating to a possible bid for Debenhams. According to The Times, the Financial Conduct Authority (FCA) is looking into the retailer regarding the disclosure of information in relation to its bid for the department store. Questions…

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Anya Hindmarch to return as MD of handbag firm

Anya Hindmarch has announced she is to return as managing director of the handbag company which bears her name. The company’s founder stepped down from the role eight years ago after the business was bought by new owners, Hindmarch has remained on the company’s board as creative director, where she…

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