Year: 2019

Select calls in admins, 2,000 jobs at risk

Fashion retailer Select is preparing to call in administrators, putting 2,000 jobs at risk, it has been revealed. According to Retail Week, Select filed a notice of intention to appoint an administrator to the high court on Wednesday. Quantuma, the advisory firm, has been lined up to handle the administration…

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Fragrance Shop gets a whiff of ASA criticism

The Fragrance Shop has seen two adverts offering 60% and 15% off the RRP of certain products banned, after the Advertising Standards Agency (ASA) called them “misleading”. Two complainants told the ASA that they felt the adverts, seen in November 2018, could be misleading. The first advert featured on the…

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March consumer confidence ‘holds steady’

Market research company GfK’s long-running Consumer Confidence Index has showed that confidence among consumers in the UK stayed at the same level of -13 in March. Personal finances during the last 12 months has stayed the same this month at 0; three points lower than March 2018. The forecast for…

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Debenhams advisors should be ‘put in prison’, says Mike Ashley

Mike Ashley has hit out at Debenhams after the department store agreed on a refinancing scheme which could see its shareholders’ stakes wiped out. Debenhams released a statement yesterday (28 March) saying its bondholders were expected to back a £200m restructuring loan. In response, Ashley said “if there were any…

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Debenhams bondholders to back £200m restructuring loan

Debenhams bondholders are expected to back a £200m restructuring loan, with a statement today claiming a majority had “provided consent to the amendments sought to the existing notes”. The deadline for bondholders to accept the loan is 5pm tonight (28 March). News of a loan will come as a blow…

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Shop Direct rebrands to The Very Group

Shop Direct, the digital retailer and financial services provider, has announced plans to rebrand to The Very Group, in order to bring its name and identity in line with its flagship consumer brand Very.co.uk. The company revealed the new corporate identity, which will be unveiled later this year, will support…

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Retail sales fall in March

Retail sales volumes fell in the year to March, compounding a “subdued start to 2019”, according to the latest monthly CBI Distributive Trades Survey. The survey of 105 firms, of which 50 were retailers, showed an 18% drop in retail sales volumes, the fastest contraction in 17 months and marking…

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Who are the most impulsive online shoppers in the UK?

The debate rages on as to whether the high street is finished or not, but the exponential rise of online shopping cannot be questioned. The ease in which you can locate an item and have it delivered to your door the next day has meant more and more people now…

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Arcadia ‘draws up list of 67 store closures’

Arcadia has listed 67 stores it wishes to close across all of its brands, the Financial Times has reported. As seen by the publication, stores of varying sizes across the UK and Ireland with a total annual rent of £11m are set to be shut. These include Burton, Topshop, Evans,…

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Shopper satisfaction with online delivery falls

New research has suggested that there has been a “notable decline” in shopper satisfaction with online delivery, after several years of it remaining stable. The findings come from the IMRG Consumer Delivery Review 2018, an annual survey asking 2,000 UK shoppers 50 questions to understand their perceptions of online delivery.…

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