Year: 2019

Former Debenhams and John Lewis director to launch own brand

Jo Hooper, a former womenswear director at John Lewis and Debenhams is set to launch her own clothing brand. Named Nrby, the new brand will launch with a pop-up store in London’s Belgravia area according to reports by Drapers with a website said to be launched later this week. Nrby’s…

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LK Bennett could collapse ‘in next few days’

Some 480 jobs may be at risk as high end fashion retailer LK Bennett has appointed audit firm EY as its administrator while the company seeks funding. As reported by Sky News, if the chain doesn’t gain access to investment in the next few days it will be forced into…

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Gap to close 230 stores

Fashion retailer Gap will close 230 of its stores over the next two years as part of a plan to “revitalise” its brand health. The company estimates an annualised sales loss of approximately $625m (£471m) as a result of these closures. Additionally, the company estimates pre-tax costs associated with these…

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Farfetch and JD.com expand partnership with Toplife merger

Farfetch, the technology platform for the luxury fashion industry, has announced the expansion of their strategic partnership with JD.com in order to create the “premier luxury gateway to China” for luxury brands. Under the agreement, JD.com’s Toplife will merge into Farfetch China while Farfetch’s 3,000 luxury brands will be made…

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Lego looks to break China despite cutting 8% of workforce

Lego has announced it is looking to expand into China despite the fact it is set to cut 8% of its global workforce. The company’s Chinese ambitions come following strong financial results for the 2018 financial year, which saw revenue rise by 4% up to £4.1bn during last year with…

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Business rates appeals drop under ‘complicated’ system

Businesses are struggling with the new ‘check challenge appeal’ (CCA) business rates appeals system, according to rating experts at Colliers International, commercial real estate agency and consultancy. New figures released by the government show that in the 21 months between 1 April 2017, when the new system for appealing against…

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Victoria’s Secret to close stores following Christmas ‘decline’

Victoria’s Secret has announced it is to close stores following a “decline in performance” over the second half of 2018. The retailer’s parent company L Brands, announced it was to close 53 of North American Victoria’s Secrets stores following the 2018 results which saw in-store sales fall by 7%. Victoria’s…

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Shop workers face highest risk of redundancy, report finds

Retail workers are more likely to be made redundant and face a longer duration of unemployment compared with employees in other sectors, a new report has found. The report – ‘Sorry, we’re closed’ – by the think tank the Resolution Foundation found the retail sector’s falling employment share is a…

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Boots reveals plans to cut 350 head office jobs

Health and beauty retailer Boots has announced it is looking to cut 350 jobs from its Nottinghamshire headquarters as part of a restructuring plan. Approximately 2,500 staff are employed at the office and the company said it was looking to reduce its costs by 20%. A 45 day consultation process…

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How can small businesses prepare for Brexit?

Unfortunately one of the most significant problems regarding Brexit is the uncertainty. It was in 1973 that the UK, along with Denmark and Ireland, joined the European Economic Community – as the EU then was. This was a time when the political, cultural and economic landscape was vastly different. As…

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