Administration
This coverage explores retail administrations and insolvencies within the UK market, examining the circumstances, decisions, and consequences for businesses, employees, and creditors. Reporting highlights notable cases, restructuring efforts, store closures, and leadership actions aimed at recovery or winding down. Designed for executives and managers, it offers insights into risk, resilience, and lessons from commercial failures.
-
Jun- 2024 -19 JuneNews
Amazon to invest £23m in skills training for UK employees
Amazon has announced that it is investing £23m in skills training for employees across the UK. The announcement comes as a new study by the retailer found that 61% of UK workers believe that on-the-job skills training or apprenticeships are more valuable for preparing people for work than traditional university…
Read More » -
12 JuneNews
Today’s news in brief-12/6/24
The UK economy stalled in April 2024, showing no growth after a 0.4% increase in March, as wet weather significantly dampened consumer spending, according to the Office for National Statistics. Services output did rise by 0.2% for the fourth consecutive month and grew by 0.9% over the three months to…
Read More » -
12 JuneNews
Ex-BHS directors fined £13m over ‘wrongful trading’
Two former directors of department store chain BHS have been ordered to pay at least £13m to creditors over their involvement in the collapse of the retailer in 2016. High Court judge Justice Leech has fined Lennart Hennington and Dominic Chandler £6.5m each after finding them liable for wrongful trading…
Read More » -
May- 2024 -24 MayNews
Today’s news in brief-24/5/24
In April, retail sales volumes dropped by 2.3% following a 0.2% decline in March, primarily due to ongoing wet weather, as reported by the Office for National Statistics (ONS). Non-food stores experienced a significant 4.1% fall, equalling the largest drop since January 2021, with clothing, sports equipment, and furniture retailers…
Read More » -
24 MayClothing & Shoes
Ted Baker shuts down US stores and website
Ted Baker has reportedly shut down its North American-based stores and website after falling into administration. It is believed that 31 of its US stores and nine of its Canada-based stores are set to close, and both areas can no longer shop on the brand’s website. On 19 March, restructuring…
Read More » -
22 MayNews
Superdry announces restructuring measures to avoid administration
Superdry has revealed its capital and restructuring measures to avoid running an emergency four-week sale process. Earlier in April, the struggling retailer had announced it was launching a restructuring plan which would principally involve a restructuring of its UK property estate and retail cost base. Now the retailer has revealed…
Read More » -
20 MayHigh Street
Victorian Plumbing Group acquires Victoria Plum for £22.5m
Victorian Plumbing, the bathroom retailer, has announced the acquisition by Victorian Plumbing Limited, a subsidiary of the company, of the entire issued share capital of AHK Designs Ltd, trading as Victoria Plum in a £22.5m deal. The acquisition of the online only bathroom retailer is on a cash free, debt…
Read More » -
10 MayClothing & Shoes
Frasers ups stake in Boohoo to 23.1%
Mike Ashley’s Frasers Group has upped its stake in Boohoo to 23.1% as it continues investing in a number of UK fashion retailers. It has upped its stake from 16.5% and now holds 293,028,671 voting rights in the company. The news comes after it was reportedly revealed that the group…
Read More » -
9 MayNews
Frasers Group closes in on Ted Baker deal
Frasers Group is reportedly closing in on a deal to become the new partner of struggling retailer Ted Baker, Sky News has revealed. Reports said the group is set to be named as the preferred partner for Ted Baker following the collapse of its existing UK licensing partner No Ordinary…
Read More » -
Apr- 2024 -30 AprilNews
Today’s news in brief-30/4/24
Shop price inflation in the UK eased to 0.8% in April, a decrease from 1.3% in March, according to the latest data from the BRC-Nielsen Index. This decline suggests a trend towards normalising inflation levels after reaching a peak last year. The drop was particularly notable in non-food items, which…
Read More »
