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.
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Nov- 2023 -17 NovemberNews
Today’s news in brief-17/11/23
HMV is set to make a comeback at its historic Oxford Street location, reopening on November 24, four years after the flagship store closed. The store at 363 Oxford Street, the site of the first HMV store in 1921, will create over 70 new jobs. The refurbished flagship will serve…
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17 NovemberNews
Halfords joins bid to rescue Wiggle
Halfords is reportedly among a group of retailers expressing interest in buying online sports retailer Wiggle, Sky News has reported. The retailer is said to have put up a bid to snap up Wiggle, joining Frasers Group, the owner of Sports Direct and Evans Cycles. Next is also believed to…
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13 NovemberHigh Street
The Range losses widen to £11.7m in FY23
The Range has reported that losses have widened to £11.7m, falling more than 10% in the financial year ended 29 January 2023. Gross profit margins also dropped from 33% to 31.9% in the year, which the retailer attributed to higher costs of goods purchased and freight costs, as well as…
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9 NovemberPeople Moves
Just Hype appoints new CEO and COO
Lifestyle and accessories brand Just Hype has announced the appointments of Mike Thompson as its new chief executive officer and Shireen Saloojee as the new chief operating officer. The appointment to CEO comes in the form of a promotion, having previously held the COO title at the company. His time…
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8 NovemberHigh Street
Bensons for Beds sees 7% sales rise despite ‘tough market conditions’
Bensons for Beds has reported a +7% LFL sales growth for the year ending 30 September 2023, despite tough market conditions. The results follow the retailer’s consistent sales progress in Q1 (7%), Q2 (9%), Q3 (8%) and Q4 (7%). The news comes on the back of a “successful” transformation strategy,…
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3 NovemberNews
PrettyLittleThing founder posts interest in Topshop deal
PrettyLittleThing founder Umar Kamani has expressed his interest in buying TopShop from Asos. Commenting on X (FKA Twitter) on a report regarding the possible sale from Asos, Kamani wrote: “I would buy this and bring it back like the good old days.. rockin and rollin.” Kamani is a member of…
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Oct- 2023 -30 OctoberNews
Today’s news in brief-30/10/23
Shein has acquired the Missguided brand from Frasers Group. This move will make Missguided products and collections available to Shein’s 150 million global users through both Shein and Missguided’s websites. Additionally, Shein has entered into an agreement to licence the Missguided brand’s intellectual property to SUMWON Studios, a joint venture…
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30 OctoberDepartment Stores
Frasers mulls rescue of Wiggle after collapse
Frasers is mulling over rescuing online bike retailer Wiggle after it collapsed into administration earlier last week, Sky News has reported. According to Sky, the retailer, best known for its Sports Direct chain, is one of a few other groups looking to rescue WiggleCRC. WiggleCRC, which includes Wiggle, Chain Reaction…
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23 OctoberFeatures
How the FatFace deal lines up with Next’s aggressive acquisition strategy
This year has been a year full of big mergers and acquisitions and October has continued in that vein. The latest of these acquisitions has come in the form of Next’s £115m takeover of lifestyle brand FatFace. This deal is the latest in a long line of acquisitions by Next…
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12 OctoberDepartment Stores
Next nears £100m FatFace takeover deal
Next is reportedly nearing a deal to acquire FatFace as part of its latest takeover move, in a deal that is said to be worth more than £100m, according to Sky News. According to Sky, Next is now putting the “finishing touches” on a deal to acquire the clothing brand,…
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