Flannels

Frasers nearly doubles financing facility to £3bn to support growth

Frasers Group has revealed that it has increased its financing facility from £1.65bn to £3bn in a new term loan and revolving credit facility. The deal has been agreed with its banking partners and has a three-year term with an option to extend it by up to two years. It…

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Mulberry eyes £20m fundraising as losses widen

Mulberry has announced plans to raise £20m in funding as part of a turnaround plan to return to profitability, as it anticipates its full-year losses will widen. The group said it expects to report a profit loss before tax of around £23m, ahead of the £22.6m loss reported last year,…

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Frasers Group launches new retail media network

Frasers Group has officially launched Elevate, a new retail media network powered by Frasers’ first-party data that helps brand partners connect with customers through highly personalised advertising. In line with Fraser’s vision of “building the planet’s most admired and compelling brand ecosystem”, Elevate is said to be designed to empower…

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Sports Direct launches new membership scheme

Frasers Group has announced the launch of a new membership scheme for Sports Direct, with a benefit-based programme designed to “reward loyal customers with exclusive benefits, personalised offers and a seamless omnichannel experience”. The retailer said members will receive tailored rewards and offers, available both in-store and online at Sports Direct…

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The decline of UK department stores: can they survive?

The decline of department stores in the UK has been one of the most significant shifts in the retail sector in recent years. High street giants that once defined the shopping experience have faced unprecedented challenges, leaving behind empty storefronts and a stark reminder of how much the landscape has…

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Today’s news in brief-30/1/25

Retail crime in the UK has surged to record levels, with theft losses hitting £2.2bn in 2023/24, according to the British Retail Consortium (BRC). The trade body warned that organised crime groups are “systematically” targeting stores, while violence and abuse against retail workers spiked by over 50%, averaging 2,000 incidents…

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Mulberry announces new CFO amid turnaround plan

Mulberry has announced the appointment of Billie O’Connor as its new CFO as it revealed its “Back to the Mulberry Spirit” turnaround plan. O’Connor qualified in 2007 and has spent her career working in the consumer and retail sectors, most recently as the CFO and CIO of Milk and More,…

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Reiss to open new store at Metrocentre

Reiss has announced that it will open a new location at Metrocentre shopping destination.  The retailer will open a 3,933 sq ft space in Lower Red Mall in mid-November, stocking menswear, womenswear and accessories.  Reiss will join an array of international retailers within this part of the destination, enhancing the…

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Today’s news in brief-25/10/24

Boohoo has countered Frasers Group’s claims of “stone-walling” regarding the latter’s push to install Mike Ashley as Boohoo’s CEO. In response to an open letter from Frasers, which accused Boohoo’s board of hindering its proposals and expressed dissatisfaction with Boohoo’s recent debt refinancing, Boohoo stated that Frasers’ preference for Ashley…

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Frasers Group opens 70,000 sq. ft Flannels Leeds flagship

Frasers has opened a new store in Leeds marking its sixth ‘flagship’ store with additional locations in London, Leicester, Liverpool, Sheffield and Newcastle. The store, which stretches across six floors and over 70,000 sq.ft, offers luxury and contemporary designer fashion brands, beauty retail concepts, a luxury resale space, full-scale homeware…

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