Hong Kong
This coverage explores how developments in Hong Kong affect UK retail, with reporting on supply chain links, brand expansion, political and economic factors, and consumer trends connected to the region. Tailored for retail executives, sourcing managers, and strategists assessing international operations, market opportunities, and risks related to this key global retail hub.
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Nov- 2020 -9 NovemberNews
Landlords hit back at Clarks CVA terms
Landlords are reportedly accusing Clarks of abusing its insolvency processes, as the retailer pushes forward with a CVA that includes turnover-based and zero rental terms. According to a report by The Sunday Times, Clarks’ proposed CVA is “likely” to detrimentally impact landlords, who account for less than 25% of creditor…
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4 NovemberLuxury Goods
Fortnum and Mason names new CEO
Fortnum and Mason has named Tom Athron as its new CEO, replacing Ewan Venters in the role. Prior to his appointment, Athron had held the position of chief operating officer at Matchesfashion since May 2018, and previously held a variety of roles at John Lewis Partnership, where he later acted…
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Oct- 2020 -27 OctoberClothing & Shoes
Clarks begins landlord talks over restructuring deal
Clarks has reportedly “kicked off” restructuring talks with landlords regarding store closures and rent cuts, according to Sky News. The footwear retailer and its advisers are said to be meeting with landlords this week to discuss a restructuring that would see the chain switch to a turnover-based rent model for…
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7 OctoberClothing & Shoes
Clarks may turn to CVA to secure LionRock rescue deal
Embattled shoe retailer Clarks may reportedly resort to launching a CVA that could lead to some store closure in order to secure a rescue deal from potential investors LionRock Capital. According to Sky News, any rescue deal from LionCapital is reportedly contingent on a CVA proposal being approved by its…
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2 OctoberClothing & Shoes
Clarks pension trustees call in advisers
Pension trustees at shoe retailer Clarks have reportedly drafted in advisors as they seek to secure additional finance for the company. According to Sky News, the company’s retirement holders have called in advisers from FRP Advisory and Penfida after discussions were had with two potential bidders. Just last week it…
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Sep- 2020 -25 SeptemberClothing & Shoes
Hong Kong’s Lion Rock joins race for Clarks
A Hong Kong-based private equity firm, which backs a number of companies such as Taxi hailing app Hailo and Serie A football giant Internazionale, has reportedly entered the race to acquire Clarks. According to Sky News, Lion Rock is one of the remaining two potential bidders vying for a majority…
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Mar- 2020 -26 MarchComment
Preventing inevitable recession from becoming depression
The global economy is heading into a recession, initially at least a pretty severe one. The measures introduced by governments in an attempt to slow the spread of the virus are having a dramatic effect on huge swathes of economic activity. There is the direct loss of output and employment…
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17 MarchClothing & Shoes
H&M sales increase despite being ‘negatively impacted’ by Covid-19
Fashion retailer H&M has reported a rise in sales in its first-quarter results, despite being “negatively impacted” by the outbreak of Covid-19. For the period ended 1 December 2019, H&M reported an 8% increase in net sales to SEK 54,988m (£46,609m) compared with £51m in the year prior. H&M said…
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10 MarchClothing & Shoes
French Connection posts £3m loss as it warns of continued tough trading
French Connection has revealed it has swung to a £2.9m loss for the full-year period ending 31 January 2020 and has warned of “continued difficult trading conditions”. The underlying loss comes after a restated underlying profit of £0.8m the previous year. Group revenue was also down 11.4% to £119.9m compared…
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Feb- 2020 -28 FebruaryAnalysis
Coronavirus sends ripples through markets, governments, companies and the public
Apologies for the repetition, but the new coronavirus is causing such a serious global reaction today it would be silly to focus on other things, so here are four key stories about what looks to be developing into a full blown international crisis. The FTSE 100 has lost nearly £200…
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