Job Losses
This coverage examines job losses within the UK retail sector, investigating store closures, restructuring initiatives, supplier impact, and workforce reductions. Reporting highlights trends in employment shifts, cost strategies, and executive decisions — offering insight for HR leaders, operations managers, and business executives dealing with staffing challenges and strategic planning.
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Jul- 2024 -1 JulyHigh Street
Former Mothercare boss among The Body Shop bidders
Several private equity giants are reportedly eyeing a rescue bid for The Body Shop’s high street business, The Telegraph has reported. Gordon Brothers, whose UK business is led by former Mothercare boss Mark Newton-Jones, is said to be among several firms that have submitted bids for what remains of the chain. …
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Jun- 2024 -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…
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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…
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May- 2024 -10 MayDepartment Stores
John Lewis cut 3,800 jobs in past year to reduce costs
The John Lewis Partnership has revealed that it cut 3,800 roles across the company in an effort to reduce costs. The number of employees at the Partnership fell to 70,500 at the end of January down from 74,300 the previous year. As first reported by the Telegraph, the job losses…
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8 MayDIY
Carpetright announces restructuring, 70 jobs at risk
Carpetright has announced restructuring plans across a number of departments to “better support regional stores and digital plans”. A staff reduction of just over 25% will affect the company’s central support centre and field management teams leading to approximately 70 job losses. The company stated that this reduction in central…
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Apr- 2024 -11 AprilNews
Today’s news in brief-11/4/24
Ted Baker’s American licensing partner, OSL, is reportedly in pole position to take over the brand’s collapsed UK operation. Administrators have announced the closure of 15 UK stores, leading to over 200 job losses, as part of efforts to salvage the business. OSL’s potential takeover follows the collapse of No…
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9 AprilNews
Today’s news in brief-9/4/24
No Ordinary Designer Label Limited (NODL), the retailers of the Ted Baker brand in the UK and Europe, will close 11 stores by 19 April. This decision follows the appointment of administrators and is aimed at improving the company’s performance. Authentic Brands Group, the intellectual property owner of Ted Baker,…
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Mar- 2024 -19 MarchClothing & Shoes
Ted Baker to call in administrators
The US owner of Ted Baker, Authentic Brands Group, has announced its intention to appoint Teneo Financial Advisory as administrators of the fashion group. It is understood that ABG is in “advanced discussions” with many potential clients for the brand. Currently, Ted Baker has approximately 975 employees and runs 46…
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11 MarchNews
Today’s news in brief-11/3/24
Doug Putman, the owner of HMV, is reportedly contemplating a bid to acquire The Body Shop from its administrators. The Body Shop has encountered financial difficulties, including filing for bankruptcy in the US and Canada. This move follows the closure of numerous stores and job losses. Private equity firm Aurelius…
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7 MarchNews
Today’s news in brief-7/3/24
The British Retail Consortium (BRC) criticised Chancellor Jeremy Hunt’s Spring Budget, stating that it lacked initiatives to boost investment and growth in communities, particularly for retail businesses. Despite calls to reduce business rates and reintroduce tax-free shopping for tourists, Hunt’s budget did not address these concerns. The BRC emphasised the…
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