UK fashion retailer Austin Reed to wind down

(Reuters) - British fashion retailer Austin Reed Ltd will start winding down as no viable offer was received for the company over a five-week sale process, its joint administrators said. The retailer will shut its 120 stores by the end of June, which will affect about 1,000 jobs, Austin Reed's administrators at AlixPartners Services UK... Continue Reading →

John Lewis makes staff wait to be partners 

John Lewis makes staff wait to be partners as cost of the National Living Wage begins to hit British businesses Starters at John Lewis and Waitrose used to become partners upon joining  Now they will be forced to pass a three month trial before they can qualify  B&Q and Morrisons among firms offsetting growing wage... Continue Reading →

Holding unveils $272m waterfront development

Dubai Holding, a leading investment holding company, has announced the launch of its new waterfront destination, 'Marasi Business Bay,' to be developed along the creek within Business Bay destination at an estimated cost of Dh1 billion ($272 million).   A breakthrough master-planned development, 'Marasi Business Bay embraces the longest promenade spanning 12 km, the UAE’s... Continue Reading →

Superdry achieves strong full year sales growth

Superdry owner SuperGroup has grown its full year revenues by 21.1% to £589.5 million as it focuses on category led product innovation and geographic and channel expansion. In the year to 23 April, the retail division increased its revenues by 24.5% with like-for-likes sales climbing by 11.3%. As a result, SuperGroup expects underlying pre-tax profit... Continue Reading →

World’s first Warner Bros. Hotel to open in Abu Dhabi within US$1 billion themed park May 7, 2016 Miral, the asset management company responsible for the development and management of Yas Island, and Warner Bros. have officially announced that a Warner Bros. themed destination is set to open in Abu Dhabi. Situated on Yas Island,... Continue Reading →

Javid orders BHS probe as Green agrees to meet MPs

Business Secretary Sajid Javid has ordered the Insolvency Service to investigate the collapse of UK department store BHS. It comes as former owner Sir Philip Green agreed to appear before two Commons committees to answer questions about the collapse. Sir Philip sold BHS to Retail Acquisitions last year for £1, but has faced criticism about... Continue Reading →

Joules unveils plans to float on Aim

Lifestyle clothing brand Joules has announced plans to float on the Aim market of the London Stock Exchange. The admission is expected to take place in the second quarter of 2016. Founded in 1989 by Tom Joule, the retailer is known for its colour and proprietary prints designed by the company's in-house design team. Group... Continue Reading →

Superdrug confirms head office move

Superdrug has announced plans to move its head office to a new location in central Croydon. The health and beauty retailer will begin the move to Bedford Park, which is close to East Croydon mainline station, in early 2017. Spread over six floors, the new 50,000 square foot building will support the future growth of... Continue Reading →

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