Oasis stores won't reopen after the coronavirus lockdown is liftedCredit: Alamy FASHION retailers Oasis and Warehouse stores won't reopen after the coronavirus lockdown is lifted putting more than 1,800 employees out of work.  Administrators were unable to rescue the company behind the brands and blames the "extraordinary challenges" the pandemic has put on the retail... Continue Reading →

A day after state-owned regional airline SA Express announced it had been placed in provisional liquidation, the country’s largest non-food retailer, Edcon, announced it had applied for voluntary business rescue. Landlords, lenders and the PIC are the biggest losers.  This will have a material impact on the firm’s 14,000 permanent employees, 25,000 temporary staff, 750 suppliers... Continue Reading →

Sainsbury's has warned that the impact of the coronavirus pandemic on current year profit could be over £500 million (€572 million) and said it would defer any dividend payment decisions until later this year. However the group, No. 2 to market leader Tesco, said under its "base case" scenario the hit to profit would be broadly offset... Continue Reading →

The John Lewis Partnership has appointed James Bailey as its new executive director, Waitrose. He joins from Sainsbury’s where he was buying director for Grocery and will start in the Partnership today. Recruitment is also underway for the role of executive director, John Lewis and an announcement will be made in due course. The new... Continue Reading →

A “faster and steeper” collapse in retail sales has prompted Next to cancel or delay almost £1 billion worth of stock in addition to scrapping its dividend and share buyback scheme to save costs. The bellwether retailer warned that it could lose £1.65 billion in sales, about 40 per cent of its usual business, in... Continue Reading →

Supermarkets sales continued to be boosted by the effect of the coronavirus lockdown in April, though the rate of growth has slowed from the previous month. Sales in April were £524mln higher than in the same month last year, data from Kantar showed on Tuesday, with shop sales in the 12 weeks to April 19 up 9.1% year... Continue Reading →

Adidas (ETR: ADS) said on Monday that its profit in the first quarter came out 93% lower. The German sportswear manufacturer also reported a 19% decline in its quarterly sales as the Coronavirus pandemic pushed retailers into temporarily shutting down stores in Q1. In the second quarter, the company added, the COVID-19 driven hit to... Continue Reading →

All 50 John Lewis stores have been closed since March 23 John Lewis Partnership is reportedly considering an outside investor to help to finance and launch a joint venture that would reduce its reliance on retailing. It is also mulling the possibility of never reopening some of its less profitable department stores once the coronavirus... Continue Reading →

The discount retailer has hired KPMG advisers to review options and strengthen its balance sheet Poundstretcher has reportedly drafted in KPMG advisers to begin a review of the business’ finances amid the coronavirus pandemic. The discount retailer has hired advisers to review options and strengthen its balance sheet, Sky News reported. In its latest accounts, Poundstretcher warned... Continue Reading →

The locations of the affected branches are Southampton, Swindon, Kidderminster and Borehamwood. These closures will mean 239 jobs are lost. Just a week ago the chain confirmed it wouldn't reopen seven UK stores after lockdown. These seven are located in Truro, Stratford-Upon-Avon, Salisbury, Westfield in west London, Warrington, Leamington Spa and South Shields.null The latest closure... Continue Reading →

According to official data, UK retail sales saw their biggest fall on record in March due to the Coronavirus lockdown. Whilst food sales have surged as consumers stockpiled and were forced to stay home, overall UK retail sales dropped by 5.1 percent in March according to the Office for National Statistics (ONS).  Hardest hit was... Continue Reading →

Wishing all our readers a blessed Ramadan Kareem

Dis-Chem Pharmacies Limited, a South African wholesale distributor and retailer of pharmaceutical products, has on Thursday been charged for inflating prices during the COVID-19 national lockdown. The South African Competition Commission has found the company guilty of excessive pricing on essential hygienic goods to the detriment of customers and consumers in contravention of the Competition Act. According... Continue Reading →

The move comes after trade bodies wrote a letter to Chancellor Rishi Sunak seeking rental support. LONDON, United Kingdom — Britain's government will void legal attempts to evict or force out small retailers and businesses due to non-payment of rent during the coronavirus crises, it said on Thursday. The country's commercial landlords are experiencing a significant... Continue Reading →

Gordon Brothers was considering retaining a streamlined portfolio of Laura Ashley retail stores within the UK and Ireland. Laura Ashley has been rescued from administration by global advisory, restructuring and investment firm Gordon Brothers. Gordon Brothers acquired Laura Ashley’s global brand, its archives and related intellectual property from administration. As new owners of the brand,... Continue Reading →

Coronavirus: The Range named "worst of British" business for staying open The Range has faced criticism for remaining open amid the coronavirus pandemic. The retailer, which has 180 stores across the country, sells home, leisure and garden items, was “classified as an essential retailer” because it sells food, pet food and toilet rolls. One council... Continue Reading →

Commercial property landlords are starting to tighten the screw on retailers including Boots and Matalan for failing to pay overdue rent, in some cases starting legal action to reclaim money they are owed. Boots, which has continued to trade throughout the lockdown, has been criticised with other businesses, including Travelodge, for refusing to pay second quarter rent,... Continue Reading →

More than 900 jobs are to be axed with immediate effect at retro retail label Cath Kidston after the company said it was permanently closing all 60 of its UK stores under a rescue deal with its Hong Kong-based owner, Baring Private Equity Asia. The vintage-inspired fashion label will continue trading online and via its wholesale and... Continue Reading →

John Lewis and Waitrose have furloughed 14,000 staff as part of efforts to cut costs during the COVID-19 pandemic. John Lewis Partnership, which owns the department store and supermarket Waitrose, said on Tuesday 21 April it was taking actions to preserve cash in the business to help the partnership weather the storm. The group said... Continue Reading →

https://skinhq.co.uk/nhs-heroes/ SkinHQ have pledged a free facial to any NHS or Emergency service members impacted by dry or irritated skin caused by the consistent use of face masks through the Coronavirus. This is the least you deserve but of course it is a start. The whole SkinHQ team are so grateful to every single one... Continue Reading →

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