The UK retailer, Boots is to cut 4,000 jobs, its parent company Walgreen Boots Alliance has announced, having been badly hit by the coronavirus pandemic and lockdown measures. The company said it will cut around seven per cent of its UK workforce. According to Walgreens, sales at Boots have plunged during the lockdown. “The adverse... Continue Reading →
The future of Victoria's Secret UK store estate is also dependent on landlords agreeing to readjust its lease terms. Next has reportedly been chosen as the “preferred” UK franchise partner for Victoria’s Secret and has agreed an outline deal to takeover the business on this side of the Atlantic. According to Sky News, Next beat off bidding... Continue Reading →
British online fashion retailer ASOS reported revenue of more than £1 billion in the four months ending June 30, a 10% jump, but its sales in the UK dropped slightly.ASOS' UK sales fell 1.5% — in contrast, UK sales for rival fast-fashion retailer Boohoo jumped 30% in the three months to May 31.ASOS customers have faced longer-than-usual delivery times, "dissuading shoppers... Continue Reading →
According to the business rescue plan, Jet looks to be the jewel in Edcon’s tarnished crown compared with its Edgars chain. TFG’s share price was up over 1% in mid-afternoon trade on Monday, which suggests its investors are broadly supportive. Fashion retailer The Foschini Group (TFG), on the hunt for bargains, has made a R480-million... Continue Reading →
The Covid-19 pandemic has been challenging for drugstores such as Walgreens, as patients put off visiting doctors and other health providers.PHOTO: NAM Y. HUH/ASSOCIATED PRESS Pharmacy chain swings to loss, as drop in customer traffic during coronavirus weighs on demand at Boots stores Walgreens Boots Alliance Inc. said it plans to cut about 4,000 jobs in the U.K.... Continue Reading →
By Sahar Nazir -July 7, 2020 Soletrader will permanently close eight of its 37 stores in the UK // The retailer will shutter eight shops in the UK Soletrader will reportedly shutter eight stores in the UK after its parent company Twinmar Limited placed it into a creditors’ voluntary liquidation. RG Insolvency directors Avner Radomsky and... Continue Reading →
The Swedish group's other brands Weekday, Monki, COS are also expected to be affected by the closures Fashion giant H&M has said it plans to shut 170 of its stores across Europe after accelerating closure plans in the face of coronavirus. The company said that sales dived by a quarter in June as it was... Continue Reading →
JOHANNESBURG (Reuters) - Parts of South African retail chain Edcon are likely to be sold to private equity-backed Retailability Ltd, administrators in charge of its restructuring said. A man walks past a branch of clothing store Edgars, owned by of struggling department store operator, Edcon, during a coronavirus disease (COVID-19) lockdown in Cape Town, South... Continue Reading →
Lucky Brand has joined other retailers in filing for bankruptcy due to the coronavirus pandemic. On Friday, Lucky Brand Dungarees, LLC announced they had filed for Chapter 11 bankruptcy and that the company is looking to sell the business to SPARC Group, operator of Aéropostale and Nautica. The Los Angeles-based denim company is the latest... Continue Reading →
Luxury department store Harrods will axe 672 jobs, following similar cuts by Sir Philip Green's Arcadia Group and the owner of Upper Crust and Caffe Ritazza. Harrods blamed the coronavirus pandemic, which kept its flagship branch in central London closed for three months during the UK lockdown. The business, owned by the Qatar Investment Authority,... Continue Reading →
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