Fashion news

• Intu falls into administration

  26-06-2020 15:41
  
  UK shopping centre owner Intu has collapsed into administration after negotiations with its lenders failed ahead of today’s debt covenant deadlines. 
  
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• Leicester goes into local lockdown

  30-06-2020 09:16
  
  Leicester has become the first city in the UK to be put under further lockdown restrictions amid a rise in COVID-19 cases in the region.
  
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• Competition watchdog ousts chairman

  30-06-2020 09:06
  
  The chairman of the UK’s competition watchdog has reportedly been forced to step down three after a row with the organisation’s chief executive.
  
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• Lululemon to acquire home fitness startup

  30-06-2020 08:55
  
  Canadian activewear giant Lululemon has announced plans to acquire home exercise startup Mirror for $500m (£406m).
  
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• Seafolly falls into administration

  30-06-2020 08:42
  
  Australian swimwear brand Seafolly has reportedly fallen into administration, citing the pandemic as a key reason for its collapse.
  
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• New Look warns landlords of pre-pack

  30-06-2020 08:37
  
  New Look is warning landlords that it might have to launch a pre-pack administration if they continue to block the retailer’s attempts to negotiate turnover-based rents.
  
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• Could M&S or Next restore Victoria's Secret to its former glory?

  29-06-2020 17:29
  
  Two high street giants, Next and M&S, are reportedly competing to buy the UK franchise of Victoria’s Secret. Drapers assesses the lingerie retailer’s chances of success. 
  
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• Sales slump at H&M Group

  29-06-2020 09:00
  
  Net sales at Swedish giant the H&M Group dropped by 23% to SEK83.61bn (£7.07 bn) in the six months to 31 May as coronavirus had a “significant” impact on the business.
  
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• The Monday Briefing: Victoria's Secret, TM Lewin, The Hut Group

  29-06-2020 08:53
  
  What you need to know from this weekend’s news.
  
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• A new approach to restructuring

  26-06-2020 18:18
  
  A new wave of restructurings and acquisitions is hitting the fashion retail sector as the coronavirus support schemes are coming to an end and stores are reopening. Experts tell Drapers that retailers will need to take a holistic approach to survive, aided by a new government bill.
  
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• Intu: what happens next?

  26-06-2020 18:08
  
  What is the outlook for Intu’s 17 UK shopping centres, after the landlord collapsed into administration earlier today? 
  
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• Yeezy teams up with Gap

  26-06-2020 15:47
  
  Kanye West’s Yeezy label has struck a deal with Gap to launch a collaborative apparel collection through the retailer’s stores and online in the first half of next year.
  
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• Oliver Bonas secures £3.5m coronavirus funding

  26-06-2020 12:59
  
  Lifestyle retailer Oliver Bonas has secured £3.5m in additional funding via the Coronavirus Business Interruption Loan Scheme (CBILS), to aid its transition from lockdown. 
  
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• Nike swings to quarterly loss

  26-06-2020 11:50
  
  Sports giant Nike has swung to a quarterly loss of $790m (£637m) for the three months to 31 May, hit by global coronavirus store closures. 
  
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• New finance boss for Sosandar

  26-06-2020 09:08
  
  Womenswear etailer Sosandar has appointed Regatta Group’s Stephen Dilks as its new finance director. 
  
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• Boohoo launches £150m reward scheme

  26-06-2020 08:45
  
  Boohoo Group is to introduce a new £150m management incentive plan for the next three years. 
  
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• Intu 'likely' to appoint administrator

  26-06-2020 08:39
  
  UK shopping centre owner Intu Properties has said it is “likely” to appoint administrators after negotiations with its lenders stalled ahead of debt covenant deadlines. 
  
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• Matalan appoints new chairman

  25-06-2020 18:48
  
  Matalan has appointed former Dreams chairman Steve Johnson as its new chairman. 
  
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• June retail rent payments decimated

  25-06-2020 17:20
  
  UK retailers paid just 13.8% of their rent at yesterday’s quarterly payment date, as they continue to wrestle with their property portfolio costs in light of the coronavirus crisis. 
  
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• Nobody's Child hires new managing director

  25-06-2020 15:16
  
  Former New Look product merchandising director Jody Plows has joined Nobody’s Child as managing director. 
  
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• Pure, Scoop and Jacket Required cancelled

  25-06-2020 14:35
  
  UK trade show organiser Hyve Group has cancelled the Spring Summer 21 editions of Pure London, Pure Origin, Scoop and Jacket Required, and will instead run a virtual forum in September. 
  
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• Is UK manufacturing under threat from coronavirus?

  25-06-2020 13:51
  
  British brands Mulberry and Laura Ashley are shutting their UK factory operations due to coronavirus. Drapers explores whether more of the nation’s manufacturers are at risk. 
  
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• Coronavirus casts shadow over UK manufacturing

  25-06-2020 13:51
  
  British brands Mulberry and Laura Ashley are shutting their UK factory operations because of coronavirus. Drapers explores whether more of the nation’s manufacturers are at risk. 
  
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• Very Group axes 141 roles in restructuring

  25-06-2020 09:21
  
  The Very Group plans to make 141 roles across it head office and customer care teams redundant, and create 100 new jobs in its technology division.
  
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• Very Group axes 141 roles in restructure

  25-06-2020 09:21
  
  The Very Group plans to make 141 roles across it head office and customer care teams redundant, and create 100 new jobs in its technology division.
  
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• Social distancing relaxation splits unions and industry

  25-06-2020 08:59
  
  The government’s decision to revise social-distancing measures in England from 4 July has met with a mixed reaction, amid concerns about the safety of shop staff. 
  
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• N Brown profits fall as Covid-19 casts 'lasting shadow'

  25-06-2020 08:52
  
  N Brown Group has reported a decline in revenue and pre-tax profit following a year of “restructuring” in which it streamlined its brand portfolio and grew its digital revenues.
  
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• Zadig & Voltaire reviews UK store estate

  24-06-2020 16:41
  
  French brand Zadig & Voltaire is reportedly in talks with advisory firm RSM Restructuring Advisory about the future of its UK store portfolio.
  
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• John Lewis appoints executive director

  24-06-2020 16:38
  
  Co-op Group deputy chief executive Pippa Wicks has been named as the new executive director of John Lewis. 
  
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• Paris Fashion Week to return in September

  24-06-2020 14:59
  
  French fashion’s governing body, the Fédération de la Haute Couture et de la Mode (FHCM), has confirmed that physical shows will resume from 28 September to 6 October.
  
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