Retail news

• Ashley seeks support for legal challenge to Debenhams' rescue

  19-05-2019 18:49
  Creditors have until 6 June to challenge two company voluntary arrangement dealsMike Ashley’s Sports Direct group is trying to muster support for a legal challenge to a Debenhams restructure package that was given the green light this month.Creditors have until 6 June to challenge two company voluntary arrangement (CVA) deals under which Debenhams plans to to close at least 22 stores of the group’s 166 stores and reduce rents on dozens more. Continue reading...
  
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• Philip Green could close overseas stores as part of Arcadia rescue

  19-05-2019 17:37
  Retail empire needs to secure deal with landlords to avoid going into administrationSir Philip Green is considering closing down overseas stores as part of a rescue restructure for his retail empire, which could be announced as early as this week.Arcadia, the group led by Green which owns a string of ailing high street fashion brands including Topshop, Miss Selfridge and Wallis, says it needs to secure a deal involving about 50 UK store closures, rent cuts and a reduction in pension fund payment
  
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• Counter culture: my life growing up in a corner shop

  19-05-2019 12:29
  BBC presenter Babita Sharma on what she learned from helping out in her parents’ store, and why corner shops remain an essential part of British lifeI am a corner shop kid and my childhood home was shared with our customers for more than a decade. We – a family of five – ate, slept, lived and worked in the shop. We served you and you gave us business, but there was a world beyond the counter that you never knew. My parents’ store near Reading was the perfect place to lear
  
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• M&S must hope Ocado will turn its food problems into trifles

  19-05-2019 08:00
  This week’s full-year results are unlikely to make appetising reading, but the promise of internet shopping offers hopeShareholders in Marks & Spencer might be forgiven for starting this week with a sense of scepticism. The stalwart of the British high street is set to announce its full-year results on Thursday, and expectations are already low.The past decade has seen a number of attempts to revive the fortunes of the chain but problems persist – an ageing customer base, expensi
  
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