Retail news

• DoorDash raises another $600m at $12bn valuation

  23-05-2019 22:02 via ft.com
  Food delivery service doubles in value after raising $2bn to date
  
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• Casino parent Rallye enters bankruptcy protection

  23-05-2019 21:57 via ft.com
  Court procedure freezes debts to allow time to produce plan to reschedule payments
  
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• Sir Phil learns a pension lesson — but the regulator’s wise to it

  23-05-2019 20:56 via ft.com
  Voicing concern over Arcadia’s CVA shows TPR is longer being bullied in the schoolyard
  
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• LC&F collapse calls the regulator's competence into question Nils Pratley

  23-05-2019 20:48
  The now bust purveyor of ‘mini bonds’ left 11,500 ordinary investors £236m out of pocketThe official investigation into the collapse of London Capital & Finance, the investment firm that went bust owing £236m to 11,500 ordinary savers, is the most important financial inquiry since the banking crisis. As with the broken banks, the central questions aren’t simply about how to fix the regulatory system. The basic competence of the regulator – the Financial Co
  
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• Philip Green pressed to inject more cash into Arcadia

  23-05-2019 19:52 via ft.com
  Landlords and Pension Regulator conclude not enough money will be invested in business
  
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• Best Buy/tariffs: rising prices, fixed smiles

  23-05-2019 19:43 via ft.com
  Corporate America is reluctant to yet speak out against Mr Trump
  
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• Casino/Rallye: house of cards

  23-05-2019 19:20 via ft.com
  Creditors and shareholders are braced for a painful restructuring
  
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• 'Put that down, cancel that': the Guardian tracks Philip Green to Monaco

  23-05-2019 18:00
  As his Arcadia empire struggles for survival, its chairman is planning a grand prix partyWhile Sir Philip Green’s 19,000 employees fear for their future as his Arcadia retail empire attempts to engineer a rescue deal, the Guardian tracked down the multimillionaire owner to tax-free Monaco where he is preparing to host a lavish party aboard his £100m superyacht during this weekend’s grand prix.As Arcadia is facing a financial crisis – which in the best case scenario will l
  
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• Sofas & Stuff to open new store at The Mailbox

  23-05-2019 15:19 via theretailbulletin.com
  Furniture retailer Sofas & Stuff is to open a new retail store at Birmingham’s Mailbox.
  
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• 'It was horrible': peer describes allegations against Philip Green – video

  23-05-2019 15:17
  The Labour peer Peter Hain, who used parliamentary privilege to accuse Sir Philip Green of being an abusive bully, has said he did so after hearing ‘horrible’ claims of repeated sexual assaults resulting in hundreds of grievance cases. Hain told the House of Lords on Thursday one alleged victim said the retail tycoon had shouted ‘go to psychologists’ when staff objected to his behaviourI was told of hundreds of grievance cases against Philip Green, says peerContinue readi
  
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• Philip Green's retail rescue plan at risk over pension scheme

  23-05-2019 13:42
  Plan to restructure Arcadia Group does not protect members, says regulatorSir Philip Green’s rescue of his Topshop-to-Burton retail empire has been thrown into doubt after the Pensions Regulator (TPR) said the former billionaire’s restructuring plan did not adequately protect the group’s 9,500 pension scheme members.Green’s Arcadia Group has until 5 June to agree a deal with the regulator and trustees of two legacy pension funds, which have a deficit of as much as £
  
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• Prada announces it is to go fur-free

  23-05-2019 13:40
  The Italian luxury fashion house is the latest to announce it will ban fur, starting with its SS20 collectionsThe Italian fashion house Prada has announced it will stop using fur in its collections. The ban will come into effect this September for its spring/summer 2020 women’s collections, although items that have already been made will continue to be sold.The move has come about in collaboration with the Fur Free Alliance, an international coalition of more than 40 animal protection orga
  
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• I was told of hundreds of grievance cases against Philip Green, says peer

  23-05-2019 13:23
  Peter Hain says he heard retail tycoon had repeatedly touched and slapped bottoms of staffA Labour peer who used parliamentary privilege to accuse Sir Philip Green of being an abusive bully has said he did so after hearing “horrible” claims of repeated sexual assaults resulting in hundreds of grievance cases.Peter Hain told the House of Lords on Thursday that one alleged victim claimed the retail tycoon had shouted “go to psychologists” at staff who questioned his behavio
  
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• Philip Green's retail rescue plan torpedoed by pension watchdog

  23-05-2019 13:02
  Plan to restructure owner of Topshop doesn’t protect scheme members, says regulatorSir Philip Green’s rescue of his Topshop-to-Burton retail empire has been thrown into doubt after the Pension Regulator said the former billionaire’s restructuring plan did not adequately protect the group’s 9,500 pension scheme members.Green’s Arcadia Group has until 5 June to agree a deal with the regulator and trustees of two legacy pension funds, which have a deficit of as much as
  
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• From Topshop to Dorothy Perkins: the 23 shops being shut by Philip Green

  23-05-2019 12:10
  Topshop and Dorothy Perkins among the 23 stores to close as part of the group’s proposalsArcadia Group locations set for closure under Sir Philip Green’s CVA proposals (lead brand in brackets): Continue reading...
  
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• Shares in Casino and parent Rallye suspended in Paris

  23-05-2019 11:21 via ft.com
  Companies request suspension after Rallye stock closed at record low
  
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• Revisiting Alphaville's Casino/ Rallye archive

  23-05-2019 11:09 via ftalphaville.ft.com
  Robert Smith at his finest.
  
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• Truffle chips, truffle pizza, truffle popcorn … how a luxury item became ubiquitous

  23-05-2019 11:00
  The ‘food of the gods’ is now within everyone’s reach. But is there less to the new snacks than meets the eye?It is the smell that hits you first: a heady slap of petroleum, garlic, funghi and warm earth after rainfall, followed by a whiff of peppery olive oil. Next comes a delicate crunch, and that distinctively deep, savoury flavour. This is what luxury tastes like; this, and a glass of dazzling toasty bubbles that taste like champagne but is really a £9 crémant
  
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• Urban Outfitters to launch fashion rental service

  23-05-2019 09:55 via theretailbulletin.com
  The owner of Urban Outfitters is launching a women’s apparel subscription rental service in the US called Nuuly.
  
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• B&M posts strong uplift in sales and profit

  23-05-2019 09:55 via theretailbulletin.com
  B&M has increased its full year pre-tax profit by 10.3% to £249.4 million as its continues its store expansion programme.
  
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• B&M chief dampens talk of Asda bid

  23-05-2019 09:51 via ft.com
  Simon Arora says discount retailer ‘does not need’ M&A for growth
  
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• Warehouse owner LondonMetric to buy Mucklow in £415m deal

  23-05-2019 09:42 via ft.com
  Acquisition will create a £2.3bn rival to market leader Segro
  
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• JYSK opens first store in Azerbaijan

  23-05-2019 09:07 via theretailbulletin.com
  Furniture retailer JYSK has opened its first store in Azerbaijan.
  
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• Arcadia identifies 23 stores for closure as part of rescue plan

  23-05-2019 09:07 via theretailbulletin.com
  Sir Philip Green’s Arcadia Group has identified 23 stores in the UK and Ireland for closure as part of a restructuring plan.
  
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• Woke-washing: how brands are cashing in on the culture wars

  23-05-2019 07:00
  From M&S’s LGBT sandwich to Kendall Jenner stopping a riot with a Pepsi can, corporate business is adept at adopting our concerns. But is it all a cynical marketing ploy?Imagine getting angry over a sandwich. When Marks & Spencer launched its LGBT sandwich – basically, your classic BLT with some gay guacamole thrown in – I, along with a list of other LGBTQ commentators, was asked by ITV’s This Morning if I was offended by the sandwich. I wasn’t, and neither
  
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