Retail news

• Arcadia avoids collapse as landlords back rescue plan

  12-06-2019 21:30
  Creditors in Philip Green’s fashion group agree rent cuts while deal paves way for 23 stores to shut
  
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• Majestic Wine shares rise as US hedge fund joins bidders for stores

  12-06-2019 20:14
  Elliott Advisors reportedly seeking to buy retailer’s 200 UK shops
  Shares in Majestic Wine jumped after a report that the US hedge fund Elliott Advisors has put in a bid to buy the British retailer’s 200 stores.The move would represent the latest bet on the fortunes of bricks-and-mortar retail from Elliott, after it last week bought the US bookshop chain Barnes & Noble, which will be run alongside Waterstones, the British books chain it bought in April 2018. Continue reading...
  
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• Philip Green hails 'last-minute winner' as landlords back Arcadia rescue - business live

  12-06-2019 19:59
  Victory for Sir Philip Green as landlords approve a CVA that spares Top Shop, Miss Selfridge, Burton and Dorothy Perkins from closureLatest: Green welcomes result, but 1,000 jobs still goBREAKING: Arcadia CVA approvedLandlords have agreed to rent cutsGreen family put more money in to sweeten dealAnalyst: Brexit partly to blame for crisisTimeline: Arcadia’s history 6.57pm BST If you’re just tuning in, here’s our news story on today’s dramatic vote on Arcadia’s future
  
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• Philip Green cheers 'last-minute winner' as landlords back Arcadia rescue - business live

  12-06-2019 19:59
  Victory for Sir Philip Green as landlords approve a CVA that spares Top Shop, Miss Selfridge, Burton and Dorothy Perkins from closureLatest: Green welcomes result, but 1,000 jobs still goBREAKING: Arcadia CVA approvedLandlords have agreed to rent cutsGreen family put more money in to sweeten dealAnalyst: Brexit partly to blame for crisisTimeline: Arcadia’s history 6.57pm BST If you’re just tuning in, here’s our news story on today’s dramatic vote on Arcadia’s future
  
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• Arcadia: Thousands of jobs saved as landlords back rescue plan - business live

  12-06-2019 19:06
  Victory for Sir Philip Green as landlords approve a CVA that spares Top Shop, Miss Selfridge, Burton and Dorothy Perkins from closureBREAKING: Arcadia CVA approvedLandlords have agreed to rent cutsGreen family put more money in to sweeten dealAnalyst: Brexit partly to blame for crisisTimeline: Arcadia’s history 6.06pm BST Stephanie White, Associate and real estate expert at Stevens & Bolton LLP, points out that Arcadia could face a legal challenge from unhappy creditors.Here’s he
  
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• Philip Green's Arcadia avoids administration as rescue deal backed

  12-06-2019 18:47
  Plan means about 50 UK stores will close and there will be rent cuts on almost 200 moreArcadia: from its roots with Burton in 1903 to near collapseFull lis of the shops being shutSir Philip Green’s Topshop to Burton retail empire has staved off collapse after winning the backing of creditors for a rescue plan that involves the closure of 50 stores.Landlords of Arcadia Group’s 570 UK standalone stores, which are also home to Dorothy Perkins, Topman, Wallis, Evans, Outfit and Miss Self
  
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• From Topshop to Dorothy Perkins: the shops being shut by Philip Green

  12-06-2019 18:43
  Topshop and Dorothy Perkins among some 50 stores to close as part of the group’s proposalsArcadia Group locations set for closure after the retailer’s CVAs won approval on Wednesday: Continue reading...
  
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• Philip Green’s Arcadia secures go-ahead for restructuring plan

  12-06-2019 18:09
  Creditors vote in favour of proposals, clearing the way for 23 stores to close
  
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• Key dates in Philip Green’s retail career

  12-06-2019 13:39
  Future of Arcadia retail group hangs in balance as landlords vote on restructuring plan
  
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• Empire-building: key dates in Philip Green’s retail career

  12-06-2019 13:39
  Arcadia retail group’s future hangs in balance as landlords vote on a restructuring plan
  
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• Lidl to launch first central London store

  12-06-2019 13:27
  German discount chain Lidl will invest £500m in London and create 1,500 new jobsLidl is to launch its first store in central London as it opens 40 new shops across the capital in the next five years.The German discount chain said it would invest more than £500m in London and create 1,500 jobs at the new stores, at locations including Alperton, East Acton, Hackbridge and Watford. Lidl currently has 88 shops in the capital, out of 760 in the UK. Related: The Aldi effect: how one discou
  
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• Arcadia: from its roots with Burton in 1903 to near collapse

  12-06-2019 12:23
  Sir Philip Green battles to save a business that now includes Topshop, Evans and WallisSir Philip Green’s Arcadia Group, now facing the prospect of collapse, traces its history back more than 100 years.1903 Menswear brand Burton Group founded in Chesterfield by Lithuanian émigré Montague Burton. It sold ready-to-wear and bespoke suits and relocated to Leeds in 1910. Related: Philip Green's Arcadia group on a knife-edge as creditors vote on rescue plan - business liveContinue
  
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• Boohoo bucks UK's gloomy retail trend as sales rocket

  12-06-2019 12:16
  Online fashion store reports near-40% increase in revenues in past quarterThe online fashion retailer Boohoo has once again bucked the gloomy retail trend and reported a near-40% surge in sales in the past three months.The firm, whose brands include PrettyLittleThing, Nasty Gal and MissPap, has tapped into the popularity of cheap fashion bought by young shoppers on their mobile phones. Booho’s sales rocketed 39% to £254.3m in the three months to 31 May. Sales rose 27% in the UK and 5
  
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• 'Sales frenzy': Australian retailers crank up discounts as consumer confidence falls

  12-06-2019 11:22
  Shoppers reluctant to part with their hard-earned money in the face of flatlining wages and record debt, surveys showAustralian retailers have cranked up discount offers into “overdrive” ahead of the end of financial year sales as falling consumer confidence continues to dog the sector.Two closely followed surveys published on Wednesday by leading banks both pointed to a growing reluctance among shoppers to part with their hard-earned money in the face of flatlining wage growth, fall
  
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• Philip Green's Arcadia group on a knife-edge as creditors vote on rescue plan - business live

  12-06-2019 11:04
  Rolling coverage of the latest economic and financial news, as landlords vote on whether to approve Arcadia’s rescue dealIntroduction: Arcadia rescue deal vote todayVideo: What is today’s vote about?Deal would cut jobs and lower rent, but Intu still opposes itVote was postponed last week as Green faced defeat18,000 jobs at risk if deal fails
  Vote starts at noon 10.03am BST Here’s the Press Association’s latest Arcadia story, for those looking to get up to speed before tod
  
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• Lidl to ramp up London presence with £500m investment

  12-06-2019 11:00
  Discounters have found it difficult to expand in the capital due to high rents
  
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• UK financial regulator to tighten ‘buy now pay later’ rules

  12-06-2019 10:50
  Measures will ban companies from charging backdated interest
  
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• Zara owner Inditex profits from expansion with record sales

  12-06-2019 09:42
  World’s largest clothing retailer says profit up a tenth as it pushes into markets such as Brazil
  
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