Retail news

• Cath Kidston the latest to prepare for administration amid coronavirus crisis

  04-04-2020 17:46 via retailgazette.co.uk
  // Cath Kidston places administrators from Alvarez & Marsal on standby
  // The retailer had already been undertaking an urgent review and was urgently seeking a buyer
  // The sale process was still ongoing, and credible expressions of interest have been receivedCath Kidston is at risk of becoming the next major coronavirus-related casualty in UK retail after it filed a notice of intention to appoint administrators.
  According to Sky News, Cath Kidston placed administrators from Alvarez &am
  
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• New Look delays payments to suppliers “indefinitely”

  04-04-2020 17:17 via retailgazette.co.uk
  // New Look informs suppliers it will cancel all orders and delay payments “indefinitely”
  // Cancellations pertain to orders in production, in origin or at port but not yet loaded on to a vessel
  // Payment delays pertain to orders accepted & are in transit, in New Look’s distribution centre, or in storesNew Look has reportedly informed suppliers that it will cancel all orders and delay payment terms “indefinitely” in a bid to ease the financial impact of the cor
  
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• Sunak's virus bailout 'not enough' as the flood keeps coming

  04-04-2020 17:00
  
  Businesses from transport to steel warn they could go under unless government does moreCoronavirus latest updatesSee all our coronavirus coverageEvery sector of the British economy is suffering and asking the government to do more. Such is the scale of the economic hit that the country is facing from the coronavirus pandemic that even the widening of the government’s bailout last week has failed to assuage business leaders’ concerns.The travel industry is seeking a relaxation of cons
  
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• Ted Baker furloughs 2000 staff

  04-04-2020 16:54 via retailgazette.co.uk
  // Ted Baker furloughs 2000 staff as a result of the coronavirus crisis
  // This equates to about 75% of Ted Baker’s total workforce
  // Those furloughed include shop floor staff and also head office staffTed Baker has reportedly placed approximately 2000 staff members on furlough as a result of lockdowns prompted by the coronavirus pandemic.
  According to Drapers, the decision affects around 75 per cent of the fashion retailer’s total workforce and affects shop floor and some head
  
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• Sainsbury’s bans couples from stores to enforce social distancing

  04-04-2020 16:25 via retailgazette.co.uk
  // Sainsbury’s bans couples from its stores as part of efforts to enforce social distancing amid coronavirus
  // The grocer has implemented a one-adult-per-household rule across its stores
  // The social distancing measures are part of wider efforts to stem the spread of Covid-19Sainsbury’s has banned couples and introduced a one-adult-per-household rule across its stores as part of updated social distancing measures amid the coronavirus pandemic.
  The retailer said the rule, introduced
  
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• Primark to pay overseas factory wages after Covid-19 order cancellations

  04-04-2020 16:06 via retailgazette.co.uk
  // Primark establishes a fund to cover the wages component of orders that have been cancelled
  // This will cover the wages of overseas workers who were producing Primark orders that have now been cancelled
  // Primark has already asked suppliers to stop production amid the global lockdown of its store estatePrimark has pledged to cover the wages of overseas workers who were producing orders that have been cancelled as a result of the Covid-19 pandemic.
  The value retailer established a fund to cov
  
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• Tesco full-year profits expected to surge by almost £300m

  04-04-2020 15:46 via retailgazette.co.uk
  // Tesco predicted to post a surge in pre-tax profits to £1.85bn for the year to February, up from £1.56bn last year
  // It will be the final full-year results for outgoing CEO Dave Lewis
  // Shares in Tesco are largely in line with its position 12 months ago, despite the FTSE 100 diving since coronavirus pandemicTesco chief executive Dave Lewis is expected to guide the supermarket giant to higher profits in his final full-year leading the retailer.
  The Big 4 grocer is predicted to pos
  
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• Primark wage pledge draws sceptical response

  04-04-2020 06:00 via ft.com
  Retailer says it will pay garment workers for cancelled orders
  
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