Retail news

• JD Sports' Go Outdoors brand likely to enter administration in days

  21-06-2020 23:46
  
  Over 2,000 people work in the chain’s 67 UK stores, which were hit hard by the lockdownJD Sports is expected to appoint administrators for its Go Outdoors brand within days, putting further high street jobs at risk during the Covid-19 pandemic.More than 2,000 people are employed by the brand, which specialises in fishing, cycling and camping gear, and relies on its 67 stores for the bulk of its sales. Continue reading...
  
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• 'Millions still need cash': UK project aims to preserve use of physical currency

  21-06-2020 19:05
  
  Ampthill in Bedfordshire is one of the sites for the Community Access to Cash Pilots scheme
  Allison Taylor had a cash-only policy when she first opened the Pastiche gift shop on Ampthill’s high street 26 years ago. But the steady loss of ATMs and bank branches have made it harder to keep coins and notes flowing through the Bedfordshire town.“We had plenty of cashpoints, including across the road, and now things have changed,” she says, gesturing towards the boarded-up building
  
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• Sir Philip Green criticised for pursuing taxpayer cash to furlough staff

  21-06-2020 16:44 via retailgazette.co.uk
  // Arcadia owner Sir Philip Green has been criticised for taking millions of taxpayers’ cash to furlough staff
  // Arcadia furloughed 14,500 staff in April under Rishi Sunak’s coronavirus job retention schemeSir Philip Green has reportedly come under fire for continuing to take millions of taxpayers’ money to furlough Arcadia workers.
  Arcadia Group, which owns retailers Dorothy Perkins and Miss Selfridge, with Topshop and Topman being its flagship brands, furloughed 14,500 staff
  
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• Landlords anticipate low rent payments as retailers ride out Covid-19

  21-06-2020 15:54 via retailgazette.co.uk
  // Landlords expect to receive just 10% of the quarterly rent they are owed on Wednesday
  // Rents for the 3 months to September 29 are due on June 24
  // Non-essential retailers in England were permitted to reopen from June 15Landlords are reportedly expecting to receive as little as 10 per cent of the quarterly rent they are owed this Wednesday, manifesting the pressure that property owners are under due to the coronavirus pandemic.
  Rents for the three months to September 29 are due on June 24,
  
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• Zadig & Voltaire stores at risk as it seeks restructuring review

  21-06-2020 15:00 via retailgazette.co.uk
  // Zadig & Voltaire in talks with RSM Restructuring Advisory about its UK store portfolio
  // The retailer’s 7 UK stores were forced to close during the Covid-19 lockdownZadig & Voltaire is reportedly in talks with restructuring advisers about the future of its UK store portfolio.
  The French retailer has seven UK stores and an additional six concession stands in Selfridges, Harrods and Harvey Nichols, all of which were forced to close during the Covid-19 lockdown.
  It is now seeking
  
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• 2400 jobs at risk as Go Outdoors close to collapse

  21-06-2020 14:34 via retailgazette.co.uk
  // Go Outdoors close to administration as it lines up restructuring experts from Deloitte
  // The outdoor retailer saw a sharp downturn in sales due to the coronavirus pandemicJD Sports-owned outdoor clothing and footwear retailer Go Outdoors is reportedly on the brink of collapse, putting 2400 jobs at risk.
  The company has lined up restructuring experts from Deloitte to review its business after suffering a sharp downturn in sales due to the Covid-19 pandemic, The Sunday Times reported.
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• 'My life became a disaster movie': the Bangladesh garment factory on the brink

  21-06-2020 11:00
  
  One factory owner tells how coronavirus cancellations by UK brands have seen him struggle to pay wages
  Coronavirus – latest updatesSee all our coronavirus coverage As high streets across England opened this week and hundreds of people jostled through the doors of clothing shops, thousands of miles away in Chittagong, Bangladesh, Mostafiz Uddin is worrying about how to pay his workers’ wages. At Denim Expert Ltd, the sustainable clothing company he founded in 2009 as a sustainable app
  
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• What do retailers fear even more than the R number? The rent

  21-06-2020 01:05
  
  On the last ‘quarter day’, in March, many stores didn’t pay their landlords. This week, things could be even worseThe reopening of thousands of stores, combined with May’s 12% rebound in sales, has provided some respite for Britain’s’s battered retailers, but the high street crisis is far from over – not least because a monster £2.5bn quarterly rent bill falls due this week.Shop landlords traditionally collect rent in four equal chunks spread throu
  
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