Retail news

• EP Global launches new €3.1bn takeover bid for Germany’s Metro

  13-09-2020 23:30
  Approach by Czech billionaire Daniel Kretinsky is well below what he offered shareholders last year
  
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• Union lauds 'amazing victory' after Arcadia redundancy payment apology

  13-09-2020 17:45
  
  Sir Philip Green’s group to pay full salaries to head office staff facing Covid-19 job lossesCoronavirus – latest updatesSee all our coronavirus coverageThe owner of Topshop and Topman has backed down and agreed to pay full salaries to head office staff facing redundancy – three weeks after the Guardian revealed it had been accused of potentially breaching employment law.The Unite union described the U-turn as an “amazing victory” and said the apology made by Sir Ph
  
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• Boohoo circles New Look as it lurches towards administration

  13-09-2020 11:05 via retailgazette.co.uk
  // Boohoo reportedly eyeing up New Look as creditors prepare for a crunch vote on CVA
  // Should the CVA be rejected, Boohoo could swoop in and acquire the New Look brand while ditching the stores
  // New Look’s creditors will meet to vote on the CVA on Tuesday this weekBoohoo is reportedly looking to swoop in on New Look if its CVA proposal is rejected by creditors and it falls into administration instead.
  According to The Sunday Times, the online retail giant would buy the New Look brand a
  
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• Arcadia backflips to pay full salaries for staff facing redundancy

  13-09-2020 10:34 via retailgazette.co.uk
  // Arcadia Group agrees to pay full salaries for head office staff facing redundancy
  // Follows reports that it was only going to pay some of its staff as little as 50% of their notice pay
  // Legislation prevents businesses using the furlough scheme to calculate redundancy payoutsSir Philip Green’s Arcadia Group retail empire has performed a u-turn and agreed to pay full salaries for head office staff facing redundancy.
  It comes after reports that Arcadia Group – the parent company o
  
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• Coughed on, spat at: UK shop workers fear asking customers to wear masks

  13-09-2020 08:15
  
  Calls for key staff to be better protected and for Covid rules to bemore effectively policedCoronavirus – latest updatesSee all our coronavirus coverageSeventeen-year-old Hayley Sterry has been spat at, coughed on and verbally abused while working at the checkouts of her local Sainsbury’s throughout the pandemic.“We want to be safer and have everyone following the rules but we have no say in the slightest. People blame the workers and not the company – it’s crazy. N
  
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• Arcadia redundancies: retail group announces full payouts in reversal

  13-09-2020 06:51
  
  Unite union started legal action against Philip Green’s company after entitlements were cut by up to 50%Sir Philip Green’s Arcadia fashion group has performed a U-turn and agreed to pay full salaries for head office staff facing redundancy.It comes after reports that Arcadia – whose high street brands include Topman, Topshop and Dorothy Perkins – was only going to pay some of its staff as little as 50% of their notice pay. Related: Philip Green asks for taxpayer support t
  
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• After six months of turmoil, John Lewis can only hope for better

  13-09-2020 01:05
  
  The retailer had ‘lost its way’ even before Covid-19 forced stores to close. So this week’s results will not be prettyIt has been a torrid year for middle-class favourite John Lewis, and this week the retailer, which is in the midst of a revolution under new boss Sharon White, will lay bare the damage coronavirus is wreaking on its finances.A heavy first-half loss is anticipated from its department stores, which were struggling before the pandemic struck. As a reminder, the sho
  
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