Retail news

• Music videos replace runways as Covid halts fashion shows

  08-11-2020 15:44
  
  Pop promo looks from BTS, Beyonce and others are driving designer sales through increased screen timeAs fashion shows have ground to a halt due to international Covid restrictions, the catwalk has shifted on to a new platform: music videos.Last week, the rapper Drake released his clothing collaboration with Nike, but key items from the Certified Lover Boy collection, including a much-coveted quilted pink bomber jacket, were previewed in his Laugh Now Cry Later video. Continue reading...
  
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• Landlords slam Clarks over CVA rental terms

  08-11-2020 14:55 via retailgazette.co.uk
  // Debt-ridden landlords at risk of absorbing any unpaid rent from Clarks if CVA is approved
  // Clarks’ CVA needs at least 75% of creditors to approve it, and landlords make up less than 25% of creditor votesClarks has reportedly been accused by its landlords of abusing insolvency processes as it pushes on with a CVA that features turnover-based and zero rental terms.
  According to The Sunday Times, landlords are at risk of being compromised by Clark’s proposed CVA, as they account fo
  
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• Harrods reorganises terms of £200m credit line due to lockdown #2

  08-11-2020 14:01 via retailgazette.co.uk
  // Harrods reorganises £200m credit line as second English lockdown places it at risk of breaching covenants
  // Accounts filed last week shows that Harrods has enough cash for the foreseeable future but recovery could be difficultHarrods has reportedly been forced to reorganise its £200 million revolving credit facility as the second lockdown in England put it as risk of breaching covenants.
  According to The Sunday Times, in August, the luxury department store renegotiated the t
  
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• Tesco & Sainsbury’s close off non-essential parts of stores amid English lockdown

  08-11-2020 13:10 via retailgazette.co.uk
  // Supermarkets shut off parts of stores following government advice to limit access to “non-essentials”
  // Follows updated guidance on which retailers in England are considered essential and what they are permitted to sellTesco and Sainsbury’s have reportedly closed off parts of their stores that are deemed as “non-essential” following updated government guidance amid England’s lockdown.
  The country entered its second and month-long lockdown on Thursday, but
  
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• Anger on the British high street as festive cheer turns to fear for small shops

  08-11-2020 08:45
  
  Independent retailers predict a bleak future as pre-Christmas lockdown hits them harder than big rivalsCoronavirus – latest updatesSee all our coronavirus coverage“They have absolutely crucified us,” says Steve Holden, when asked what the month-long high street lockdown in England means for his family’s three Essex gift shops.“We have spent thousands of pounds on Christmas stock and it is crucial we sell it in November and December, which is our busiest time of year
  
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