Retail news

• What rights do UK shoppers have if a store enters administration?

  02-12-2020 21:45
  
  As Debenhams and Topshop hit the rocks, find out what protections you have if you buy items there
  It’s been a dreadful week for the high street with Debenhams, Arcadia Group – which includes brands such as Topshop and Wallis, and fashion retailer Bonmarché all going into administration.Their shops are still open, where lockdown rules permit, and their websites are still trading, so we’ve looked at what rights you have if you buy items from a store that falls into adminis
  
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• Arcadia Group gift cards now worth only half the purchase value

  02-12-2020 21:22
  
  Collapsed firm blames technical issues for shoppers not being able to use cardsShoppers holding gift cards and vouchers for the collapsed Arcadia Group’s brands have been told that they will only be able to use them for half the price of their purchase cost.On Wednesday, consumers who held gift cards for the group’s brands, which include Topshop, Topman, Miss Selfridge, Dorothy Perkins, Evans and Burton, reported that they were unable to use them to make purchases, and the company sa
  
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• Arcadia Group gift cards can now only cover half the price of purchases

  02-12-2020 21:22
  
  Collapsed firm says customers will not be able to use vouchers to cover their entire spending valueShoppers holding gift cards and vouchers for the collapsed Arcadia Group’s brands have been told that they will only be able to use them to cover half the price of their purchase.On Wednesday, consumers who held gift cards for the group’s brands, which include Topshop, Topman, Miss Selfridge, Dorothy Perkins, Evans and Burton, reported that they were unable to use them to make purchases
  
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• Tesco to repay £585m in business rates relief

  02-12-2020 20:49
  Morrisons follows suit as pressure builds on other retailers
  
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• Footfall down on last year as English shops reopen after lockdown

  02-12-2020 20:44
  
  Spending levels for ‘Wild Wednesday’ lag behind last week’s Black Friday levelsCoronavirus – latest updatesSee all our coronavirus coverageEngland’s high streets came out of lockdown on Wednesday but non-essential retailers hoping to kickstart the Christmas season with bumper trade on a day billed as “Wild Wednesday” instead saw shoppers return only slowly.The number of shoppers out and about at English retail parks, shopping centres and high streets on
  
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• Tesco and Morrisons to repay £850m of Covid business rates relief

  02-12-2020 20:35
  
  Supermarkets faced mounting criticism after sales boost, albeit with higher costsOpinion: where Tesco leads on rates relief, others should followCoronavirus – latest updatesSee all our coronavirus coverageTwo of the UK’s biggest supermarkets have bowed to pressure and are repaying more than £850m in business rates relief they accepted from the UK government to help the supermarkets deal with the coronavirus pandemic.In a surprise move, Tesco announced its decision to repay &pou
  
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• Tiers cause fears as high streets reopen after England’s national lockdown

  02-12-2020 20:22
  Business owners worried there could be further failures if demand remains lacklustre
  
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• Tesco and Morrisons to pay back £850m of Covid business rates relief

  02-12-2020 20:18
  
  Supermarkets bow to pressure after sales boost, albeit with higher costs, during pandemicOpinion: where Tesco leads on rates relief others should followCoronavirus – latest updatesSee all our coronavirus coverageTwo of the UK’s biggest supermarkets have bowed to pressure and are repaying more than £850m in business rates relief they accepted from the UK government to help the supermarkets deal with the coronavirus pandemic.In a surprise move, Tesco announced its decision to rep
  
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• Tesco’s tax payback piles the pressure on its high street rivals

  02-12-2020 20:15
  Social conscience is conveniently timed at Tesco; investors never tire of Avon Rubber
  
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• 'It's lovely to be back': on the streets of three-tier England as lockdown lifts

  02-12-2020 19:56
  
  Traders and hospitality venues open their doors to the public in tiers 1, 2, 3 ready for ChristmasCoronavirus – latest updatesSee all our coronavirus coverageEngland’s second national lockdown lifted on Wednesday, with 99% of the population placed under the second and third tiers of a three-tier regime. However, non-essential shops are allowed to open under every tier, giving shop owners hope for a much-needed high street boost ahead of Christmas. The Guardian went out on Wednesday t
  
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• Arcadia Group: What went wrong?

  02-12-2020 19:26 via retailgazette.co.uk
  A BRIEF TIMELINE
  1903: 18-year-old Lithuanian immigrant Meshe David Osinsky borrowed £100 from a relative to set up The Cross-Tailoring Company in Holywell Street, Chesterfield. Osinsky’s initial operation, a men’s clothing manufacturer, tailoring and retailing operation, became the genesis for the Burton menswear chain.
  1909: Osinsky changed his name to Montague Burton and steadily expanded his business after tapping into growing demand for affordable and smart
  
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• Tesco to repay £585m business rates relief; Arcadia directors face scrutiny – as it happened

  02-12-2020 18:29
  
  Rolling coverage of the latest economic and financial newsLatest: Insolvency Service to examine Arcadia directorsTesco to hand back £585m of business rates reliefCEO: It’s ‘absolutely the right thing to do’Nils Pratley: Rivals should followHigh streets reopen across England.......Debenhams website crashes 5.29pm GMT Time to wrap up.Tesco has bowed to pressure and decided to repay £585m of business rates relief granted in the UK since the pandemic started. The superm
  
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• Tesco and Morrisons to repay business rates relief; Arcadia directors face scrutiny – as it happened

  02-12-2020 18:29
  
  Rolling coverage of the latest economic and financial newsLatest: Morrisons to waive business rates reliefInsolvency Service to examine Arcadia directors
  Tesco to hand back £585m of business rates reliefCEO: It’s ‘absolutely the right thing to do’Nils Pratley: Rivals should followHigh streets reopen across England.......Debenhams website crashes 6.53pm GMT A late newsflash: Supermarket chain Morrisons has just announced that it is also waiving its business rates relief.Fo
  
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• Green family to pay £50m into Arcadia pension scheme within 10 days

  02-12-2020 18:18
  
  Concerns expressed that fund may still fall short as business secretary calls on watchdog to investigate bosses
  Sir Philip Green’s family is to pay a promised £50m into their fashion empire’s pension scheme within the next 10 days – almost a year earlier than scheduled – as the business secretary, Alok Sharma, called on the insolvency watchdog to investigate the handling of the failed group.Sharma has asked the insolvency watchdog to examine whether the conduct of d
  
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• English bookshops reopen, hoping for Christmas trade rescue after lockdown

  02-12-2020 17:58
  
  After calls to allow them to remain open during the second lockdown failed, the next three weeks will be vital for the sector
  At The Bookshop in Liskeard, Cornwall, the first customer through the door on Wednesday snapped up The Sentinel by Lee and Andrew Child, while the second went for My Garden World by Monty Don. At Waterstones Piccadilly, after a Christmas elf cut a ceremonial ribbon to reopen the shop, the first reader went straight for the Booker prize winner, Douglas Stuart’s Shugg
  
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• Tina Green brings forward £50m Arcadia pension payment

  02-12-2020 17:15
  Wife of retailer Philip Green accelerates timetable as political pressure over deficit grows
  
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• Lex Letter from London: Et in Arcadia, his ego

  02-12-2020 17:12
  UK high street shops were a dying breed long before coronavirus came on the scene
  
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• The inevitable collapse of Arcadia is a cautionary tale for British capitalism | Larry Elliott

  02-12-2020 16:00
  
  Philip Green favoured making a fast buck over investing in response to retail’s changing landscape – and he paid the pricePhilip Green wasn’t much cop at capitalism. That may sound a strange way to describe a very wealthy man who lives on an ocean-going yacht moored in the tax haven of Monaco. It perhaps sounds doubly weird given that Arcadia consists of some of the best known names on the high street: Topshop, Wallis, Miss Selfridge and Dorothy Perkins among them. Related: Fro
  
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• Minister asks watchdog to examine conduct of Arcadia Group bosses

  02-12-2020 15:30
  
  Concerns over pension deficit, employees and creditors leads to letter to Insolvency ServiceThe business secretary, Alok Sharma, has asked the insolvency watchdog to examine whether the conduct of directors at Sir Philip Green’s fashion empire led to problems for the group’s pension fund.Arcadia Group, which owns high street brands including Topshop, Dorothy Perkins and Burton, fell into administration on Monday, leaving a pension deficit estimated to be as much as £350m. Conti
  
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• M&S to launch contact-free bra fit service at its biggest stores

  02-12-2020 15:17 via retailgazette.co.uk
  // M&S to offer contact-free bra fit service at 64 of its biggest stores
  // The service will be M&S’s England and Wales stores from December 3
  // M&S trialled the service at five large stores prior to the second lockdownMarks & Spencer has announced it will launch a contact-free bra fit service at 64 of its biggest stores in England and Wales from December 3.
  The contact-free offering will be run by M&S’s team of lingerie experts and the consultations will include
  
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• Retailers team up to call for extension on opening hours

  02-12-2020 14:53 via retailgazette.co.uk
  // Retailers and landlords have united to deliver extended store opening hours
  // The government has confirmed that all retail – essential and non-essential – will be able to open from today
  // The BRC, British Property Federation and Revo are supporting retailers who want to open for longerRetailers and property owners are working together to deliver extended store opening times in the run up to Christmas.
  The government has confirmed that all retail – essential and non-essent
  
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• Bonmarché falls back into administration

  02-12-2020 14:14
  Another 1,600 jobs at risk on UK high street as fashion chain becomes latest victim of pandemic
  
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• Small & indie retailers hope to capitalise on reopening with Small Business Saturday

  02-12-2020 14:05 via retailgazette.co.uk
  // Hopes for trading boost from annual Small Business Saturday campaign
  // ss
  // ssAn annual event celebrating small businesses is hoping to tap into the end of the national lockdown, as people flock back to re-opened shops.
  Small Business Saturday is being held this weekend, under efforts every year to encourage people to support small firms and shop in their local area.
  The group behind the campaign said its research showed that three out of five people supported small businesses more than pre
  
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• Small & indie retailers hope to capitalise on lockdown end with Small Business Saturday

  02-12-2020 14:05 via retailgazette.co.uk
  // Hopes for trading boost from annual Small Business Saturday campaign this weekend
  // Organisers of the event hope to capitalise on the end of lockdown in England as shoppers flock to the high street
  // Northern Ireland & 11 council areas across Scotland will remain in lockdown this weekendAn annual event celebrating small businesses on the high street is hoping to capitalise on the end of England’s national lockdown, as people flock back to re-opened shops.
  Small Business Saturday i
  
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• Very cancels 1000 PS5 and Xbox Series X orders made by scalpers

  02-12-2020 13:22 via chargedretail.co.uk
  
  Very has cancelled more than 1000 orders for PlayStation 5 and Xbox Series X consoles made by scalper groups.
  Scalper groups using ‘bots’, or automated software able to buy up swathes of stock at lightning speeds, have been cashing in on the limited availability and extortionately high demand for the two next-gen consoles both of which were released last month.
  Retailers have struggled to tackle the use of these bots, which have allowed some scalper groups such as CrepChiefNotify to
  
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• Where Tesco leads on business rates relief others should follow

  02-12-2020 12:59
  
  Sainsbury’s, Morrisons, B&M and co must decide whether to return the chancellor’s giftsThere is joy in heaven over one sinner who repents. There will also be astonishment on earth that Tesco is handing back to the Treasury its undeserved £585m pandemic freebie on business rates. The chances of a U-turn had seemed remote.Only two months ago, Tesco’s board defended keeping the money. While some of us regarded that stance as disgraceful, it would be hard to say the direc
  
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• 1500 jobs at risk as Bonmarche falls into administration again

  02-12-2020 12:30 via retailgazette.co.uk
  // Bonmarche falls into administration for the second time in just over a year
  // While no redundancies or store closures have been revealed, it put 1500 jobs into uncertainty
  // Administrators say Bonmarche’s 225 stores will remain as they seek a rescue dealBonmarche has collapsed into administration for the second time in just over a year, putting more than 1500 jobs under threat.
  RSM Restructuring Advisory, which has been appointed to handle the administration, said all Bonmarche’
  
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• Bonmarché goes into administration for second time in a year

  02-12-2020 11:28
  
  Wakefield-based retailer was only bought out of administration by retail mogul Philip Day in FebruaryThe fashion retailer Bonmarché has fallen into administration for the second time in a year as the crisis among high street retailers continues to mount.The Wakefield-based retailer, which was only bought out of administration by the retail mogul Philip Day in February, sells fashion for women over 50 and has more than 225 shops and 1,500 staff. Continue reading...
  
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• Hamleys launches first ever Milton Keynes store in Centre:MK

  02-12-2020 11:09 via retailgazette.co.uk
  // Hamleys launches its first store in Milton Keynes
  // The pop-up retail concept is located within Centre:MK
  // The new store adds to Hamley’s bricks-and-mortar network, which comprises of nearly 200 locations worldwideHamleys has launched a pop-up retail concept at Milton Keynes’ Centre:MK, in a bid to expand its presence in the region.
  The world-renowned toy retailer will be located at 148 Midsummer Arcade for four months, and offer customers a  selection of games, puzzles, a
  
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• Cyber Monday sales drop 10% following disappointing Black Friday

  02-12-2020 11:08 via chargedretail.co.uk
  
  Cyber Monday sales in the UK fell nearly 10 per cent compared to last year, following a disappointing Black Friday for struggling retailers.
  According to Barclaycard, which processes close to a third of all transactions in the UK, payment volumes dropped 9.9 per cent over Cyber Monday.
  This followed an even greater drop in sales on Black Friday, when Barclaycard reported a 16.7 per cent year-on-year drop in spending.
  “While transaction volumes are still down compared to last year, the gap
  
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• MPs keep “close eye” on Arcadia collapse as they demand answers on pension payments

  02-12-2020 10:27 via retailgazette.co.uk
  // UK government to keep “close eye” on Arcadia’s administration process
  // Arcadia stores, which include retailers such as Topshop, Burton and Outfit, will remain open for the time being
  // The retail group fell into administration on Monday, putting over 13,000 jobs at riskUK ministers have reportedly pledged on keeping “a close eye” on Arcadia’s administration due to the controversy surrounding the management of the company.
  Cabinet Office minister Michael
  
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• Mike Ashley under fire for offering Arcadia £50m lifeline but ignoring rent bills

  02-12-2020 10:01 via retailgazette.co.uk
  // Mike Ashley criticised by landlord for refusing to pay rents on stores but offering £50m lifeline to Arcadia prior to its administration
  // Frasers Group landlord First Property Group CEO Ben Habib criticised Ashley for “inexcusable” payment delays and owing thousands in unpaid rent
  // First Property Group is considering legal action against Frasers Group next year if it does not pay its rent billMike Ashley has reportedly come under fire after offering a £50 million l
  
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• Queues form as England's high streets reopen after lockdown

  02-12-2020 09:53
  
  Primark stores were some of the first shops to open their doors at 7amCoronavirus – latest updatesSee all our coronavirus coverageEngland’s high streets returned to business slowly and tentatively on Wednesday with queues outside some Primark stores as they became some of the first to open their doors at 7am.Stores in England are reopening after the month-long lockdown brought in by the government in its latest effort to control the spread of Covid-19. Continue reading...
  
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• Shop prices tumble as retailers ramp up festive discounting

  02-12-2020 09:43 via retailgazette.co.uk
  // Shop prices fell 1.8% in November compared with a year earlier, according to the latest Shop Price Index
  // This marks a sharper decline than a 1.2% drop seen in October
  // November’s decline was driven by non-food prices, which fell by 3.7%, after a 2.7% fall was recorded in OctoberShop prices continue to tumble in the run-up to Christmas amid the crisis on Britain’s high streets, which has left retailers in a precarious financial position, a report has said.
  Those selling fashio
  
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• Non-essential retail to reopen today as England ends second lockdown

  02-12-2020 09:29 via retailgazette.co.uk
  // Thousands of non-essential stores are getting ready to make a comeback as England’s second national lockdown comes to an end
  // Much of England moves to Tier 2 or Tier 3 restrictions, which limits social contact but allows shops to operate
  // Northern Ireland & 11 council areas in Scotland, including Glasgow, remain in lockdown for another week or soRetail business leaders hope customers will return to their local stores in the final weeks before Christmas as the current lockdown en
  
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• Tesco to pay government £585m it saved from business rates holiday

  02-12-2020 09:14 via retailgazette.co.uk
  // Tesco to hand over £585m it saved from the business rates holiday
  // Chairman John Allan said Tesco did not need the saving as has remained open during the pandemic
  // Supermarkets face growing calls to hand back the savings which were aimed at helping retailers unable to openTesco has said it will return to the government £585 million it saved from a business rates holiday introduced to help struggling retailers amidst the Covid-19 crisis.
  Chairman John Allan said the board &ldqu
  
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• Tesco to pay back £585m of Covid business rates relief

  02-12-2020 09:10
  
  Supermarket says it is ‘conscious of our responsibilities to society’Coronavirus – latest updatesSee all our coronavirus coverageTesco is to pay back the £585m in business rates relief accepted from the government to help it weather the coronavirus pandemic, months after paying investors hundreds of millions in dividends after sales soared.Tesco, which said “every penny” of the rates relief had been spent on responding to the pandemic, added that in making the
  
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• Tesco to repay £585m of Covid-19 business rates relief – business live

  02-12-2020 08:44
  
  Rolling coverage of the latest economic and financial newsTesco to hand back £58m of business rate reliefFollows criticism for paying dividends to shareholders 7.44am GMT John Allan, Tesco’s chairman, adds the Tesco is ‘financially strong enough’ to repay the the money.“The Board has agreed unanimously that we should repay the rates relief we have received. We are financially strong enough to be able to return this to the public, and we are conscious of our responsi
  
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• 23 days to save Christmas: UK retailers fight Covid gloom

  02-12-2020 07:00
  
  Collapse of Debenhams and Arcadia casts shadow as stores hope for festive sales rush Coronavirus – latest updatesSee all our coronavirus coverageFor nearly a month festive shop windows and twinkling fairy lights have been wasted on empty high streets but that changes on Wednesday when the end of shopping restrictions in England hands retailers 23 days to save Christmas.Retailers have drawn up the battle plans they hope will enable them to safely concertina two months’ worth of Christ
  
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• Troubles of famed Paris bookshop expose French retail shift

  02-12-2020 06:00
  Pandemic has hit bricks-and-mortar stores like the much-loved Gibert Jeune in the Latin Quarter
  
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• Tesco to repay business rates relief

  02-12-2020 01:00 via theretailbulletin.com
  
  Tesco is to repay the £585 million worth of business rates relief it received from the UK Government and devolved administrations during the coronavirus pandemic. The... View Article
  
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• Shoe Zone opens new concept stores

  02-12-2020 01:00 via theretailbulletin.com
  
  Footwear retailer Shoe Zone is set to open four new concept stores when shops are permitted to reopen after the current lockdown. The shops in Telford,... View Article
  
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• Foot Locker chief financial officer to retire

  02-12-2020 01:00 via theretailbulletin.com
  
  Foot Locker has announced that its chief financial officer Lauren Peters is to retire next April. The company has now embarked on a search for her... View Article
  
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