Retail news

• Experts sceptical Wilko deal will emerge with creditors in driving seat

  25-08-2023 18:57
  
  Administrators have duty to put creditors’ interests over those of employees – and for creditors, liquidation may be the best optionHopes for a rescue of Wilko were boosted on Friday as the Canadian entrepreneur Doug Putman raised his bid for the budget retailer.Putman, who already owns HMV, appears to be the only party interested in buying the Wilko name and a serious chunk of the ailing retailer, and it is not clear whether his last-ditch offer will be enough to prevent it from bei
  
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• Frasers Group tops up Asos stake to nearly 20%

  25-08-2023 17:44 via retailgazette.co.uk
  
  Frasers Group has upped its stake in Asos once again, taking a near 20% holding in the fashion business.
  Mike Ashley’s empire increased its shares in the online retailer from 18% to 19.3% on Friday as it continues its investment spree.
  In addition to Asos, the retail group also upped its stake in Boohoo Group to 7.8% in July.Subscribe to Retail Gazette for free
  Sign up here to get the latest news straight into your inbox each morning Frasers Group also holds a 22.2% stake in
  
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• Clintons to shut 38 stores in bid to avoid total collapse

  25-08-2023 17:29 via retailgazette.co.uk
  
  Clintons is set to shut 38 of its cards shops in efforts to avoid insolvency and total collapse.
  According to the Evening Standard, an insolvency court approved a restructuring plan, meaning the company can rent the 38 unprofitable stores at risk of shutting and pay lower business rates.
  The business plan, presented by FRP Advisory and Jones Day, means the retailer will only pay 8.6p for each pound owed to its landlords and local councils for its unprofitable shops.Subscribe to Retail Gazette fo
  
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• HMV owner makes last-ditch bid to rescue Wilko

  25-08-2023 17:22
  
  Proposal by Doug Putman could save 350 stores and 10,000 jobs as union calls for employees to be prioritisedThe Canadian entrepreneur who owns HMV has put in a last-ditch bid to rescue the discount retailer Wilko with a proposal that could save 350 stores and 10,000 jobs.The new bid emerged as union leaders called for Wilko’s 12,500 employees to be prioritised, after an earlier offer from Doug Putman was rejected because debt holders could recoup more from a break-up of the business. Conti
  
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• Fenwick in talks for House of Fraser’s Guildford store

  25-08-2023 16:54 via retailgazette.co.uk
  
  Fenwick is in talks to take on the soon to be vacated House of Fraser store in Guildford.
  The department store chain is understood to be in negotiations to take on the 180,000sq ft unit, CoStar reported. The store is currently on a lease due to expire in 2039.
  It comes as House of Fraser revealed earlier this week it would be shuttering its Solihull and Guildford branches at the end of the month.Subscribe to Retail Gazette for free
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• Gymshark unveils world’s first modest billboard

  25-08-2023 16:51 via retailgazette.co.uk
  
  Gymshark has launched the world’s first modest billboard, in collaboration with fitness influencer Leana Deeb.
  Deeb is a Muslim athlete for the sportswear brand, who combines faith with fitness and has gained millions of followers on TikTok and Instagram.
  The modest billboard, based in Shoreditch, London, refers to a 3D billboard covered with physical fabric to create Deeb’s headscarf.
  The billboard is “the first of its kind to celebrate the millions of women that wear modest c
  
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• Watches of Switzerland: Rolex decision on Bucherer is awkwardly timed

  25-08-2023 16:31
  The temptation to sell more through the Swiss retailer will exist
  
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• John Lewis ditches free food for temps over Christmas to cut costs

  25-08-2023 15:31 via retailgazette.co.uk
  
  John Lewis has axed its free food offer for staff working throughout Christmas, in continued efforts to reduce costs.
  The department store retailer has given its festive temps free cooked breakfasts and Sunday roasts for the last two years.
  In the past, all workers across its stores and distribution centres were eligible for the free food.
  Perks included long-distance lorry drivers being able to order a packed lunch for their journey every day and workers in areas without kitchens having ac
  
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• Last-ditch deal to keep Wilko going is ‘stone dead’

  25-08-2023 15:05
  
  Union calls for employees to be prioritised as rescue bid from Canadian entrepreneur said to have been rebuffedUnion leaders have called for Wilko’s 12,500 employees to be prioritised, after a deal that could have rescued jobs at the ailing budget chain was rejected because its debt holders could recoup more from a break-up of the business.Doug Putman, the Canadian entrepreneur who rescued HMV from administration in 2019 and returned it to profit, is understood to have been attempting to t
  
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• ‘Usually it’s packed in August’: UK seaside towns suffer in cost of living crisis

  25-08-2023 14:44
  
  Torquay business owners tell of struggling to pay bills as footfall drops and people cut costs“Just look at it, this is the middle of the summer holidays,” says Phillip Garnsey, the exasperated co-owner of the Oggy Oggy pasty company, as he surveys an empty high street in Torquay.Just a few hundred metres up the road in the Devon town, the juxtaposition could not be more stark as families relax on the beach, enjoying one of the first sunny days of August, and paddleboarders make thei
  
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• M&S makes progress as government keeps period pants tax under review

  25-08-2023 14:28 via retailgazette.co.uk
  
  M&S has made headway on its ‘Say Pants to the Tax’ campaign calling for VAT on period underwear to be scrapped, after the government announced it was keeping the tax under review.
  The retailer, alongside period pants brand Wuka, kicked off the campaign last week, which has since seen Tesco, Sainsbury’s, Primark and Mountain Warehouse back the call.
  “Following just two weeks of pant-tastic campaigning, for the first time ever, the government has said it’s keeping
  
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• Retailers to axe jobs as spending continues to plummet

  25-08-2023 13:14 via retailgazette.co.uk
  
  Job cuts and reduced investment over the following months are looming for UK retailers, as the CBI found retail activity dropped for a fourth consecutive month.
  The organisation’s barometer of retail activity plunged to its lowest point since March 2021, as elevated interest rates continued to affect household finances.
  The CBI revealed trading conditions continue to look bleak for the upcoming months, leading to retailers reducing orders with suppliers.
  CBI principal economist Martin Sart
  
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• Watches of Switzerland shares plunge after Rolex buys rival

  25-08-2023 12:53
  Manufacturer’s acquisition of watch store chain Bucherer raises fears it could cut out UK retailer
  
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• German businesses’ confidence falls as economy stagnates

  25-08-2023 12:31
  Closely watched Ifo poll shows broad-based downturn in sentiment as statisticians confirm no growth in the second quarter
  
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• Shein inks deal with Forever 21 parent Sparc group

  25-08-2023 10:43 via retailgazette.co.uk
  
  Shein has formed a strategic partnership with the Forever 21 parent SPARC group as both parties look to boost their market reach.
  The deal sees the Chinese-based fashion retailer take a one-third interest in SPARC group, a joint venture between Authentic Brands Group and Simon Property Group. The venture will also take a minority stake in Shein.
  Shein will list Forever 21’s clothing and accessories on its website, which serves about 150 million users.Subscribe to Retail Gazette for free
  Si
  
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• Shein inks deal with Forever 21 parent company

  25-08-2023 10:43 via retailgazette.co.uk
  
  Shein has formed a strategic partnership with the Forever 21 parent SPARC group as both parties look to boost their market reach.
  The deal sees the Chinese-based fashion retailer take a one-third interest in SPARC group, a joint venture between Authentic Brands Group and Simon Property Group. The venture will also take a minority stake in Shein.
  Shein will list Forever 21’s clothing and accessories on its website, which serves about 150 million users.Subscribe to Retail Gazette for free
  Si
  
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• The real impact of scrapping tax-free shopping: Is change needed?

  25-08-2023 09:23 via retailgazette.co.uk
  
  From closing stores to reconfiguring product lines, the end of tax-free shopping for tourists has plagued the retail industry since it was axed at the end of 2020 as part of the government’s Brexit plans.
  The initiative was set to return last year when the country’s short-lived chancellor of the exchequer Kwasi Kwarteng announced he would reinstate the scheme during the Autumn Budget of 2022. 
  A month later the policy was scrapped by his replacement Jeremy Hunt, who said “
  
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• Nike will sell Mary Earps goalkeeper shirts after widespread backlash

  25-08-2023 09:20 via retailgazette.co.uk
  
  Nike has said it will put replica shirts worn by England goalkeeper Mary Earps during the World Cup on sale following widespread backlash from fans and athletes.
  Replica outfield players’ kits have already been on sale but Earps’ (who saved a penalty in the World Cup final) was not included, which she described as “hurtful”.
  The move sparked public criticism and a petition amassing over 73,000 signatures urging the sporting giant to U-turn, although it has yet to confirm
  
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• Specsavers hands parent company £15m payout despite falling profits

  25-08-2023 08:51 via retailgazette.co.uk
  
  The Specsavers chain has provided a dividend of £15m to its parent company in Guernsey, despite falling profits as the retailer looked to control any potential price increases for customers amid the cost of living crisis.
  According to the Times, accounts for Specsavers Optical Superstores, overseen by Dame Mary Perkins and her husband, Doug, as the ultimate controlling figures, reveal that a dividend was issued this year, following a lack of approved payouts in the previous year.
  Perkins a
  
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• John Lewis Partnership plans to recruit for over 10,000 roles

  25-08-2023 08:38 via retailgazette.co.uk
  
  The John Lewis Partnership is recruiting for more than 10,000 roles across the country, which it said is part of its “commitment to delivering exceptional service, no matter when, where, or how our customers prefer to shop with us.”
  Across Waitrose, the business is set to recruit over 2,800 seasonal roles across its 329 shops, including supermarket assistants, night shift, and customer delivery drivers.
  In its 34 John Lewis stores, it has over 2,900 temporary roles in sales and merch
  
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• John Lewis Partnership launches recruitment drive for over 10,000 new roles

  25-08-2023 08:38 via retailgazette.co.uk
  
  The John Lewis Partnership is recruiting for more than 10,000 roles across the country, which it said it part of its “commitment to delivering exceptional service, no matter when, where, or how our customers prefer to shop with us.”
  Across Waitrose, the business is set to recruit over 2,800 seasonal roles across its 329 shops, including supermarket assistants, night shift, and customer delivery drivers.
  In its 34 John Lewis stores, it has over 2,900 temporary roles in sales and merch
  
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• Ten dollars for a block of cheese?! Who is making the supermarkets do this?! | First Dog on the Moon

  25-08-2023 08:30
  
  It is a mystery! We may never knowSign up here to get an email whenever First Dog cartoons are publishedGet all your needs met at the First Dog shop if what you need is First Dog merchandise and prints Continue reading...
  
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• In pictures: Inside Pandora’s new Oxford Street store

  25-08-2023 08:28 via retailgazette.co.uk
  
  Pandora has opened the doors to its new store on London’s Oxford Street, which has been designed “to immerse visitors in the world of Pandora’s world of charms, bracelets, rings, earrings, and necklaces.”
  The new store is the third for the world’s largest jewellery brand along Oxford Street and will offer all collections, including a dedicated space for its lab-grown diamonds, as well as engraving services.The store, located opposite Tottenham Court Station’s
  
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• Shein strikes deal with parent company of Forever 21

  25-08-2023 02:00 via theretailbulletin.com
  
  Chinese fast fashion retailer Shein has embarked on a strategic partnership with Forever 21 owner SPARC Group. Under the agreement, Shein will acquire around a one-third... View Article
  
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• Sainsbury’s launches “biggest ever” Aldi Price Match campaign

  25-08-2023 02:00 via theretailbulletin.com
  
  Sainsbury’s has added over 40 products to its Aldi Price Match campaign, which the retailer says is the biggest yet with over 400 products. New items... View Article
  
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• Puma appoints new general manager for Europe

  25-08-2023 02:00 via theretailbulletin.com
  
  Sportswear brand Puma has appointed Javier Ortega to the position of general manager Europe. Due to take up his new role on 1 September, he will... View Article
  
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• Primark to open new Glasgow store

  25-08-2023 02:00 via theretailbulletin.com
  
  Primark is to open a new store at Glasgow Fort – its fourth in Glasgow and its 21st in Scotland. The new store, set to open... View Article
  
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• John Lewis Partnership to recruit for more than 10,000 roles

  25-08-2023 02:00 via theretailbulletin.com
  
  The John Lewis Partnership is recruiting for more than 10,000 roles in the run-up to Christmas. Jobs will be available across Waitrose and John Lewis stores,... View Article
  
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• H&M to re-open stores in Ukraine

  25-08-2023 02:00 via theretailbulletin.com
  
  H&M is planning to gradually reopen its stores in the war-torn country of Ukraine from November 2023. The group temporarily closed its shops in the country... View Article
  
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• BHF: Charity sees boom in young volunteers

  25-08-2023 02:00 via theretailbulletin.com
  
  A national charity has seen a boom in younger volunteers since the pandemic ended – as new research suggests Generation Z (people aged 16-24) are more... View Article
  
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