Topshop collapse: What went wrong for Sir Philip Green’s Arcadia retail empire? November 30, 2020 Topshop was a beloved high street brand, had secured lucrative partnerships with Kate Moss and Beyonce, and boasted star-studded front rows at its London Fashion Week shows. Now, it's facing collapse.
Black Friday boosts central London shopper numbers despite lockdown November 30, 2020 Black Friday boosted retail footfall in central London last week despite the closure of all non-essential shops. Footfall rose 4.8 per cent across all UK retail destinations compared to the previous week, soaring 21.6 per cent in central London and 5.1 per cent in outer boroughs. UK high streets and retail parks benefited the most [...]
Roasted: Caffe Nero rejects Issa brothers bid in favour of CVA November 30, 2020 Roasted: Caffe Nero rejects Issa brothers bid in favour of rent deals and restructuring
Corona Impact Series: A Shoreditch paper goods supplier forced to move online November 30, 2020 In this series, City A.M. looks at the financial and economic impact of the ongoing pandemic on a range of small and medium-sized businesses across London. Today: how a small stationery brand was forced to accelerate its digital transformation. “At the start of the first lockdown we had to close our five brick-and-mortar stores pretty much overnight,” sighs Sidonie [...]
Retailers allowed to open 24 hours over Christmas period, says minister November 30, 2020 Retailers will be able to operate 24 hours during the Christmas period through a relaxation of trading rules in a bid to boost spending on the UK’s High Streets. Communities secretary Robert Jenrick wrote for the Telegraph that he wanted councils to temporarily waive rules that restrict the hours shops can stay open in the [...]
Sir Philip Green’s Arcadia facing collapse within hours November 30, 2020 Sir Philip Green’s retail empire Arcadia, which owns high street brands Topshop and Dorothy Perkins, is reportedly on the brink of collapse this morning. The retail group could become the latest casualty of the coronavirus pandemic and appoint administrators as soon as this afternoon, City A.M. understands, which would put 13,000 jobs at risk. Mike [...]
Mike Ashley offers Philip Green’s embattled Arcadia emergency funding November 30, 2020 Mike Ashley has offered emergency funding to fellow retail billionaire Sir Philip Green’s Arcadia empire, which is on the brink of bankruptcy. After speculation that a deal was in the offing over the weekend, Ashley’s Frasers Group today confirmed that it had offered the Topshop-owner £50m in loans. It added that should the company enter [...]
Philip Green’s Arcadia collapse to push Debenhams to the brink November 29, 2020 The imminent collapse of retail group Arcadia will push Debenhams to the brink of liquidation, as potential buyer JD Sports considers backing out of the deal. JD’s board was supposed to decide whether to go through with the Debenhams acquisition by the end of last week, but has had second thoughts after learning that Arcadia [...]
Mike Ashley ‘offers Arcadia £50m’ as crows circle retail group November 28, 2020 Mike Ashley’s Frasers Group is suggesting a £50m loan to keep Arcadia Group in business as the crows circle around the failing retail giant. Plans for the emergency loan come as Sir Philip Green’s Arcadia prepares to call in administrators, according to Sky News. It would be one of the biggest corporate victims of the [...]
Tier two diners must leave pubs when meals are finished November 27, 2020 People living in areas under tier two restrictions will have to leave pubs once they have finished eating, Number 10 confirmed today. The Prime Minister’s spokesman today said that pubgoers would not be able to linger for more drinks once they have finished their meals. He said: “We’ve been clear that, in Tier 2 I [...]