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 [...]
Troubled Moss Bros launches CVA proposal to tackle ‘perilous’ situation November 27, 2020 Struggling retailer Moss Bros has launched a Company Voluntary Arrangement (CVA) proposal to give it the best chance of emerging for the challenges brought on by the coronavirus. A CVA allows companies to settle debts by paying creditors over a fixed period, and it could see the closure of some of Moss Bros’ 125 UK [...]
Primark to reopen all stores in England with extended hours on 2 December November 27, 2020 Primark will reopen all of its stores in England when lockdown lifts next week, with extended opening hours to cope with higher demand ahead of the holiday season. The fast fashion giant has 153 stores in the country, 11 of which, including the White City store in west London, will open for 24 hours on [...]
Philip Green’s Arcadia ‘faces collapse’ in the coming days November 27, 2020 Sir Philip Green’s retail empire Arcadia, owner of Topshop, could appoint administrators early next week. Sky News reported the move could put 13,000 jobs at risk. The appointment of administrators could happen as early as Monday, although one source close to the story told Sky News the plan had not been finalised and could be [...]
First digital-only Black Friday set for bumper year as Covid-19 moves shoppers online November 27, 2020 England’s first ever digital-only Black Friday will not deter customers, with figures suggesting sales could be as much as 43 per cent higher than in 2019, with customers now familiar with the convenience of shopping online thanks to coronavirus. Figures from IMRG, the UK’s industry association for online retail, found this year’s Black Friday sales [...]
End of an era: Unilever trading in Amsterdam for the last time today November 27, 2020 Unilever’s Dutch shares will trade in Amsterdam for the last time today, before a unification of the group’s dual-headed structure that aims to put the consumer goods maker on a better footing to cope with an uncertain future. The merger over the weekend of Unilever’s Dutch and British corporate arms into one legal entity based [...]
It’s closing time for the nation’s pubs and bars — perhaps for good November 27, 2020 I’ve never considered myself a great fan of pubs. As someone who doesn’t drink beer and who came of age exactly as the golden age of pubs was on the wane (so aficionados tell me, citing the smoking ban as the moment the moment things started going downhill), the appeal has always been limited. But, [...]