Boohoo buys Arcadia brands Dorothy Perkins, Wallis and Burton February 8, 2021 Online fashion giant Boohoo has bought Arcadia brands Dorothy Perkins, Wallis and Burton out of administration in a £25.2m deal. Boohoo has bought the brands’ e-commerce and digital assets and associated intellectual property rights. The deal does not include the retailers’ physical stores and the brands will become online-only. All 214 Dorothy Perkins, Wallis and [...]
Central London retail investment doubles as fresh brands swoop on empty high street stores February 5, 2021 Less established brands swooped on discounted central London property in the final quarter of last year, as the collapse of former high street stalwarts has prime space up for grabs. Total central London retail investment in the fourth quarter of 2020 reached £475m, more than double the volume reported in the final three months of [...]
Calls to ‘send Philip Green the bill,’ as pension lifeboat fund begins Topshop assessment February 4, 2021 There have been fresh calls for the government to step in and demand retail tycoon Philip Green to plug Arcadia’s pension deficit, as the pensions lifeboat fund begins assessing the scheme. Earlier this week online retailer Asos said it had bought Topshop, Topman, Miss Selfridge and HIIT brands from Arcadia, which fell into administration in [...]
Asos purchases Arcadia’s principal brands to improve its own quality perception February 3, 2021 Online fashion giant Asos has announced it has beat competitors to purchase the four main Arcadia brands – Miss Selfridge, HIIT, Topman and Topshop – in order to become the number one fashion destination for young, fashion-conscious shoppers worldwide. Chief executive Nick Beighton said that the brands were a “natural fit” and resonated with their [...]
Sir Philip Green’s family set to make £50m from Topshop sale January 30, 2021 Sir Philip Green’s family is reportedly set to receive £50m from the sale of Topshop. The troubled retail group collapsed at the end of last year and its flagship brands Topshop and Topman reportedly failed with gross liabilities of more than £550m. The groups’ demise launched 13,000 jobs into uncertainty and became the biggest casualty [...]
Dr Martens valued at more than £3.7bn in London IPO January 29, 2021 British bootmaker Dr Martens started its London IPO in style on Friday, attracting bumper demand in a sale valuing the company at £3.7bn. Dr Martens’ shares were up 19 per cent in their market debut after the company priced the deal at 370p a share, raising nearly £1.3bn. Known for its chunky boots, Dr Martens [...]
General Motors to quit diesel and petrol cars by 2035 January 29, 2021 One of the world’s biggest car manufacturers has announced that it will cease production of all petrol and diesel vehicles by 2035. Overnight General Motors (GM) said that it was committed to ending “tailpipe emissions” from all new cars, SUVs and light pickup trucks in the next 14 years. The announcement came as part of [...]
Boohoo confirms talks with Philip Green’s Arcadia over high street retail deal January 29, 2021 Boohoo has confirmed this morning it is in exclusive talks with Philip Green’s Arcadia group over the acquisition of Dorothy Perkins, Wallis and Burton. Topshop owner Arcadia collapsed at the beginning of December, launching 13,000 jobs into uncertainty and becoming the biggest retail casualty of a harsh year on the high street. Boohoo said in [...]
FTSE 100 closes down as Reddit frenzy continues January 29, 2021 The FTSE 100 closed nearly two per cent down at the end of the week, with investors spooked following a volatile week in markets. London’s main market closed down nearly two per cent, and the FTSE 250 finished nearly 70 per cent down. Wall Street also suffered today, down more than two per cent [...]
Under the influence: How reality stars’ Dubai trips could sink social media marketing January 27, 2021 While online fitness guru Sheridan Mordew has undoubtedly succeeded at influencing people, she may be struggling to make friends. When the social media influencer, who posts workout videos for her thousands of online followers, insisted that her much-documented trip to Dubai was essential business travel, she was met with little sympathy. In fact, Mordew is [...]