Frasers adds troubled Missguided to empire in £20m takeover June 1, 2022 Frasers Group has snapped up beleaguered online retailer Missguided, the British retail giant confirmed in a regulatory filing today. The Mike Ashley-founded group, which owns House of Frasers and Sports Direct, has bought Missguided for £20m, following its collapse earlier this week. Fast fashion rival Boohoo was understood to be interested in buying the collapsed [...]
Missguided workers eye legal action after “emotionless” redundancies May 31, 2022 Missguided workers are eyeing legal action against the fast fashion brand as it hashes out a sale. After calling in administrators yesterday, the beleaguered online retailer is facing criticism from suppliers and former employees. Law firm Aticus has said it is readying legal action after employees have claimed the redundancy process was not properly managed. [...]
Missguided collapses into administration as fast fashion brand seeks buyer May 30, 2022 Missguided has collapsed into administration, after being hammered by supply chain costs and weakening consumer confidence. Fast fashion rival Boohoo is interested in snapping up the beleaguered brand, CityA.M. understands. Administrators from Teneo said there was “a high level of interest from a number of strategic buyers.” The Manchester-based firm had fallen foul of an [...]
Cineworld, ASOS and Boohoo: The 10 most shorted LSE stocks and the City fund managers that go after them May 25, 2022 Cineworld Group, the world’s second-largest cinema chain, is currently the most shorted UK listed company, according to the most up-to-date London Stock Exchange data. Some 8.2 per cent of its stock was held short by five investment firms, with New Holland Capital LLC holding the largest short position with 2.4 per cent of the company’s [...]
Slow fashion: Zara introduces return fee as customers ‘count every penny’ May 12, 2022 Zara has started charging customers who return items bought online as fast fashion giants face increasing pressure to reduce unsustainable behaviour. The retailer, owned by the world’s largest fashion company Inditex, has introduced a £1.95 fee for the return of products at third party drop off points. However, customers can still return online orders at [...]
Boohoo woes: Shares collapse as customers return more clothes than expected May 4, 2022 Boohoo faces further woes as the online retailer’s shares plunged after it admitted that consumers were returning items more than expected. Supply chain hang-ups have also led to longer delivery times, to the detriment of the Boohoo’s international proposition, it said on Wednesday. The beleaguered fashion firm recorded a revenue jump of 14 per cent [...]
Made in Britain: As Brexit and Covid dismantle supply chains, boom in ‘reshoring’ leads to renaissance in UK manufacturing April 18, 2022 sAs the government admitted last week that there are ‘significant challenges’ to UK stock levels because of Brexit and Covid, is reshoring then perhaps the answer? Last week’s government report, from the Office for National Statistics (ONS), revealed the full extent of tumbling stock levels and broken global supply chains in the wake of Brexit and [...]
Fast fashion: Shein raising funds at £100bn after IPO plans delayed amid Russia conflict April 3, 2022 Chinese fast fashion retailer Shein is reportedly eyeing a funding round at a valuation of some $100bn. The Gen Z e-commerce giant is in talks with potential investors to raise around $1bn, according to a report from Bloomberg, citing people familiar with the matter. Bosses are still mulling over the plans, with potential for details [...]
Investors pile into bets against Cineworld as it tops list of most shorted stocks March 31, 2022 Investors have piled into bets against UK cinema firm Cineworld to make it the UK’s most shorted company, new data has revealed.
Higher return rates impact Boohoo’s sales growth March 10, 2022 Boohoo said today its net sales growth in the fourth quarter of FY22 was impacted by Brits’ post-pandemic ‘buy before you try attitude’ . The company explained that the higher rate of items returned was due to changing consumption patterns, as people shifted from buying more ‘athleisure’ during the pandemic to mixing it up with [...]