Mike Ashley’s Frasers Group ups stake in German fashion brand Hugo Boss, again June 22, 2022 Mike Ashley’s Frasers Group confirmed this morning it has increased its stake in luxury German fashion brand Hugo Boss once again. Frasers said it now has 3.4 million shares – a 4.9 per cent stake – in Hugo Boss and holds buy options over another 26 per cent shareholding. The group said its investment in [...]
650k retail jobs lost in the past five years amid fears of unfair high street tax bills ahead June 13, 2022 Some 650,000 retail jobs have been lost in the past five years, as the high street comes under threat once more with consumer spending dropping amid historic inflation. The Centre for Retail Research has found that some 645,204 retail jobs have been lost and 72,580 stores closed across the UK since 2017. High street heavyweights [...]
Garment workers in Leicester face ‘many constraints’ in accessing fair pay and conditions still June 13, 2022 The government must do more to tackle the exploitation of garment workers across the country, a report into Leicester workers has found. Garment workers in the city still face obstacles to fair pay and conditions, according to a study from the University of Nottingham and De Montfort University, commissioned by the Garment & Textile Workers [...]
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 [...]
Swapping fast for second-hand fashion: Love Island announces eBay UK as new brand partner May 19, 2022 Love Island has swapped fast fashion for second-hand fashion, announcing a new brand partnership with eBay UK this morning.
Missguided: Sales documents sent to private equity firms as fashion giants circle retailer May 3, 2022 Fast fashion firm Missguided is reportedly wooing potential buyers as the retailer faces an uncertain future. According to the Daily Mail, the Manchester-based firm has recruited consultants to work on a deal, with the possibility of an agreement being inked this month. Names reportedly in the running include Asos, Shein, Mike Ashley’s Frasers Group and [...]
Missguided: CEO steps down as fashion firm hires Teneo advisors April 20, 2022 Online fashion retailer Missguided has said its founder will step down as CEO as it mulls options for its future. Nitin Passi has chosen to step aside as head of the company as the fashion firm has recruited advisors from Teneo to probe “strategic options” for its future. According to RetailWeek, Missguided is searching for [...]
The City View: Keeping The Lights On March 7, 2022 In this Monday episode Andy Silvester chats to Jack Barnett, City A.M.’s Economics and Markets reporter, about European market reaction to Russia-Ukraine; energy prices and how commodity price hikes could impact inflation; and the difficulty for countries in switching off from Russian energy. Andy also takes us through the headlines: Sanjeev Gupta, CEO of Liberty [...]