Asos to create 2,000 jobs with new UK warehouse January 8, 2021 Online fashion giant Asos has pledged to create 2,000 new jobs via a £90m new warehouse in Staffordshire, the company announced this morning. The new 437,000 square ft site in Lichfield “will serve Asos’ growing number of customers in the UK and around the world”, the retailer said in a statement. Asos has seen sales soar [...]
Topshop owner Arcadia collapses putting 13,000 jobs at risk December 1, 2020 Sir Philip Green’s retail empire Arcadia, the owner of Topshop and Dorothy Perkins, has collapsed into administration, putting more than 13,000 jobs at risk. The company, which has become the biggest retail casualty of the coronavirus crisis, announced this evening that it has appointed Deloitte as administrator. More than 13,000 jobs are at risk following [...]
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.
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 [...]
Klarna-challenger Zilch becomes first ‘buy now pay later’ firm to secure FCA licence November 23, 2020 The City regulator has issued its first licence to a Buy Now Pay Later (BNPL)company, months after launching an inquiry into the unsecured credit market. London-based Zilch has become the first company in the UK’s BNPL market to become fully licensed by the Financial Conduct Authority (FCA). Zilch has worked with the regulator for over [...]
Forter valuation soars to $1.3bn after raising $125m in Series E round November 19, 2020 E-commerce fraud prevention platform Forter has raised $125m in a Series E round bringing its valuation to over $1.3bn. The round was led by Bessemer Venture Partners and Itai Tsiddon with participation from Felix Capital and Sequoia Capital among others. Forter said it would use the investment to expand its network, which has doubled in [...]
Government to double coronavirus testing with two new ‘megalabs’ November 16, 2020 The government has announced it will open two new “megalabs” to process a total of 600,000 coronavirus tests a day as part of plans to return Britain to normality next year. The sites, in Leamington Spa and Scotland, will double the UK’s current testing capacity when they open in early 2021. The government last month [...]
G20 agrees new debt restructuring framework in wake of pandemic November 13, 2020 G20 finance ministers have for the first time agreed a new common framework for restructuring government debt, amid concerns poorer countries will need unprecedented debt relief packages in the wake of the coronavirus crisis. Major creditors including China are expected to follow the fresh guidelines, which set out legislation to reduce or reschedule debt deemed [...]
Asos to launch budget brand as 20-somethings face economic impact of Covid-19 October 14, 2020 Asos is planning to launch a budget brand, the fast fashion retailer announced this morning as it warned that its core 20-something audience were vulnerable to losing their jobs during the coronavirus pandemic. The online retail giant said today that the new brand called “As You” will meet the gap in its portfolio for lower-priced [...]
Asos sounds cautious note on future demand after profit quadruples October 14, 2020 Asos reported a quadrupling in full-year profit following a spike in online shopping during the coronavirus pandemic, but warned on the outlook for consumer spending among its young customer base. The fashion ecommerce giant reported profit before tax of £142.1m for the year to 31 August, up from £33.1m the year before. Read more: Asos [...]