Author: Dave Antrobus
The High Court has ruled against former BHS directors Dominic Chandler and Lennart Henningson, finding them liable for wrongful trading and misfeasance.The two former directors are ordered to pay a minimum of £18 million following the legal proceedings.Retail Acquisitions, led by Dominic Chappell, purchased BHS for a nominal sum, and further repercussions may follow for Chappell.The directors’ breaches of duty were significant enough to suggest that BHS should have entered insolvency sooner.The ruling emerged almost eight years post the collapse of BHS into administration.In a pivotal ruling by the High Court, former BHS directors Dominic Chandler and Lennart Henningson have…
Marks & Spencer continues its commitment to affordability by holding school uniform prices steady for the fourth consecutive year.Parents can access school uniforms at 2021 prices, such as three-pack polo shirts (£7-£15) and two-pack trousers (£11-£17).An early-bird 20% discount on school uniforms will be available from 2 July for a limited period.M&S introduces dedicated school uniform advisers in over 120 stores, supported by a £1m investment.The M&S Family Matters Index indicates cost of living concerns for 75% of families and highlights value as a priority for nearly half of the customers.Marks & Spencer has announced the freezing of school uniform…
The British men’s outdoorwear brand Trailberg is set to open its first permanent store at Manchester’s Arndale Centre this summer.Trailberg has committed to a five-year lease for a 1,300-square-foot space previously occupied by Cruyff.Manchester Arndale, a high-traffic shopping centre, recorded 46 million visitors in 2023.The centre continues to attract major brands, enhancing its position as a leading retail destination.Strategic developments are underway, with plans to fill all available retail spaces and boost the centre’s occupancy.The British men’s outdoorwear brand Trailberg is gearing up to launch its first permanent retail location in the bustling Manchester Arndale Centre this summer. This venture…
Creditors of Superdry have overwhelmingly voted in favour of a comprehensive restructuring plan, marking a significant step in the company’s turnaround strategy.The plan received a 99% approval from creditors, encompassing rent reductions and an equity infusion.CEO Julian Dunkerton is set to contribute up to £10m through an equity raise as part of the plan.The proposed measures include delisting from the stock market, pending shareholder approval.An extraordinary general meeting will be held to finalise certain resolutions.Superdry has secured a crucial endorsement from its creditors, as 99% of those who voted supported the company’s restructuring plan. This plan entails significant measures such…
British fashion brand White Stuff is expanding into the US market.The brand will be available in 18 independent stockists across seven US states.Initial trials were conducted in Michigan and Illinois with Showroom Code.White Stuff aims to include menswear and expand into department stores.The brand plans to double its wholesale revenue over the next four years.British fashion and lifestyle brand, White Stuff, is set to make its presence felt in the US market. This summer marks the brand’s expansion through 18 independent stockists located across the states of Illinois, Indiana, Ohio, Michigan, Iowa, Wisconsin, and Minnesota. This strategic move is part…
The New West End Company (NWEC) has released a manifesto with priorities for future UK governments.NWEC represents over 600 businesses in London’s West End, advocating for economic, public safety, and planning focus.The manifesto recommends a comprehensive review of the business rates system and tax-free shopping reintroduction.It emphasises public safety through action against organised crime and calls for revising policing funding models.The company insists that a flexible planning system is crucial for fostering innovation and growth.The New West End Company (NWEC) recently published a manifesto seeking prioritised attention from the United Kingdom’s political parties on economic growth, public safety, and planning.…
Recent developments involve Shein’s potential exclusion from the FTSE 100 index due to share floatation concerns and business ethics scrutiny.Marks & Spencer faces delays in planning approvals for its flagship store amidst political changes and financial inquiries.LVMH has appointed Cécile Cabanis as deputy finance director, marking a significant shift in its financial leadership.Shein’s business practices are under investigation following claims of excessive working hours by garment workers.These events signify important shifts in the fashion and retail industry landscape.Industry insiders suggest that Shein might not meet the UK’s FTSE 100 index’s requirements as regulatory stipulations necessitate a 25% minimum free float…
The global shipping industry continues to grapple with increased costs and delays following geopolitical tensions in the Middle East.Attacks by the Iran-backed Houthi movement have prompted major rerouting of shipping lines, affecting freight times and costs.The fashion industry’s supply chain has been significantly impacted, with companies seeking alternative transportation methods.Shipping rates have seen marked increases, with costs for transporting goods from Asia to Europe particularly affected.Retailers are adjusting their ordering practices in response to these extended shipping times and rising costs.The global shipping industry remains in the throes of increased costs and delays, significantly influenced by the geopolitical landscape in…
In 2024, the fashion industry is embracing new technological advances to enhance sustainability and efficiency.Retailers are shifting focus from customer data to supply chain data to streamline operations.Virtual reality and social media streaming are transforming the shopping experience.Artificial intelligence and high-tech processes are driving sustainable fashion innovations.The luxury fashion sector is re-evaluating exclusivity in product access and marketing.In 2024, the fashion industry is at the forefront of technological transformations, leveraging advances to enhance sustainability and operational efficiency. Retailers are notably shifting their focus from solely customer-centric data collection to integrating supply chain information. This strategic pivot aims to streamline operations…
Bira, representing independent UK retailers, files a £1bn claim against Amazon.The claim alleges Amazon misused retailer data for its own product strategies.This action represents the largest collective claim under the Competition Act.Confidential retailer data was allegedly used to divert sales to Amazon.Bira’s CEO emphasises the need for retailers to secure compensation.Bira has initiated a landmark £1bn legal claim against Amazon on behalf of approximately 35,000 independent UK retailers. The claim, lodged on 7 June, accuses the ecommerce giant of misusing confidential retailer data to infiltrate product markets and divert revenue from the retailers’ sales to its own operations. This allegation…
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