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UK retailers voiced concern after ministers voted down Lords’ amendments to the Employment Rights Bill, a cornerstone of Labour’s labour market reforms.
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The expansion strategy is part of the company’s goal to extend its footprint to 1,500 locations, building on its current total of 1,060 outlets.
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The company also revealed that it plans to have at least 150 total stores by end of 2025.
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The decision comes on the heels of the company's initial closure of 32 out of its 147 locations, which resulted in the loss of 450 jobs.
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The transaction is expected to reduce VF's debt levels and support its growth on a pro-forma basis.
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