British retailer Debenhams recently entered administration after rejecting a £200m rescue plan from...
British retailer Debenhams recently entered administration after rejecting a £200m rescue plan from Sports Direct tycoon Mike Ashley. All 166 Debenhams stores will continue to trade, although 50 stores are expected to shutter. Three years ago, the retailer was worth £900m ($1.2bn), compared with £20m ($27m) as of this week.
Moss Bros found full-year 2018/19 challenging, with like-for-like sales falling 4.3%.
It is unlikely that Debenhams' reported £200m funding will be enough to implement the changes required to keep the retailer afloat.
Flannels' Oxford Street store, which will open in June, will serve to take advantage of the east end of Oxford Street and grant the retailer greater exposure, paving the way for overseas expansion.
British luxury fashion house Alexander McQueen has soft launched a virtual store, in China, on Tmall Luxury Pavilion, Alibaba Group’s dedicated platform for premium brands.
Coles Supermarkets has partnered with online grocer Ocado in order to build its online shopping and delivery capabilities. It represents the fifth major international deal that UK-based Ocado has formed in less than two years, after partnering with Kroger Co in the US, Casino in France, Sobeys in Canada, and ICA Group in Sweden.
Anchor retailers such as Marks & Spencer and Debenhams exiting secondary and tertiary town centres will result in other retailers suffering due to reduced footfall.