26 September 2025
26 September 2025
The deal, one of the largest in FTC history, sets aside $1.5bn for consumer redress and includes a $1bn civil penalty.
The closures come as retailers struggle with higher energy bills, rising rent and National Insurance costs, while shoppers increasingly favour online shopping.
Sales in local currencies rose 2% despite a reduction in the number of stores.
The new site will cover one million square feet and be fully operational by spring 2027.
Jackson, who had retired in May 2023, returned to the company in June 2025 as senior vice-president for new business development.
Prospective investors are pushing back on $1.25bn valuation established in 2022, proposing a range between $750m and $800m.
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