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Debenhams edging closer to CVA About 2 weeks ago

Debenhams are reported to be looking at entering into a company voluntary agreement, which could bring forward the closures of around 20 stores this year. The retailer is currently in talks with banks to up its borrowings ahead of its quarterly rent payment, which is due on March 25th. Debenhams confirmed in...

Ikea to trial furniture rental service About 2 weeks ago

Ikea has released a pilot project in Switzerland, which will look at the possibility of hiring out furniture as part of an environmentally friendly policy by the retailer. It has already introduced programmes designed to reduce wastes, such as the service to take back old beds or sofas to then be...

Nissan chooses Japan over Sunderland to produce new X-Trail About 2 weeks ago

Nissan has confirmed that the new X-Trail, which was originally set to be produced in Sunderland, will now be made in Japan. In a letter addressed to employees, the company said that the continued uncertainty around Brexit is not helping businesses to ‘plan for the future’. The government said that although Nissans...

Redundant Patisserie Valerie staff not receiving final month of pay About 2 weeks ago

According to reports by the BBC, staff members made redundant by Patisserie Valerie have said that they haven’t received pay for their final months work. Around 900 staff members lost their jobs when KPMG closed 70 of the chains outlets. Affected staff members must now apply to the government for redundancy and...

Mike Ashley adds Sofa.com to his growing portfolio of retailers About 2 weeks ago

Sports Direct owner Mike Ashley has purchased Sofa.com. He managed to beat the likes of the ScS Group to the online retailer, which is already stocked in eight House of Fraser stores. The deal will see Ashley take over all nine of the furniture retailer’s showrooms.  All outstanding customer orders will be...

Mike Ashley owned businesses take over 3% of all non-food retail spend About 3 weeks ago

Businesses in Mike Ashley’s growing group of retailers rake in 3.2% of all non-food retail spend.  Mike Ashley founded Sports Direct in 1982, and has since added to his fortune by buying struggling retailers from desperate sellers. Ashley most recently acquired House of Fraser and is also said to be looking at...

Wearables announced as Apples fastest growing category as iPhone sale slip About 3 weeks ago

Apple has announced that its ‘wearables, home and accessories’ category is the fastest growing category, increasing by 33% from last year. IPhone sales have dropped for the first time in two years, dropping by 15%. The ‘wearables, home and accessories’ category includes the Apple watch as well as the Air Pods, which...

Avon set to cut 2,300 jobs About 3 weeks ago

Avon is set to be cutting 2,300 jobs this year. The plan for the company is to reduce its global workforce by a tenth, which would save the business £100m in expenses. Jan Zijderveld, chief executive, said in a statement: “Decisions like these are always difficult. However, we must take the actions...

Monsoon Accessorize files for insolvency in Germany About 3 weeks ago

Monsson Accessorize has filed for insolvency in Germany, in the local court of Ingolstadt. This comes after a drop in revenues at the German part of the business, which is the result of changing consumer behaviour. The German subsidiary employs around 190 people and currently operates over 30 stores.  It opened the...

Samsung launches task force to reduce plastic packaging About 3 weeks ago

Samsung is the latest retailer to commit to reducing its plastic packaging. The company has laid out plans to substitute more sustainable alternatives this year. It has launched a task force to spearhead its drive towards a more sustainable packaging. Samsung has said that in the first half of this year, it will...

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