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Tag: retail

Selfridges’ billionaire owners, the Weston family, have launched a formal auction to sell the historic department store business. It is understood that advisers at Credit Suisse will start looking for a buyer, with the company valued at as much as £4 billion. They will send out information memoranda – documents used to pitch the...
Tesco says it is creating 16,000 new permanent jobs in the UK as it sees “exceptional growth” in its online business. Most of the roles are expected to be filled by workers who joined temporarily at the start of the pandemic but want to stay for the longer term, the retail giant...
THE Sunday Times reported that workers at a factory in Leicester making clothes for Boohoo’s Nasty Gal brand could expect to be paid £3.50 an hour. It also saw little evidence of measures to stop the spread of coronavirus at a time when Leicester is in lockdown. Boohoo said if the report...
Intu the owner of some of the UK’s biggest shopping centres, has entered into administration. The firm, which owns the Trafford Centre, the Lakeside complex, Victoria Centre, Braehead and more, said earlier it had not reached an agreement in financial restructuring talks with its lenders. Its centres will stay open...
BLACK Friday discounts and bad weather have been blamed for a decline in Boxing Day shoppers, with retail analysts reporting a fall in the number of people heading for the sales. Springboard, which analyses customer activity in stores, said footfall up until midday had seen the largest decline since 2010,...
High street shops had their worst September for eight years thanks to Brexit uncertainty, new figures suggest, and one key sector saw purchases at their lowest since the 2008 recession. Other factors contributing to an in-store sales fall of 3.1 per cent, compared to a year prior and after an already weak 2.7 per cent...
ABOUT 16 shops are closing every day as retailers restructure their businesses and more shopping moves online. A net 1,234 stores shut on Britain’s top 500 high streets in the first half of the year, according to research by PwC and the Local Data Company. That is up from 1,123...
West End retailers are anticipating a rise in middle eastern customers celebrating the end of Ramadan with a shopping spree, research showed on Friday. New West End Company, representing 600 traders around Oxford Street and Bond Street, forecasts Muslim tourists will contribute heavily to the £13 million it expects international...
Retailers no longer have to pay millions of pounds in business rates for cash machines outside their shops, following a ruling by the Appeal Court. Since 2010 supermarkets and convenience stores have been liable to pay rates on the machines. But the court ruled that about £300m they have already...
Food and household goods were the only sectors to see volume sales go up.