Arcadia is now operating in administration with speculation that Boohoo, Frasers, Next and M&S would be interested in buying parts of it. There are also fears over the knock-on effect on its suppliers.
The end of England’s second lockdown can’t come quick enough for store retailers. As they brace themselves for a three-week pre-Christmas shopping frenzy, they’re already having to play serious catch-up.
Giant fashion group Arcadia is believed to be on the verge of the worst UK corporate collapse of the Covid crisis, with the firm expected to go into administration as early as Monday. This would put 13,000 jobs at risk.
Over 30 retail brands from across the London’s King’s Cross and Coal Drops Yard retail destination have launched a combined ‘United We Shop’ campaign, supporting the area’s extensively redeveloped shopping streets.
Barclaycard has said that the volume of sales transactions up to 4pm was down 16.7% on Black Friday. The company’s figures are particularly useful because it actually almost £1 in every £3 spent in the UK.
Profitable and debt-free are two elements to any results statement worth opening with in Covid-crushed times like these. So it’s little wonder Australia-based e-tailer MySale Group was in an upbeat mood Thursday.