Restaurants eat into retailers’ high street share August 8, 2019 Retailers are being edged out of the high street following a spike in change of use requests to convert shops into restaurants. More than a third of change of use applications made to councils last year were to swap retailers for restaurant or takeaways, despite the challenges currently facing the casual dining sector. Read more: [...]
Ocado reveals fire-fighting robot after robot factory blaze August 8, 2019 Online supermarket Ocado has filed a patent for a fire-fighting robot as the grocer seeks to improve fire safety at its distribution hubs. The design will allow the device to work within the grid system at the firm’s robotics distribution centres and will include a spraying mechanism to put out fires. Read more: Ocado bags [...]
New Debenhams CEO has ‘clear plan’ to save department store chain August 8, 2019 Restructuring expert Stefaan Vansteenkiste said he has a “clear plan” to save Debenhams after the retailer confirmed his appointment as its new chief executive today. Vansteenkiste, a director at turnaround specialist Alvarez & Marsal, joined the embattled department store in April this year as chief restructuring officer. Read more: Debenhams chairman to step down Previously [...]
Debenhams chairman to step down as restructuring expert appointed chief exec August 7, 2019 Debenhams chairman Terry Duddy is preparing to step down next month as the beleaguered department store’s owners appoint a restructuring expert as its new chief executive. Retail veteran Duddy, who previously ran Argos and Homebase, will leave chief restructuring officer Stefaan Vansteenkiste in charge of the company, Sky News reported. Read more: Debenhams prepares to [...]
Jack Wills stores at risk as Sports Direct kicks off landlord negotiations August 7, 2019 Sports Direct has begun to negotiate with landlords over rent cuts at Jack Wills stores, which could see some branches marked for closure by the end of this week. Mike Ashley’s company is seeking to slash rents at poor performing branches after acquiring the retailer earlier this week. Stores will be shuttered if a new [...]
Flutter Entertainment struggles in face of betting tax hikes as profit plunges August 7, 2019 Flutter Entertainment, the gambling group formerly known as Paddy Power Betfair, has suffered a difficult first six months under its new moniker, with profits falling by a quarter as significant betting tax increases kicked in. Firms in the gambling sector are trying to counteract the new regulation by boosting revenues. Flutter succeeded in doing this, [...]
The last resort: With travel operators running into trouble, here’s how to protect your holiday August 7, 2019 When you’ve spent hundreds or even thousands of pounds to escape to somewhere sunny for the summer holidays, you may have to stifle a scream when you find out that your travel operator has gone bust days before you were set to fly. This scenario will sound all too familiar to many families, after news [...]
Retailers beware, the online shopping revolution isn’t going anywhere August 7, 2019 Another week, another retailer biting the dust. The baked potato specialist Spudulike has closed all 37 of its branches, with a loss of nearly 300 jobs. Shopping centres are undergoing a sudden and dramatic squeeze, with many retailers only able to stay in business if granted a dramatic rent reduction. Last week, Intu Properties, owners [...]
Boohoo snaps up Karen Millen and Coast brands for £18m August 6, 2019 Fast fashion company Boohoo has bought the Karen Millen and Coast brands out of administration for £18.2m, putting more than 1000 jobs at risk as store closures loom. The online retailer said it made the acquisitions after Karen Millen entered administration this afternoon. Boohoo shares were up 6.65 per cent following the announcement. Read more: [...]
Domino’s CEO to quit as international arm takes huge slice out of profits August 6, 2019 The chief executive of Domino’s is set to step down, the pizza chain said today as it revealed that profits plunged in the first half of 2019. David Wild has informed the board that he will “retire from his role”, with the retailer kicking off a search for his successor. The figures The pizzeria blamed [...]