House of Fraser’s CVA is back under threat as a group of landlords has filed a legal challenge to the controversial insolvency process. A group of landlords have officially filed a petition in the Scottish courts, challenging embattled department store’s CVA, which was approved by creditors a month ago. The petition, understood to be the first posed against a CVA in Scotland, was filed on the grounds of alleged “unfair prejudice against certain creditors, as well as material irregularities in the implementation of the CVA”
Asda and its fashion fascia George have made a pledge to combat the use of microplastics in their clothing ranges, marking the retailer’s latest effort in the war on plastic.
Mike Ashley has not held back in his anger at Debenhams, accusing the department store for not following his advice after it left a major dent in Sports Direct’s annual profits. Speaking to The Telegraph , Ashley – who is the founder and chief executive of Sports Direct – said bosses at Debenhams continued to ignore his recommendations to make it more profitable.
More than one in nine Instagram influencers in the UK has bought fake followers, according to the country’s first comprehensive study of the marketing medium. According to influencer analysts CampaignDues, retailers are also the biggest spenders on influencer marketing, 34 per cent of all branded posts on Instagram coming from the fashion and style sector. Online fashion retailers like Missguided, Boohoo and PrettyLittleThing have used Instagram influencers to drive staggering levels of growth, and the retail sector has taken note of their success piling money into the fledgling medium
Marks & Spencer has culled its leasing team as it pushed ahead with streamlining its store estate in efforts to “build flexibility”. According to Property Week , the department store has halved its leasing agents, cutting ties with CBRE, Cheetham & Mortimer and DWR while retaining a relationship with Savills, MMX Retail and McMillen Wilson. The move marks the latest in M&S’s drive to boost efficiency in its operations and shed any dead weight.
Hermes has revealed healthy sales rises in its first quarter despite fears a slow down in the Chinese market could have dented growth in the luxury sector.
Retail warehouse vacancy rates have risen for the first time in 5 years throughout 2018 due to a dramatic rise in store closures. According to new data from Trevor Wood Associates, retail warehouse vacancy rates rose from 5.1 per cent at the end of the first quarter, to 6.3 per cent at the end of the second
The e-tailer continues to pile up technology patents, with its latest two covering robotic concepts for fulfillment centers.