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98 jobs lost as Toys R Us closes distribution centre

Toys R Us’ UK distribution centre closed today making nearly 100 staff redundant as the failed retailer continues its “orderly wind down”. Joint administrators Simon Thomas and Arron Kendall from Moorfields Advisory announced the closure of the retailer’s site in Coventry.

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3000 jobs to go as Toys R Us confirms “controlled” store closures

All of the UK stores that belong to Toys R Us are now poised to shut down after administrators failed to find a buyer for the collapsed retailer, resulting in a store closure programme that affects 3000 jobs. The UK arm of the embattled US-based toy chain appointed Moorfields Advisory partners  Simon Thomas and Arron Kendall to oversee an administration at the end of February






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New Look plans CVA requesting up to 60% reduction in rent

New Look has announced plans to slash 60 per cent of its rent bills while offloading loss-making stores as it struggles to stay afloat. Earlier this week it was revealed that the retailer’s finance director Richard Collyer wrote to landlords to seek meetings to discuss possible store closures and rent reductions. This has now been confirmed, and the embattled retailer is understood to be seeking a company voluntary agreement (CVA) which could enable it to shutter underperforming stores and negotiate rent reductions on the remaining stores






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Macy’s exits Plenti loyalty program

The multi-retailer program, run by American Express, is in discussions with the remaining partners about its future.






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New Look crisis deepens as it considers CVA

New Look is reportedly drawing up plans for a Company Voluntary Agreement (CVA) after its insurers cancelled cover to its suppliers. According to Sky News , the fashion retailer is allegedly putting together a plan to close around 10 per cent of its stores and restructure its finances with a CVA






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Brookfield Property’s $14.8B bid reportedly rejected by GGP

The mall developer's largest shareholder last month said that it made a non-binding proposal to acquire the remaining 66% of GGP, but analysts say the offer was too low.






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Brookfield Property’s $14.8B bid reportedly rejected by GGP

The mall developer's largest shareholder last month said that it made a non-binding proposal to acquire the remaining 66% of GGP, but analysts say the offer was too low.






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45 jobs cust as Shoon enters administration

Shoon has fallen into administration after attempts to find a buyer fell apart, putting around 45 people out of work.






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Blockbuster mall deal: General Growth Properties receives $14.8 billion bid

Brookfield Property Partners has bid $14.8 billion bid to acquire all the remaining shares in General Growth Properties that it currently doesn’t own.






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Bunnings UK hit by losses in maiden year

Bunnings has recorded a loss in its first full year in the UK, as it pushes ahead with its expanding its presence in the local home and DIY market. The Australian retailer, whose parent company Wesfarmer acquired Homebase in February last year, posted losses before inflation and tax of £54 million in its fiscal year ending June 30






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