Retail news
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HMV agrees re-financing deal
- Posted:
- 07 June 2011 09:54
Embattled retailer HMV said today that it had agreed a refinancing deal which will secure its immediate future.Its banks, which include taxpayer-backed Lloyds Banking Group and Royal Bank of Scotland, have agreed to extend it a £220 million lending facility for the next two years.The deal includes issuing the lenders ...read more
HMV agrees £53million Waterstone’s sale
- Posted:
- 20 May 2011 11:20
HMV Group has announced today that it has agreed the terms of a deal to sell book chain Waterstone's to A&NN Capital Fund Management, a company in which Russian billionaire Alexander Mamut has an interest.A&NN has other investments in Moscow-based bookstore chain Bookberry, as well as Russian publisher Azbuka-Atticus, mobile ...read more
Mothercare to close 110 stores
- Posted:
- 18 May 2011 09:29
Mothercare today dealt a fresh blow to the UK high street as it unveiled plans to close 110 outlets and focus on out-of-town superstores.Rents will be cut on a further 40 stores, the Watford-based group said, squeezing incomes for high street landlords even further. The new focus will be on ...read more
ONS to reveal retail gloom
- Posted:
- 21 April 2011 11:46
A dire month for the high street is expected to be revealed today when the Office for National Statistics (ONS) releases official retail sales figures for March.The ONS is expected to show a 0.5% month-on-month decline as consumers rein in their spending in the face of serious headwinds blowing against ...read more
BRC reveals "biggest ever" drop in sales
- Posted:
- 12 April 2011 09:28
More evidence of the crisis on the UK high street emerged today after the British Retail Consortium (BRC) revealed the biggest sales drop in its history.With consumers reining in their spending on all but essential purchases, the BRC said total sales in March were down 1.9% on a year ago ...read more
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