LK Bennett has filed for administration after appointing advisers to look at options for the business. With the retailer’s 39 stores now facing uncertainty, the move has put around 500 jobs at risk. LK Bennett has appointed EY to handle the administration process and 55 people have been made redundant from...
Sports Direct has requested a general meeting of the Debenhams department store chain in a bid to remove all current members of the retailer’s board except for Rachel Osborne. Sports Direct is also looking to have chief executive Mike Ashley appointed to the Debenhams board. With Sports Direct holding a 30%...
Boots will be reinventing its beauty offering by removing traditional beauty counters in 25 of its beauty halls and replacing them with “trending zones”, “discovery areas” and spaces for live demonstrations. Boots is also introducing 200 Boots beauty specialists in its stores who will be able to advise customers on beauty...
Lego has returned to growth in 2018 with revenue for the full year rising by 4% to 36.4 billion Danish kroner. The increase follows a drop in sales in the previous year for the first time since 2004. 2018 also saw the company increase its operating profit by 4% to 10.8...
Over 300 jobs have been lost at Better Bathrooms after the retailer has gone into administration. Administrators from FRP Advisory said that 325 staff members have been made redundant although ten head office and warehouse function staff have been retained on a temporary basis to assist with the administration process. Better Bathrooms’...
Ted Baker has confirmed that its founder Ray Kelvin has resigned from his role of chief executive. Mr Kelvin took a voluntary leave of absence from the company in December following harassment claims, all of which he has denied. However, an investigation by law firm Herbert Smith Freehills into the allegations...
Ted Baker has warned that its full year profit is to be lower than expected due to foreign exchange movements and costs associated with system upgrades and inventory write-downs. The company said in a statement: “Profit before tax is now expected to be in the region of £63 million; this is...
Total sales at John Lewis were down 4.8% last week on the same period last year. The retailer said that home sales fell by 9.5% due to discounts offered over half term by its competitors. However, John Lewis benefited from the unseasonably warm weather which led to outdoor furniture sales...
The Ocado Group and M&S have agreed to set up a new 50-50 joint venture which they claim will “transform” online grocery shopping in the UK. The joint venture will be called Ocado and will deliver M&S products from September 2020, when Ocado’s deal with Waitrose ends. M&S will buy a...
Travis Perkins has reported that full year revenue at its Wickes chain has declined by 2.5% and by 4.4% on a like-for-like basis after it faced a "challenging" DIY market. The company also said trading in the year to 31st December was impacted by poor weather conditions in March and...
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