Issue 2019 March 5th

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    UK special: Department store group issues shock trading announcement

    Struggling UK department store chain Debenhams has issued another profit warning as its sales continue to fall. In a trading update today, the retailer said the forecast it made on 10 January, when it said full-year profits were set to hit analysts’ expectations of about £8.2m, was “no longer valid”. Like-for-like sales at the firm [...]
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    UK special: Fashion brands to shed jobs as founder steps up takeover attempt

    UK fashion retailer Superdry is cutting about one in five jobs at its head office as the struggling fashion brand resists the return of co-founder Julian Dunkerton to steer the business. The company confirmed it had begun a consultation with staff at its Cheltenham headquarters, where it has about 1,000 staff, which could result in [...]
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    UK special: Retail niche specialist looks to CVA after over-expansion

    Embattled stationary retailer Paperchase has proposed a controversial restructuring process after it became the latest high street chain to opt for store closures amid a swathe of industry-wide challenges. The group is set to shut down five of its 145 stores while putting another 23 at risk of closure amid efforts to slash its rent [...]
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    UK special: Casual dining chains confirm store closures

    UK casual dining brands Giraffe and Ed’s Easy Diner have become the latest victims of Britain’s F&B crunch, announcing plans to close 27 restaurants at a cost of more than 300 jobs. Almost a third of the duo’s outlets will shut as part of a company voluntary arrangement (CVA) by parent Giraffe Concepts, part of [...]
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    UK special: Is Amazon set to ramp up Fresh and Go?

    Amazon is reportedly set to expand its online grocery business nationwide as it ramps up competition with Ocado. According to reports, Amazon has been growing the team for its online grocery business – Amazon Fresh – over the past year, suggesting it could expand the service so it can be offered outside of London and the [...]