Issue 2019 October 1st

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    US fast fashion retailer enters Chapter 11

    US fast fashion retailer Forever 21 announced on Sunday that it had filed for Chapter 11 bankruptcy. The clothing chain will file a motion to close up to 178 stores. The company, which has over 800 stores, said in a letter to customers that “the decisions as to which domestic stores will be closing are ongoing, [...]
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    Bringing data together: The London initiative

    London West End BID is hoping to roll out its new data format according to Jace Tyrell, chief executive, New West End Company. The organisation will formally launch its report into its joined up data strategy later this month, as it looks to combine data sources to create strategic learnings. Tyrell told the ICSC Retail [...]
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    UK REIT continues with divestment of schemes as it reduces debt  

    Hammerson has exchanged contracts for the sale of Abbotsinch Retail Park, Paisley to Ashby Capital for £67m. The sale price represents a net initial yield of 7.8% and is 3% below book value as at 30 June 2019. Covering 24,600 sq m of floor space, Abbotsinch is located five miles west of Glasgow and is [...]
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    Co-work giant ditches IPO among prospect of cost cutting

    WeWork has pulled plans for a share sale after ousting its founder and amid investor scepticism over its sky-high valuation. The decision leaves the office rental company facing a cash crunch as its new bosses prepare to make deep cuts to stem its massive losses. In a statement, WeWork’s newly installed co-chief executives, Artie Minson [...]
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    Grosvenor launches retail air quality measurement first

    Grosvenor Europe (Grosvenor), part of Grosvenor Group Limited, the privately-owned international property group, has launched a first of its kind air quality monitoring scheme in its Swedish retail portfolio. The programme will help the business better understand local air conditions impacting tenants, visitors and employees, identify energy savings and achieve a more positive, direct impact [...]