Giant fashion group Arcadia is believed to be on the verge of the worst UK corporate collapse of the Covid crisis, with the firm expected to go into administration as early as Monday. This would put 13,000 jobs at risk.
Frasers Group is continuing its deep dive into the luxury sector. On Thursday it announced that it has increased its already-large stake in leather goods company Mulberry and could make an offer for the brand.
The struggling British fashion and accessories brand, which is axing its Paris and Hong Kong comms teams, is also on the verge of discontinuing its ready-to-wear and footwear licences from Spring/Summer 2021.
The very public apology made by Frasers CEO Mike Ashley on Friday underlines the importance of good PR during the coronavirus crisis and an analyst has said that "exemplary ethics will pay off" once the outbreak is over.
Johnny Coca has left his position as creative director of Mulberry, the British fashion and accessories house, as announced on Tuesday, bringing down the curtains on a five-year stint at the famed UK marque.