The size of debt that forced Arcadia into administration was revealed Wednesday: £750 million. However, the group’s administrator Deloitte warned the final figure was expected to be "materially higher”.
Activity around the break-up of the Arcadia fashion retail empire is continuing and while the sale of Evans is the only firm development so far, it has emerged that the heavily mortgaged Topshop flagship is up for sale.
With the coronavirus having sent most of the world's luxury spending into a tailspin and China the only major economy expected to show growth this year, brands now depend more than ever on Chinese consumers for sales.
A number of shopping centres owned by failed UK malls giant Intu Properties have seen their futures made more secure as their creditors voted in support of proposals to put their finances on more solid ground.
As retailers grapple with the problem of surplus stock and how to store it, value retail giant Primark has appointed Savills to help it find space to store large amounts of stock from abroad that currently can’t be sold.
Hong Kong has taken over from New York as the city with the most expensive street as far as retail rents are concerned but Paris and London rents are growing fastest for luxury labels, two new reports show.