The financial cost of Covid could jump for many non-essential retailers, given a second High Court ruling over rent arrears. Retail group Frasers has been ordered to pay rents accrued since the start of the pandemic.
Gap may be exiting the UK market as far as company-operated shops are concerned, but it wants to make the most of the reopening in England. It will launch a kidswear pop-up in the Westfield London mall on April 12.
The owner of London’s Westfield shopping centres said on Wednesday it would massively trim down its US presence and complete a remaining €3.2 billion-worth of European asset disposals before the end of 2022.
Kurt geiger has filed its accounts for the year to February 2020 and reported a record performance, with sales up 3.7%. It said this was pleasing in light of the wider subdued retail trading environment pre-pandemic.
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”.