Tag : retail news
Arcadia furloughs head office staff Subscription
Arcadia Group has furloughed nearly all head office employees across the group, and the board and senior leadership team will take a salary reduction of between 25%-50% amid the coronavirus crisis.
British fashion manufacturers and designers have come together to produce masks and personal protective clothing (PPE) for frontline staff during the Covid-19 coronavirus.
Comment: The compelling case for slow fashionSubscription
Daniel Odermatt, senior product and marketing manager at Swiss textile company Ventile Fabrics, discusses the rise in “well-made” and performance-driven clothing materials.
Chancellor to overhaul SME aid scheme Subscription
Chancellor Rishi Sunak is reportedly preparing to overhaul the emergency aid scheme for small and medium-sized businesses (SMEs), to help prevent a deluge of coronavirus-related insolvencies.
Almost 50% of firms to furlough staff next weekSubscription
Nearly half of all UK businesses (44%) will furlough at least half of their workforce over the next week, The British Chambers of Commerce (BCC) have warned.
Drapers launches sustainability newsletter Subscription
Today Drapers is launching its new fortnightly Spotlight on Sustainability newsletter, which aims to help fashion brands, retailers and suppliers to navigate their way to a cleaner, greener future.
JD Sports withholds rent and service chargesSubscription
JD Sports has withheld rent and service charges for the quarter, amid warnings that the coronavirus crisis will have a “significant impact” on its outlook.
Anthropologie owner enters cash-preserving modeSubscription
URBN, which operates Anthropologie and Urban Outfitters, is taking additional measures to protect its financial position amid the Covid-19 outbreak, including borrowing $220m (£177m) to help protect its cash reserves.
Debenhams defers concession paymentsSubscription
Debenhams is deferring all historic concession balances for 30 days, in a bid to mitigate the government’s “mandated” shut down of its store estate.
Oasis and Warehouse Group delays supplier payments Subscription
The Oasis and Warehouse Group has informed suppliers that it will be delaying payment terms, in an attempt to protect the business during the coronavirus outbreak.