Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

The Monday Briefing: Arcadia, Zalando and H&M

What you missed from this weekend’s newspapers 

Arcadia to delay pension payments: Sir Philip Green’s Arcadia Group is planning to defer a series of contributions to its pension scheme in a bid to conserve cash through the coronavirus crisis.

Arcadia has declined to comment. 

Zalando: The German retailer will keep its warehouses and distribution centres open amid coronavirus.

Burglars target empty shops under coronavirus lockdown: Criminal gangs have begun to take advantage of the government lockdown of non-essential shops, with police responding to burglaries at stores across the UK, The Sunday Times reported. 

Burglaries occurred last week in Manchester, Liverpool, Middlesbrough, Hartlepool and Glasgow. Police have begun carrying out night patrols in “ghost town” urban centres.

H&M: Swedish fashion giant H&M has threatened to walk away from store leases if turnover does not return to pre-coronavirus levels once the pandemic is over, Retail Week has reported. 

The retail group has written to landlords for agreement on terms to allow H&M to break store leases with one month’s notice. 

A spokeswoman told Drapers: ”This is an extreme situation and H&M group is working extensively to manage the Covid-19 situation, the highest priority being the safety of employees and customers. All activities in the company are now being carefully evaluated – including costs and risk perspective – to be able to mitigate the negative effects associated with the virus as far as possible. We cannot go into specific details, but our intention is to handle this extraordinary period in the best way possible and work with our long-term partners. We see it as a joint responsibility between us and our partners to ensure a financially stable and sustainable future for our businesses.”

 

 

 

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.