What you may have missed from this weekend’s newspaper.
Sports Direct: Sports Direct has written to suppliers demanding a 20% discount on outstanding invoices. In a letter seen by The Sunday Times, commercial director Sean Nevitt said: ”We consider this reasonable and prudent treasury management and the discount will be used to support what will be out-of-season stock once the stores reopen.”
It also notes that the Frasers Group retailer will move to weekly payment for suppliers with a new electronic system.
Frasers Group has been contacted for comment.
John Lewis: John Lewis would take three to six week’s to reopen its 50-store chain once lockdown is lifted. The department store chain could re-open its stores as soon as the middle of May, however, it made clear that it would wait for the signal from the government.
The developed plan would see John Lewis opening stores with large car parks first to allow staff to drive to work. Larger stores such as London, Birmingham or Glasgow would likely remain closed until later phases of the plan.
Debenhams: The department store has begun buying up clothing stock unwanted by other retailers. The intention is to sell it on again at a discount price when the coronavirus lockdown is relaxed.
It will fill gaps in Debenhams’ seasonal ranges.
Mulberry: The luxury handbag brand has reopened its Somerset factory to produce reusable PPE gowns. It aims to deliver over 8,000 gowns over the coming weeks.
The equipment produced will be donated to the Bristol NHS Trust.
Drapers’ coronavirus update:
We’re working to keep delivering to your doorstep. If your magazine is delivered to your office and you’d like to change this, please email firstname.lastname@example.org or call 01604 828 705.
As a subscriber you can also read the digital editions of the magazine, which can be found under the ‘My Account’ tab on the main navigation bar.
Finally, make sure you’ve signed up to our newsletters by visiting ‘My Account’ and ‘Newsletters’.