A round up of the best fashion business stories from the weekend’s newspapers.
- US retailer American Apparel’s future looked uncertain as the deadline for it to update the New York Stock Exchange on its performance was today. It said that it was unable to file on time ‘without unreasonable effort and expense’. If the retailer fails to meet the deadline it faces being struck off the Exchange.
- The government’s austerity measures are taking a toll on the high street and are expected to hurt Christmas trading, The Sunday Times reported. The number of retailers showing signs of stress was up 3% in July compared with the same period last year.
- Italian brand house Max Mara and luxury label Louis Vuitton Moët Hennessy are each to open a store on London’s Bond Street, as luxury retailers snap up property on the exclusive shopping street, the Independent on Sunday reported. Analysts said retailers want to own stores to help fix costs and minimise rents.
- Hotter Comfort Concept, a family-run footwear brand backed by Gresham Private Equity, is expanding after tapping the market for stylish yet comfortable shoes for the over-50s, the Sunday Express reported. The Lancashire-based manufacturer and retailer plans to increase its number of outlets from eight to 25 after sales rocketed.