The best of the fashion business related headlines from the weekend's newspapers...
The Sunday Times featured a rare interview Paul McGowan, the head of retail restructuring firm Hilco. McGowan, who is involved in the administration of Woolworths and who handled the collapse of MK One earlier this year told the newspaper, "All the stuff we knew was going to fail has failed - MK One, Woolworths and Elvi. What is going to happen next is that failure is going to start moving up the field. It has already moved into homewares - we've seen that with Ponden Mill and The Pier - but the big step is when it moves into fashion." For the full interview click here.
The Daily Mail reported that JJB founder Dave Whelan had pulled out of a deal to buy the chain's fitness clubs over concerns about liability for leases. The newspaper said that Whelan, who is understood to have offered in excess of £50 million for the fitness clubs, was worried about the financial liabilities for leases should JJB Sports fail.
The Irish Times reported that retailers had lost millions this weekemd after shoppers with AIB debit and credit cards were unable to use their cards. The AIB processing systems failed for at least an hour on Saturday afternoon and caused large queues at cash points as shoppers tried to get cash to pay for their Christmas shopping. Some retailers were forced to turn shoppers away.