The best of the fashion business headlines from the weekend’s papers.
The Mail on Sunday ran a story that a new row could break out at JJB Sports over taxable benefits paid to directors after the chain completed its review of last year’s payments. In the firm’s annual report it said: “Following the end of the year, the company has discovered that certain executive directors, none of whom is currently a director, received taxable benefits of which it was not aware at the year end , and in respect of which details are still being ascertained.” Forms will be sent to HM Revenue and Customs related to the matter.
It also reported that retailers are planning a second big push to secure rent reductions after a series of financial reorganisations at struggling competitors that have forced concessions from landlords. Several retail chains told the newspaper that they intend to bring forward talks and negotiate early on contracts that end in the next three or four years.
The Sunday Express reports that the UK arm of restructuring firm Hilco has seen profits rise more that 500%. The company, which was involved in the administration of chains including Woolworths and MK One, grew profits from £1.5m to £9.3m in the year to January 3 2009. Turnover quadrupled to £48.8m.