What had once seemed unthinkable is now not only happening but accelerating as failed UK retailers' giant spaces are transformed for new uses. And a spate of news on Monday showed the extent of the issue.
In a typically blunt statement, Frasers Group has blasted Chancellor Rishi Sunak’s Budget as doing virtually nothing for hard-pressed retailers on business rates. And it seems some of its stores are at risk as a result.
Chancellor Rishi Sunak has unveiled what has been touted as the most important budget statement in decades. And there's plenty in the latest announcement that directly impacts the fashion and retail sectors.
Debenhams is closing its 15 Scottish stores immediately with 647 job losses as a result, its administrator said in an update on the process to wind down the remaining parts of the business that Boohoo didn't buy.
John Lewis Partnership has been quietly opening John Lewis department store concessions in its Waitrose supermarkets. And while only a few have opened so far, it's reportedly planning to speed up this process.
Selfridges had already flagged the fact that its sales rose and its net profits fell in the year to February 2020, but it has now officially filed its annual results and the full extent of that performance can be seen.
The 27-year-old Chinese-Australian fashion influencer has been appointed as editor-in-chief of Vogue China, becoming the youngest person to hold the position at any of the magazine’s international editions.