Creditors approve Monsoon Accessorize rescue plan July 3, 2019 Creditors have approved Monsoon Accessorize’s restructuring plan today which will see rents slashed at more than half of the fashion retailer’s leased stores. The store said its company voluntary arrangement (CVA) proposals had passed “with a majority significantly above the required threshold”. Read more: Creditors prepare to vote on Monsoon Accessorize rescue plan In total, [...]
MPs ratchet up the pressure on Sir Philip Green after Karren Brady resignation February 25, 2019 Sir Philip Green’s retail empire is facing the renewed scrutiny of politicians this afternoon after Baroness Karren Brady resigned from her role as chair of Arcadia. Brady, who had vowed weeks ago to stay in her post out of "a real sense of duty", has stepped down as non-executive chairman of Taveta, the holding company [...]
Hot weather fails to heat up high street retail sales in August September 6, 2019 Bricks and mortar retailers suffered a further blow last month as soaring temperatures failed to heat up high street sales. Like-for-like in store sales dropped 0.1 per cent in August from a base of minus 2.7 per cent in the same month last year as retailers were unable to convert rising footfall into purchases. Read [...]
Sir Philip Green abandons legal action against the Telegraph over legal injunction January 28, 2019 Sir Philip Green has dropped his legal action against the Telegraph over its accusations against him of multiple claims of sexual harassment and racism. Sir Philip, who denies the allegations, was named in parliament by Lord Peter Hain after an injunction prevented the Telegraph from identifying the businessman after an eight-month investigation. Read more: Sir [...]
Karren Brady’s resignation is a warning to unscrupulous leaders like Philip Green February 26, 2019 The scandal surrounding Sir Philip Green, the retail tycoon behind high street chains such as Topshop, Miss Selfridge and the now-liquidated BHS, just keeps playing. Since last August, when the Daily Telegraph was first barred by a legal injunction from reporting allegations of misconduct against Green, fresh accusations have continued to surface, from sexual harassment to [...]
Monsoon asks landlords to back rent cuts as part of rescue plan June 20, 2019 Monsoon Accessorize is planning to slash its rent bill for more than half of its stores, as it becomes the latest troubled retailer to turn to a controversial rescue plan in a bid to avoid collapse. The high street fashion chain is hoping landlords will back its planned rent cuts on 135 stores after offering [...]
Monsoon Accessorize landlords ‘call for stake’ in retailer as CVA approaches May 30, 2019 Four property giants have reportedly offered to support a financial restructuring at troubled fashion retailer Monsoon Accessorize – but only if it gives them an equity stake in the firm. Read more: Retailer Monsoon Accessorize 'plans to close dozens of stores' across UK British Land, Hammerson, M&G Investments and Roubaix Group have teamed up to [...]
Preparing for ambush: Why media training is critical August 23, 2019 Chief executives are in the spotlight like never before, with all the press attention of a Kardashian but none of the media savviness. What many don’t realise is that we’ve entered a new age of media, particularly when it comes to on-screen exposure. Where a chief executive would once have had hours if not days [...]
Sir Philip Green accuses Telegraph of colluding with Lord Hain in his naming in harassment story and bids to uncovers its sources January 23, 2019 Retail mogul Sir Philip Green is set for a court battle with the Daily Telegraph in an attempt to uncover the newspaper’s sources for its front page story alleging harassment by an unnamed businessman. Arcadia’s lawyers were granted an interim injunction preventing the naming of Green and Arcadia as the subjects of the piece. However, [...]
Hilco eyes up struggling retailer Bathstore June 21, 2019 Restructuring fund Hilco is set to pounce on UK retailer Bathstore as it teeters on the edge of collapse, it is reported. Hilco, which has already taken over struggling high street names like HMV and Homebase, is in the process of preparing for a take over of Bathstore, according to Sky News. Read more: Now [...]