Sir Philip Green named in parliament as tycoon at the centre of sexual harassment claims October 25, 2018 Sir Philip Green was named in parliament today as the business leader at the centre of claims of sexual harassment and racial abuse after the media was barred from reporting the allegations. The Topshop billionaire was named in the House of Lords by Peter Hain, the former leader of the House of Commons, under parliamentary privilege. [...]
Beware office banter – you don’t know who you might offend November 19, 2018 Late last month, Topshop owner Sir Philip Green rejected allegations that he had engaged in unlawful racist or sexist behaviour, saying that as far as he was concerned there had been some banter, but that this had never been offensive. At this stage, it is not possible to say whether there is any truth at [...]
H&M takes a $20m stake in fintech startup Klarna October 8, 2018 Swedish fintech startup Klarna has today announced a global partnership with fashion powerhouse H&M, which included a $20m (£15.3m) investment in the business. The deal will see Klarna integrate its digital payments technology into H&M's physical and online stores via its payment programme H&M Club1. Klarna allows shoppers to pay securely for products online with flexible payment options [...]
The Beatles’ last message from Savile Row is being echoed by today’s bespoke tailors January 30, 2019 Exactly 50 years ago today the Beatles sang together for the final time. On the rooftop of the Apple offices at 3 Savile Row, they set up a surprise live concert that lasted 42 minutes before the police intervened. After one last rendition of “Get Back”, the band called it a day, bowing out of [...]
Flopshop: Arcadia Group brand Topshop’s sales drop over Christmas February 5, 2017 Sir Philip Green’s fashion brand Topshop suffered a like-for-like sales drop of nearly 11 per cent over Christmas, the most important shopping period of the year. The Sunday Times has reported that sales across the Arcadia Group as a whole, which includes Dorothy Perkins, Wallis and Evans, fell by about 6.5 per cent. The poor [...]
Struggling House of Fraser’s brand perception is in decline June 13, 2018 Last week, retail store House of Fraser announced plans to close 31 of its 59 shops – including its flagship Oxford Street store – as part of a ‘rescue deal’. If the plans go ahead it could lead to the loss of 6,000 jobs across the UK. It is yet more bad news for the [...]
PwC faces record-breaking £10m fine over poor BHS audit June 12, 2018 Big Four accountancy giant PwC has been slapped with a record £10m fine from the Financial Reporting Council (FRC) for its work auditing high street retailer BHS, prior to the chain's sale for just £1. The PwC partner who conducted the audit, Steve Denison, is also facing a personal fine of £500,000 from the FRC relating [...]
Topshop logistics workers are going on strike February 15, 2017 Workers at a Topshop logistics centre are set to on strike over wages. Employees at sites in Solihull and Leeds have voted to walk out on 24 February and 26 February. The action comes after staff at the Solihull hub went on strike in the run up to Christmas. Read more: Flopshop: Arcadia Group brand Topshop's sales [...]
PwC faces record-breaking £10m fine over poor BHS audit June 12, 2018 Big Four accountancy giant PwC has been slapped with a record £10m fine from the Financial Reporting Council (FRC) for its work auditing retailer BHS prior to its sale for £1. The PwC partner who conducted the audit, Steve Denison, is also facing a personal fine of £500,000 from the FRC relating to his work [...]
Exclusive: Firebrand MP Frank Field hopes to lock horns with Sir Philip Green over Arcadia sale February 19, 2018 One of Westminster’s most dogged MPs is hoping to lock horns once again with retail tycoon Sir Philip Green following reports that the former BHS owner is looking to sell his retail empire to a Chinese textiles conglomerate. City A.M. understands Frank Field, the Labour MP who spearheaded the parliamentary investigation into Green’s doomed sale [...]