In 2018, Neiman Marcus Group, owned by Ares, completed a transaction that moved MyTheresa, the German luxury e-tailer it acquired in 2014, out of its debt structure. The transaction proved very controversial as creditors began filing lawsuits saying that Ares did this to keep creditors away from the […]

The brand, online retail business and assets of British luggage label Antler have been bought from administration by an ATR group company. The brand was placed into administration on 18 May during the UK's lockdown. Companies working in the travel sector have been hit particularly hard by Covid-19 and […]

Marks & Spencer has confirmed it is looking to cut hundreds of jobs as part of its ‘Never the Same Again’ restructuring programme. The company said 950 jobs are at risk, across central support functions in field and central operations and property and store management. Announced during the company’s […]

Luxury British department store chain Harvey Nichols is reportedly preparing to cut jobs as the UK retail industry grapples with the impact of Covid-19. CEO Manju Malhotra told employees in an email, seen by The Sunday Times, that the pandemic would “change the shape” of the business, warning: “We envisage […]

As we hear of more countries throughout the world coming out of lockdown, retailers are faced with new challenges as they cope to resume operations in this “new normal”. Supermarkets, convenience stores and other retailers of daily necessities that remained open during the outbreak have […]

Ted Baker is reportedly planning to cut 500 jobs across its retail operations and HQ as it looks to mitigate the financial impact of Covid-19. Staff have been informed that at least 500 jobs would be lost as the company looks to save 6 million pounds by the end of the year, The Sunday Times reports. […]

Marks & Spencer is reportedly planning to cut hundreds of jobs this week as it looks to accelerate its restructuring. It is part of a wider plan to reduce the British retailer’s workforce by “several thousand”, Sky News reports. The company announced its ‘Never the same again’ restructuring strategy […]

INTERVIEW The Chinese clothing industry has been hit hard by the corona crisis – not only in terms of production, where China remains an important global player, the internal market, too, has also been impacted by store closures and curfews. How is the Chinese clothing industry doing today? Which developments […]

Boohoo shares increased 12 percent Thursday after its founders Mahmud Kamani and Carol Kane pumped 15 million pounds into the company. Kamani and Kane bought 10.7 million pounds and 4.3 million pounds worth of shares respectively on Thursday, helping to drive the share price up 12 percent to 235p. But […]

White Stuff is cutting 390 jobs across its head office and retail teams. The redundancies affect 100 head office employees and 290 employees working across its stores in the UK. It comes as part of a broader restructuring by the British fashion and lifestyle brand, which has now been completed - the […]

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