US luxury department store chain, Barneys New York, has filled for bankruptcy and puts itself on sale. The firm has been the victim of high rent prices and unsuccessful attempts to find a buyer. They have filed for Chapter 11 bankruptcy. Barneys has secured $75m of new financing from Hilco Global and the Gordon Brothers…
UK retailers have recorded the worst month for sales in July since records began. Total sales increased by 0.3% in July compared to 1.6% in July last year. July saw record temperatures which would normally expect bigger sales of items that are summer clothes but the demand was not as big as normal. Helen Dickinson, chief…
Online fashion brand Boohoo have made an offer to buy the digital businesses and brands of Coast and Karen Millen. This raises fear for jobs in the brands high street stores. Together Coast and Karen Millen employ around 1,100 people with 32 stores and 177 concessions across the UK. The Karen Millen company lost £5.7m…
Mike Ashley’s Sports Direct business has bought Jack Wills for £12.75 million after the fashion chain went into administration on Monday. The high street retailer has taken over all of Jack Wills’ stock, the distribution centre and 100 stores plus employees across the UK and Republic of Ireland. Sports Direct admitted that it regretted trying…
Tesco has announced that around 4,500 staff in 153 Tesco Metro stores are set to lose their jobs. The supermarket said they are making changes to the way the stores operate to “serve shoppers better”. Tesco boss Jason Tarry said the firm did not take the redundancy decision lightly. The company said the metro store…
McDonald’s paper straws have been found to not be recyclable. Last year that fast food company stopped using plastic straws even though they were recyclable to be a part of a green drive. McDonald’s have admitted that the new paper straws are not easy to recyclable and should be placed in general waste. The company…
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