
There’s speculation that there could be more store closures ahead for Frasers Group as the giant retail operation has announced a major impairment charge against its stores as a result of lockdowns.
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There’s speculation that there could be more store closures ahead for Frasers Group as the giant retail operation has announced a major impairment charge against its stores as a result of lockdowns.
London-based lingerie company Playful Promises has sold a stake to private equity company Bestport as it seeks to add to its fast growth in recent periods and expand further at home and abroad.
Frasers Group saw lower sales in its first half, as would be expected given that most of its stores were closed for part of the period. But the fall was relatively small and the company’s profits rose.
The Hut Group said Monday that sales were “ahead of expectations across all divisions” for October and November and it also announced a new deal with Jack Wills to power the clothing brand’s e-tail site.
Mike Ashley's Frasers Group confirmed on Monday that it’s interested in buying Debenhams even though the auction for the Department store chain has already ended and the chain is expected to close completely by March.
As Frasers Group continues to pivot more towards the upper end of the market, it has more than doubled its stake in luxury leather goods maker Mulberry.
Frasers was hurt by lockdowns at the end of its latest financial year but said its results had been on target prior to this. And the company's elevation strategy is continuing with a new focus on web elevation too.
Frasers Group has reportedly thrown down the gauntlet to its landlords and said that it won't pay its rent bills until it’s “fully able to freely trade as a business” again.
Springfields Outlet and Leisure in Lincolnshire has said that while footfall and overall spend remain lower year-on-year, average transactional spend is up in double-digits and many reopened stores are booming.
Frasers finance chief Chris Wootton has urged the government to do more to support high street retailers following the Covid-19 outbreak, warning that many businesses risk going out of business.