Selfridges seeks cash from co-owner after Signa files for insolvency
Selfridges has asked parent company Central Group for cash to pay its upcoming debt commitments as co-owner Signa filed for insolvency yesterday. Signa, the retail and property empire created by...
View ArticleSelfridges co-owner Central eyes Signa’s stake
Selfridges’ Thai co-owner Central Group is seeking to take greater control of the department store and could snap up fellow shareholder Signa’s stake following its collapse. Following Signa Prime...
View ArticleSelfridges co-owner targeted by tax authorities
Selfridges co-owner, Signa founder René Benko, could lose his personal assets villa over unpaid taxes. It comes as Signa Prime Selection, the firm that co-owns Selfridges, filed for insolvency last...
View ArticleWiggle’s unsecured creditors owed £26.7m
The unsecured creditors of online bike retailer Wiggle have been left £26.7m out of pocket following its collapse into administration last autumn. The retailer owes money to sports brands Asics, On...
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7 big trends that will shape retail in 2024
Cash-strapped shoppers, unpredictable weather and an avalanche of loyalty schemes dominated headlines last year and the New Year is set to bring another year of instability for the retail sector. An...
View ArticleGymshark slows rapid expansion plans despite surging sales
Gymshark posted its “biggest revenue number ever” in 2023 “underpinned by the relevance and quality of our product”, as EBITDA rose in line with sales growth. Sales grew 15% from 2022 to £556m which...
View ArticleM&S wins Marble Arch legal battle as Gove’s decision branded ‘unlawful’
The High Court has ruled that Michael Gove’s decision to block M&S’ redevelopment plans of its Marble Arch flagship branch was “unlawful”. M&S launched a planning appeal last month, following...
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First look: Gymshark debuts premium range at Selfridges in first wholesale...
Gymshark has officially opened a permanent space in Selfridges London which sees the luxury retailer become the activewear giant’s first-ever wholesale partner. The partnership follows the success of...
View ArticleOxford Street is the single biggest contributor to the West End, new report...
The Oxford Street: 2030 report has shown that the famous shopping strip is the largest single component of the West End, both in terms of scale of offer and share of spend and visits – making it the...
View ArticleSelfridges: Gucci owner Kering and Saudi Arabia PIF eye stake
Selfridges has attracted interest from Saudi Arabia and Kering, the parent company of Gucci, as the financial troubles of the department store’s co-owner spark an ownership battle. Both Saudi Arabia’s...
View ArticleSelfridges loses second finance boss in four months
Selfridges has lost its second finance chief in four months amid growing uncertainty over the luxury department store’s future ownership. Preetha McCann is understood to have quit as the retailer’s...
View ArticleSelfridges targeted by Middle East and Chinese investors amid ownership battle
Selfridges is being circled by Middle East and Chinese investors as the financial troubles of the department store’s Austrian co-owner Signa spark an ownership battle. Fellow co-owner, Thai...
View ArticleTala teams up with Selfridges for its bricks-and-mortar debut
Online athleisure brand Tala is teaming up with Selfridges to take its first step into the physical world with shop-in-shops across its department stores. Shoppers will be able to purchase the brand...
View ArticleSelfridges cuts jobs and blames loss of tax-free shopping
Selfridges is to make job cuts due to the loss of tax-free shopping and reduced luxury spending. The department store’s CEO Andrew Keith claimed the new set of redundancies had been caused by the...
View ArticleTourists ditch UK for Europe’s tax-free shops
Thousands of foreign tourists who previously travelled to the UK for tax-free shopping have switched to Milan and Paris following the loss of the scheme. While research showed 162,000 tourists from...
View ArticleHeathrow warns loss of tax-free shopping is ‘curtailing UK’s global...
Heathrow Airport has warned the loss of tax-free shopping is hurting Britain’s status as a global transport hub. The airport, which saw passenger numbers rise 4.8% last month, claimed the measure was...
View ArticleFamily behind Primark retain top 10 spot in Sunday Times rich list
The billionaire family behind Primark and Fortnum & Mason have retained their spot as one of the richest names in UK retail despite offloading some of their top assets. Guy, George, Alannah and...
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In pictures: Selfridges reopens renovated Beauty Hall at London flagship
Selfridges has reopened the Beauty Hall at its London flagship after a multi-million pound renovation. The luxury department store’s revamped department took 12 months to complete and now houses 300...
View ArticleSelfridges launches Harry Styles’ Pleasing pop-up for summer
Selfridges has launched a Harry Styles Pleasing pop-up in-store, following a successful residency at the department store’s Corner Shop last year. The brand’s first summer ready-to-wear collection,...
View ArticleM&S Oxford Street store redevelopment faces election delay
M&S will have to wait for a decision on its London flagship demolition plans following a fresh delay triggered by the General Election. The high street giant wants to demolish and rebuild its...
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