Thorntons revenues up 1.8% as profits rise for full year Wednesday, 11th September 2013
Revenues at the UK chocolate company were up 1.8 per cent to £221.1 million for the full year, as Thorntons managed to reduce its debt and improve its profit and sales. After a rocky few years for the group, Thorntons’ full year results for the 52 weeks to 29 June suggest its turnaround is well underway.
M&S announces closure of four Irish stores Wednesday, 7th August 2013
Marks & Spencer on Wednesday announced it would close four of its stores in the Republic of Ireland, a move which will see the loss of 180 jobs at the retailer. In a statement, the department store group said the stores would close “within the coming weeks resulting in 180 redundancies”.
Jones Group announces US store closures Thursday, 25th April 2013
The Jones Group Inc., parent company to Nine West, Kurt Geiger and Jones New York, has announced it will close around 170 of its underperforming US stores by mid-2014. The company will also cut its workforce by 8 per cent as part of the measures announced on Wednesday, which Jones Group Inc said would cost around USD 40 million to USD 60 million over the next 15 months as it looks to turnaround its profits.
HMV administrators announce closure of another 37 stores Thursday, 21st February 2013
HMV administrators have announced the closure of another 37 stores stores, resulting in an additional 464 staff members being made redundant. The announcement given on Wednesday stated that the descision was made after an evaluation of the HMV portofolio. According to HMV adminsitrators Deloitte, this was a necessary step towards a securement of the company’s future, as their debts now are estimated to be around £170 million.
HMV administrators to close up to 100 stores Monday, 4th February 2013
Administrators at HMV are set to announce plans to close between 60 and 100 HMV stores this week, after cutting 190 jobs at the retailer’s head office last week. According to the Telegraph, Deloitte is preparing the “next stage of restructuring” for the retailer, which could result in the loss of up to 1,500 jobs.
Stead & Simpson to close 90 stores Monday, 10th December 2012
Shoe retailer Stead & Simpson will close 90 stores across the UK following a review of the high street business. Parent company Shoe Zone announced over the weekend that it had been forced to shut unprofitable branches of Stead & Simpson in order to protect the future of the business. Naomi Shefford, marketing and property director at Shoe Zone, said: “We have undertaken a thorough review of the Stead & Simpson business over the last few months which has culminated in the winding up of Tyler Ltd, the company that Stead & Simpson stores trade under.
Comet administrators confirm impending closure of 125 more stores Wednesday, 28th November 2012
Comet administrators Deloitte on Wednesday confirmed 125 more stores would close if they cannot find a buyer for the troubled electricals business. Around 70 of Comet’s 263 stores will remain open until the chain’s remaining stock is sold, with closures taking place over several weeks from December onwards.
Allders’ administrators to close historic store Monday, 10th September 2012
Time's up for Allders as administrators announce store closure Established in 1862, independent department store Allders will close its doors for the final time on 22 September, as administrators confirmed that have been unable to find a buyer. After a long battle for the store’s survival, administrators...
Peacocks may close 200 stores Thursday, 8th December 2011
Discount retail group Peacocks is considering the closure of up to 200 shops to safeguard the company’s future. The closures would strike around one in five of Peacock’s stores, and are being discussed as part of a broad restructuring plan aimed at safeguarding the company’s future, according to Sky’s Mark Kleinman.
Survival of the fittest? Profit warnings spark fears for 2012’s high street Wednesday, 26th October 2011
Another spate of store closures are already darkening the horizon for 2012, although analysts are suggesting it might be time to shed the weaker stores to make way for the stronger. According to a report by the Financial Times, the “demise of the weakest chains could help those rivals that can tough it out”.
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