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Articles about closure
Jones Group announces US store closures Thursday, 25th April 2013
Photo credit: Kurt Geiger
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.
Posted in Accessories News, fashion, Retail Industry Tagged kurt, geiger, jones, group, accessories, store, closure, retail, nine, west, us
HMV administrators announce closure of another 37 stores Thursday, 21st February 2013
Photo Credit: My-Retail Media
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.
Posted in Music, Retail Industry, Technology Tagged HMV, administration, stores, deloitte, jobs, unemployment, closure
HMV administrators to close up to 100 stores Monday, 4th February 2013
Photo credit: My Retail Media
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.
Posted in Deals and Takeovers, Electricals, Entertainment, Retail Industry, Technology, Toys Tagged hmv, electrical, music, store, deloitte, administration, employee, twitter, redundancy, closure
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.
Posted in Accessories News, Deals and Takeovers, Footwear, Retail Industry Tagged stead & simpson, stead, simpson, footwear, high street, retailer, shoe zone, closure, jobs, shut, close
Comet administrators confirm impending closure of 125 more stores Wednesday, 28th November 2012
Photo credit: Comet
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.
Posted in Deals and Takeovers, Electricals Tagged comet, closure, store, deloitte, chris farrington, announce, confirm, deal, offer, buy
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...
Posted in Deals and Takeovers, Department Stores, Retail Industry Tagged allders, department, store, administration, duff & phelps, business, announce, closure, croydon
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.
Posted in Deals and Takeovers, fashion, Retail Property Tagged peacocks, bonmarche, goldman sachs, deals, rumours, womenswear, fashion, store, closure, 200, shut
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”.
Posted in Electricals Tagged hmv, high street, retail, rent, closure, mothercare, thorntons, ubs, adam cochrane, peter smedley
Gieves & Hawkes sells Saville Row flagship store for £8.5m Monday, 19th September 2011
The Saville Row menswear retailer has sold its freehold on 1 Saville Row for £8.5 million to a group controlled by parent company Wing Tai properties. The news comes after Gieves & Hawkes was forced to close eight of its concessions, seven on which were in House of Fraser. The retailer now operates just four concessions in Selfridges and Harvey Nichols as well as ten stores.
Posted in Department Stores, fashion Tagged house of fraser, gieve & hawkes, gieves and hawkes, department store, closure, concession, saville row, close, sell, wing tai, property, properties, loss, harvey nichols, selfridges
Campaign begins to save Notting Hill’s Travel Bookshop Wednesday, 24th August 2011
Known the world over as the bookshop that inspired Julia Roberts’ and Hugh Grant’s London love affair, The Travel Bookshop in Notting Hill now faces closure after over thirty years of business.
Founded in 1979, Simon Gaul put the bookshop on the market after his elder children indicated they would not follow him into the business. As one of the capital’s most recognisable book shops, its unsurprising the proposed closure has sparked a Twitter campaign to save the bookshop from being sold to new developers.
A group led by Olivia Cole, the 30 year old poet and literary editor of GQ magazine, have suggested a shop run by volunteer staff could become a better cultural draw card for tourists and visitors who appreciate its ‘specialist tradition’.
Posted in Books and Magazines Tagged book, campaign, close, closure, culture, gq magazin, hugh grant, julia roberts, nottinghill, olivia cole, sale, simon gaul, Store, the travel bookshop, tourist, twitter
