In a shock move, the reborn BHS website is to close, despite reports of soaring sales. The brand is owned by the Qatar-based Al Mana Group which will now focus resources on its franchised international store business.
Department store numbers have plummeted in England over the last decade. And it looks like they'll continue to fall as House of Fraser prepares to shut a number of stores and as Debenhams also plans closures.
CVAs are ‘the new black’ in the UK this year but it seems that while House of Fraser is-on trend in this respect, it might struggle to get its CVA through as landlords prove uniquely resistant to its plans.
The new owner of Belstaff has been named Britain’s richest man in the latest Sunday Times Rich List. Self-made businessman Jim Ratcliffe is chairman/CEO of chemicals company Ineos, which acquired Belstaff last autumn.