
The billionaire controlling shareholder of fashion retail giant Arcadia has called for an end to the war of words with an MP that has led to ongoing negative press around the business for the past 18 months.
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The billionaire controlling shareholder of fashion retail giant Arcadia has called for an end to the war of words with an MP that has led to ongoing negative press around the business for the past 18 months.
Stories around Sir Philip Green’s intentions for the Arcadia Group stores that he controls continue to surface but one thing is clear - we won’t know the truth of what’s happening until Arcadia decides to tell us.
Speculation that Shandong Ruyi was in talks to buy the UK’s Arcadia Group may have been denied by both parties but it has certainly focused attention on the Chinese firm’s global ambitions in the fashion sector.
After news that it will buy Bally, Shandong Ruyi was rumoured to be on the verge of making an even bigger splash in the fashion sector with an Arcadia buy, but it has flatly denied the story.
Topshop won’t be showing at London Fashion Week this month with the directional fast fashion retailer absent for the first time since it made its LFW debut in 2005.
Tesco, Britain’s biggest retailer, said Booker boss Charles Wilson would stay on and run its entire UK business once it completes the 3.7 billion pounds ($5.2 billion) takeover of the wholesaler.
House of Fraser has hired Simon Pickering for the newly expanded role of Buying and Merchandising Director, overseeing the department store’s apparel and accessories collections.
Unsecured BHS creditors, who were owed almost £1bn following the collapse of the British department store in 2016, have received a £36m interim payout, according to reports.
Hundreds of Topshop and Topman stores could see imminent staff cuts as the Arcadia-owned chain becomes the latest UK retailer seeking to rationalise its stores in the face of lower footfall and the migration to e-tail.
River Island has announced that Philip Cooke will be joining the business as managing director of menswear and kidswear this Spring. Cooke was most recently managing director at Topman.