E-tail took another socially positive step forward Thursday to improve its somewhat tarnished image with eBay announcing it’s planning to invest millions of pounds in creating jobs and opportunities in the UK.
Manchester-based Boohoo Group is seeking to expand its office presence in London following recent acquisitions of the online business of London-based Debenhams and Arcadia labels Dorothy Perkins, Wallis and Burton.
Frasers Group took advantage of a rising share price last week to sell its entire stake in struggling French Connection. The company had a stake adding up to a 24.93% holding in the firm prior to the sale.
As Boohoo expands by acquisition and battles its way back from supplier scandals, the company has told its UK suppliers that they need to bring all of the work they do for it in-house by early next month.
Boohoo has concluded a deal to buy the remaining Arcadia brands that hadn’t been take over by ASOS and City Chic. It’s paying £25.2m to acquire the three “British heritage brands” out of administration.
Pressure is building on the UK government to introduce an online sales tax in response to a major imbalance in trading conditions that has seen digital retail boom during a pandemic that has devastated physical stores.
The sale of four Arcadia brands to ASOS on Monday was no surprise. But what was a surprise was that no mention whatsoever was made of the future of store jobs at the Topshop, Topman, Miss Selfridge and HIIT businesses.