Coast became the latest casualty of the tough UK fashion environment on Thursday with an administration filing, although large parts of the business were quickly bought out of administration by Karen Millen.
Operating losses have widened at the company despite ongoing efforts to reduce costs and close loss-making stores, with the retailer blaming the ‘Beast from the East’ weather front for its declining performance.
A major credit insurer has cut the cover it will give for Arcadia suppliers with Euler Hermes reportedly writing to clients in the past fortnight as the fashion sector sees a wave of credit insurance cuts.
River Island is to relocate and upsize its presence at The Grafton in Cambridge after committing to opening a full-sized anchor store. Meanwhile, Debenhams is refurbishing its store to introduce a new beauty hall.