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.
Struggling Debenhams faces a fresh challenge with credit insurers tightening up the terms for its suppliers, suggesting a lack of confidence in its turnaround. But the company has denied it’s facing a cash crunch.
New Look has decided not to move its headquarters to a new development in Kings Cross. The news come amid a troubled time for the British fashion retailer, following the end of its insolvency cover earlier this week.