The owners of fashion businesses like River Island, The Edinburgh Woollen Mill Group, Arcadia, Charles Tyrwhitt, New Look and Monsoon Accessorize have all seen their estimated personal wealth fall over the past year.
Alice Hall, co-founder of online fashion retailer Pink Boutique, has left the business to focus on a separate venture. Co-founder Julie Blackie remains as managing director alongside new CEO David Quinn.
Fenwick has been struggling for some time and with its shops now closed and it's still-young online operation also not functioning, the family that owns the retailer has ousted its chairman and managing director.
There is nothing like a centenary to focus attention on a brand, especially one on the mend, like Fogal, considered by many as the nec plus ultra of legwear. A brand poised for a notable renaissance, post-coronavirus.
As the number of confirmed coronavirus cases continues to increase across the UK, luxury department stores including Fenwick, Harrods and Harvey Nichols have announced temporary closures and reduced trading hours.
UK department store chain Fenwick is planning to convert 10% of its Bond Street floorspace into offices for rent in a bid to cut costs and create new revenue. Around 3,500 sq ft of floorspace will go, a news report said.