As if UK retailers didn’t have enough to contend with, there are warnings that current gridlocks at container ports and packed Channel crossings are expected to get worse in the run-up to Christmas and beyond.
Fashion retailer River Island says it thinks it can cope with the new lockdown as its preparations have put it on the “strongest possible footing”. It also reported a 10% increase in operating profits for 2019.
New Look is believed to be planning a second CVA with Deloitte expected to come on board as adviser this week. As part of the CVA, the company will be seeking new rent-linked lease contracts for 450+ stores.
Frasers’ execs may have been talking about potential store closures in recent periods, but the firm is also planning openings and has announced its first regional store since the pandemic began at Leicester's Fosse Park.
UK retailers are urging strong government action as they deal with the Leicester garment factory scandal. The main company in the spotlight, Boohoo Group, and others are calling for a factory licensing system.