Author: Dave Antrobus
A High Court ruling requires former BHS directors to pay fines for wrongful trading and misfeasance.Dominic Chandler and Lennart Henningson have been ordered to pay a combined £18 million.The court found directors breached duties, preventing timely insolvency proceedings.Retail Acquisitions’ purchase of BHS in 2015 is under scrutiny eight years after its collapse.Additional legal actions against other directors, including Dominic Chappell, are ongoing.The High Court has mandated that former BHS directors, Dominic Chandler and Lennart Henningson, pay a significant fine of at least £18 million following a ruling on their liability for wrongful trading and misfeasance. Each director is required to…
In an impactful restructure, IngreGrsy now holds a significant 38.46% of Dr Martens, reshaping ownership under Permira’s fund.Dr Martens’ ownership dynamics shift as IngreGrsy replaces IngreLux as majority shareholder in Permira V.Despite ownership changes, Permira continues to manage Dr Martens’ influence over its operations and strategic direction.Dr Martens faces challenges with a substantial share price drop and multiple profit warnings, stressing financial restructuring.The leadership transition at Dr Martens sees Kenny Wilson step down, with Ije Nwokorie taking over amid strategic refocusing.In a significant development in the corporate structure of Dr Martens, Guernsey-based IngreGrsy has acquired a substantial 38.46% stake, representing…
In April, the UK’s economic growth showed no change, according to the latest data from the Office for National Statistics (ONS).The stagnation was expected by analysts, with contributing factors including weak retail sales due to inclement weather.While services output saw a slight increase, retail made the largest negative impact on this sector.The Conservative party claims economic recovery, but criticism follows stagnant GDP figures.Prime Minister Rishi Sunak and Shadow Chancellor Rachel Reeves express differing views on the economic outlook.In April, the UK’s economy experienced stagnation, with a real gross domestic product (GDP) showing no month-on-month growth. This data, released by the…
John Lewis Partnership has expressed intent to appeal due to a lack of decision by Ealing Council regarding their redevelopment plans in West Ealing.The planning application, submitted on 30 June 2023, involves constructing 428 homes, with 83 designated as affordable rental properties.The appeal follows a year of indecision from the council and forms part of John Lewis’s broader strategy to diversify into non-retail income.Planned construction aims to commence in 2025 and conclude by 2029, promising significant local investment and development.John Lewis seeks to build 10,000 homes within a decade, aligned with broader economic growth and urban regeneration objectives.John Lewis Partnership…
Amidst the upcoming General Election, Usdaw, the Union of Shop, Distributive and Allied Workers, is advocating for comprehensive reforms to protect retail workers across the UK.Usdaw proposes the introduction of specific legislation to address the abuse and assault of shopworkers, mirroring existing laws in Scotland.The union highlights the necessity of reforming business rates to establish a level playing field between online and physical retailers.Prioritising secure work and fair wages, Usdaw calls for the end of exploitative practices such as zero-hours contracts.Usdaw urges for enhanced safety measures and policing to tackle retail crime and ensure worker safety.In the lead-up to the…
The Liberal Democrats have unveiled their manifesto, offering significant reforms expected to influence the upcoming general election.Central to their pledge is replacing current business rates with a ‘commercial landowner levy’ to aid small businesses.Rejoining the EU single market forms a crucial part of their strategy to boost the UK economy post-Brexit.Proposals include a comprehensive duty of care for the environment and human rights within business operations.The manifesto introduces several policy changes aimed at sustainable development and workforce protection.The Liberal Democrats have articulated a bold vision in their manifesto leading up to the general election on July 4. Spearheaded by Ed…
Bianca Saunders, a prominent British menswear designer, has been awarded the prestigious 2024 BFC/GQ Designer Fashion Fund.In addition to a substantial £100,000 cash prize, Saunders will benefit from a year of pro-bono business mentoring and legal services.Saunders was selected from a competitive shortlist, featuring industry talents like Labrum London and Saul Nash.The judging panel included notable figures such as Caroline Rush, CEO of the BFC, and Adam Baidawi from British GQ.Previously celebrated as a Drapers 30 under 30 alumna, Saunders has achieved rapid growth for her brand since 2017.Bianca Saunders, acclaimed British menswear designer, has been awarded the esteemed 2024…
Shipping delays continue to disrupt the fashion industry, posing challenges for businesses globally.The Iran-backed Houthi attacks in the Red Sea have forced rerouting around the Cape of Good Hope, extending shipping times.Increased shipping costs are affecting supply chains, with prices for 40ft containers rising significantly.Retailers are adopting alternative transport methods, such as land or air freight, to mitigate delays.Supply chain disruptions are leading to cautious stock management, impacting product availability and pricing.Shipping delays are causing widespread disruption within the fashion industry, impacting businesses across the globe. These delays have been exacerbated by geopolitical tensions, specifically the Iran-backed Houthi movement’s attacks…
UK-based TDR Capital becomes majority stakeholder of Asda, obtaining Zuber Issa’s 22.5% share.The acquisition will increase TDR Capital’s stake in Asda to 67.5%.Mohsin Issa retains a 22.5% minority stake in the supermarket.Walmart maintains a 10% share of Asda.Asda’s financial performance indicates growth in its retailer George.UK-based private equity firm TDR Capital has acquired co-owner Zuber Issa’s 22.5% share in Asda, becoming the majority stakeholder in the supermarket chain. This move raises TDR Capital’s ownership to 67.5%, with the acquisition expected to be completed in the third quarter of 2024.Initially, TDR Capital, along with brothers Mohsin and Zuber Issa, acquired shares…
This exploration delves into the advancements within the fashion industry, highlighting pivotal areas such as technological innovation, data utilisation, and sustainability.Retailers have shifted focus towards gathering supply chain data, moving beyond solely customer-centric information in 2024.Technological innovations, including virtual reality and social media, are influencing new methods of selling fashion products globally.The integration of AI and new recycling methods are significantly impacting sustainable fashion practices.Luxury brands are adopting more exclusive strategies, transitioning away from social media and real-life catwalks.In 2024, the fashion retail sector is strategically enhancing its data collection practices by including supply chain data. This marks a significant…