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....50 a share for Kate Spade in a bid to create a multi-brand fashion house. Both firms are grappling with sliding sales at US department stores where their products have traditionally been sold. ... [Read full article on BBC ]
Monday 8th of May 2017 01:32:13 PM
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Sunday 7th of May 2017 12:20:36 PM
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. Retail Acquisitions, the former owner of the collapsed BHS, is on the point of liquidation, potentially helping investigations into the demise of the department store chain. ... [Read full article on Guardian ]
Thursday 4th of May 2017 12:17:13 PM
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. Weaker-than-expected sales at several US department store chains reignited concerns about the US retail sector and prompted investors to offload shares. ... [Read full article on BBC ]
Thursday 11th of May 2017 04:39:56 PM
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....US retail sales rose by 4. 5% in April compared with the same month last year, but department store chains continue to struggle. ... [Read full article on BBC ]
Friday 12th of May 2017 05:29:48 PM
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. Dominic Chappell, the former owner of BHS, could be pursued for millions of pounds owed to Philip Green’s business empire as well as to creditors of the now collapsed department store. ... [Read full article on Guardian ]
Tuesday 16th of May 2017 07:23:59 PM
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....They are not exactly household names, unless you spend your weekends in the shed or fiddling with your surround-sound speakers, but an influential shopper survey has named Toolstation and Richer Sounds as the UK’s most highly-rated shops. The two retailers were ranked joint first, ahead of customer service luminaries Apple and department store chain John Lewis, in the poll of 10,000 shoppers by consumer group Which?. ... [Read full article on Guardian ]
Saturday 13th of May 2017 07:01:40 AM
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....3%. However, department store sales were down by 0. ... [Read full article on Guardian ]
Thursday 18th of May 2017 10:39:36 AM
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....John Lewis profits have been dented by £36m after a payroll error that breached minimum wage rules. The retailer, which owns Waitrose supermarkets as well as its namesake chain of department stores, said it was working with HMRC to examine its practice of pay averaging, which aims to smooth out monthly pay over the year. ... [Read full article on Guardian ]
Tuesday 9th of May 2017 10:54:26 AM
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. Wall Street closed lower on Thursday, pulled down by lower-than-expected sales at major US department stores and a selloff in Snap. ... [Read full article on BBC ]
Thursday 11th of May 2017 08:47:45 PM
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....8bn. BHS, the department store chain formerly owned by Green, plunged into administration just more than a year ago, affecting 11,000 jobs and around 19,000 pension holders. ... [Read full article on Guardian ]
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Latest Finance News related to Department Store

Ex-BHS owner Dominic Chappell could be pursued by Sir Philip Green for millions image
. Dominic Chappell, the former owner of BHS, could be pursued for millions of pounds owed to Philip Green’s business empire as well as to creditors of the now collapsed department store. ...
Which? names Richer Sounds and Toolstation as UK's best-rated shops image
Source : Guardian [Read Article] Saturday 13th of May 2017 07:01:40 AM
....They are not exactly household names, unless you spend your weekends in the shed or fiddling with your surround-sound speakers, but an influential shopper survey has named Toolstation and Richer Sounds as the UK’s most highly-rated shops. The two retailers were ranked joint first, ahead of customer service luminaries Apple and department store chain John Lewis, in the poll of 10,000 shoppers by consumer group Which?. ...
Just do it: the experience economy and how we turned our backs on ‘stuff’ image
.... Spending in restaurants went up 16%, while theatres and cinemas enjoyed a 13% rise. Meanwhile, department stores suffered a 1% drop, vehicle sales were down 11% and spending on household appliances fell by 2. ...
US retail sales rise as stores struggle image
Source : BBC [Read Article] Friday 12th of May 2017 05:29:48 PM
....US retail sales rose by 4. 5% in April compared with the same month last year, but department store chains continue to struggle. ...
Snap plunges as Wall Street loses ground image
Source : BBC [Read Article] Thursday 11th of May 2017 08:47:45 PM
. Wall Street closed lower on Thursday, pulled down by lower-than-expected sales at major US department stores and a selloff in Snap. ...
Sliding sales stoke fears for US department stores image
Source : BBC [Read Article] Thursday 11th of May 2017 04:39:56 PM
. Weaker-than-expected sales at several US department store chains reignited concerns about the US retail sector and prompted investors to offload shares. ...
John Lewis profits suffer £36m dent from minimum wage error image
Source : Guardian [Read Article] Tuesday 9th of May 2017 10:54:26 AM
....John Lewis profits have been dented by £36m after a payroll error that breached minimum wage rules. The retailer, which owns Waitrose supermarkets as well as its namesake chain of department stores, said it was working with HMRC to examine its practice of pay averaging, which aims to smooth out monthly pay over the year. ...
Coach bags New York rival Kate Spade for $2.4bn image
Source : BBC [Read Article] Monday 8th of May 2017 01:32:13 PM
....50 a share for Kate Spade in a bid to create a multi-brand fashion house. Both firms are grappling with sliding sales at US department stores where their products have traditionally been sold. ...
Retail Acquisitions, which bought BHS for £1, heads for liquidation image
Source : Guardian [Read Article] Thursday 4th of May 2017 12:17:13 PM
. Retail Acquisitions, the former owner of the collapsed BHS, is on the point of liquidation, potentially helping investigations into the demise of the department store chain. ...
Sir Philip Green and wife took £433m hit last year, says rich list image
....8bn. BHS, the department store chain formerly owned by Green, plunged into administration just more than a year ago, affecting 11,000 jobs and around 19,000 pension holders. ...
Sir Philip Green could still lose knighthood, says MP image
Source : Guardian [Read Article] Sunday 23rd of April 2017 03:54:50 PM
.... The case against Sir Philip will continue in the new parliament,” said Field. The comments come almost a year to the day since the department store chain plunged into administration, affecting 11,000 jobs and around 19,000 pension holders. ...
When an M&S closes, you lose more than a store | Barbara Ellen image
Source : Guardian [Read Article] Saturday 22nd of April 2017 11:05:27 PM
.... Then there are the physical and visual elements. The sites set to close are “full-line” department stores, of the kind that dominate the hearts of towns. ...
BHS crash sets trend for a chain of closures on UK high streets image
Source : Guardian [Read Article] Saturday 22nd of April 2017 03:00:17 PM
.... The Pensions Regulator is pursuing legal action against Chappell and his company, Retail Acquisitions Ltd (RAL), for £71m it wants them to stump up for BHS pensioners. RAL had received payments of up to £25m from BHS despite owning the department store chain for just 13 months until it collapsed. ...
Green Investment Bank sell-off: only time will tell how green it is | Nils Pratley image
....It is hard to point to any feature of the plan that is genuinely novel. Cafes and restaurants in the shops? Most department stores offer them these days, and the high streets outside are awash with Costas. ...
M&S to close six stores as it tries to 'stay in tune' with shoppers image
Source : Guardian [Read Article] Thursday 20th of April 2017 11:27:13 AM
....Marks & Spencer has announced plans to close six stores, affecting 380 jobs, but the retailer has pledged to find staff alternative posts in nearby outlets. The announcement comes after Debenhams, Britain’s second-largest department store chain, warned that several hundred jobs are at risk as part of a shakeup that will close up to 10 shops and 11 warehouses. ...
Debenhams jobs at risk as stores close in 'social shopping' shakeup image
Source : Guardian [Read Article] Thursday 20th of April 2017 09:18:15 AM
. The new chief executive of Debenhams is to give the department store chain an expensive makeover after admitting some shops looked tired and old and customers had to go on a “treasure hunt” to find what they wanted. ...
Debenhams unveils turnaround strategy image
Source : BBC [Read Article] Thursday 20th of April 2017 07:21:02 AM
.... . The department store chain announced earlier this year that it had begun consulting on the closure of one central distribution centre in Northamptonshire which employs about 200 people. ...
Did you lose your job when BHS went into administration? image
Source : Guardian [Read Article] Tuesday 18th of April 2017 04:44:09 PM
. The controversial collapse of the BHS department store chain last April, led to the loss of 11,000 jobs and left a pension deficit assessed at £571m. ...
Next boss misses out on annual bonus for first time in 18 years image
Source : Guardian [Read Article] Tuesday 18th of April 2017 04:15:22 PM
....House of Fraser finance director Colin Elliot said on Tuesday he was also cautious and expecting “another challenging year” in 2017 amid uncertainty over the UK’s relationship with Europe and the snap general election announced on Tuesday. He said the department store chain would be updating its shops and adding in more restaurants and cafes as it tried to use its high street space differently in the face of a tough clothing market. ...
Two-thirds of BHS stores lie empty as anniversary of collapse nears image
Source : Guardian [Read Article] Sunday 16th of April 2017 03:30:44 PM
. A year after the collapse of the department store chain BHS, more than two-thirds of its former stores still lie empty, blighting the UK’s high streets and shopping centres. ...
Can end of unhappy marriage with L'Oréal breathe new life into Body Shop? image
.... Meanwhile, many mainstream brands have followed Roddick’s lead, using more natural ingredients and no longer testing on animals. The Body Shop’s chain of stores is also up against rivals such as Space NK and greater competition from clothing chains and department stores that have increased their beauty ranges to offset falling clothing sales. ...
Selfridges helps shoppers unwind with potato peeling class image
Source : Guardian [Read Article] Thursday 6th of April 2017 05:29:23 PM
....But this group is not learning a new language, setting up a book club or planning a business venture. They are attending a workshop – taking place in the basement of Selfridges, one of London’s swankiest department stores – to learn how to peel potatoes. ...
Advertising fail image
Source : BBC [Read Article] Thursday 6th of April 2017 01:57:06 PM
....Thankfully we've since moved on to pictures of diseased organs to put people off smoking instead. There wasn't any cheering when the US department store Bloomingdale's released its Christmas catalogue two years ago. ...
Why the sound of Ed Sheeran helps sell fries image
Source : Guardian [Read Article] Sunday 2nd of April 2017 04:00:05 PM
. It’s elevator music, 21st-century style: not Herb Alpert, piped tinnily into your local department store, but carefully curated playlists generated by algorithms and used by major restaurants, supermarkets and retailers all over the world to entice us to spend more cash. ...
Sports Direct increases Debenhams stake to 16% image
Source : BBC [Read Article] Sunday 2nd of April 2017 08:35:42 AM
. Mike Ashley's Sports Direct has raised its stake in High Street department store chain Debenhams. ...
New John Lewis boss warns of further job cuts and price rises image
Source : Guardian [Read Article] Thursday 30th of March 2017 05:11:10 PM
. The new boss of the John Lewis department store chain has warned of more job cuts this year and possible price rises as she said shoppers’ behaviour was changing “profoundly and fast”. ...
New John Lewis boss says department store needs reinventing image
Source : BBC [Read Article] Thursday 30th of March 2017 02:22:34 PM
. The new boss of John Lewis says the department store needs reinventing for a new generation of shoppers. ...
May's 'global Britain' gets boost as Qatar looks at £5bn investment image
Source : Guardian [Read Article] Monday 27th of March 2017 05:10:53 PM
....Theresa May’s ambitions to create a “global Britain” after Brexit have been boosted by Qatar’s announcement that it expects to invest £5bn in the UK over the next five years. On Monday, two days before the planned triggering of article 50, Qatari investors at a London conference suggested they were unperturbed by the prospect of Britain’s departure from the EU and were looking for further opportunities to build on already significant investments in the UK that include the Olympic Village in east London, the Shard building, Harrods department store and a stake in Sainsbury’s. ...
1,100 Jones Bootmaker jobs at risk as private equity deal collapses image
Source : Guardian [Read Article] Thursday 23rd of March 2017 07:39:45 PM
....Jones Bootmaker is expected to call in administrators on Friday in a move that will put more than 1,100 jobs at risk. The shoe retailer, which employs 1,145 people, has nearly 100 stores and a handful of concessions in department stores. ...
Next admits mistakes as profits fall for first time in eight years image
Source : Guardian [Read Article] Thursday 23rd of March 2017 08:58:32 AM
....In response to the tough high street trading conditions Next is seeking to make its stores more interesting places to shop. One experiment involves renting space in its largest store, in Manchester’s Arndale centre, to a range of concessionaires including a hair salon, a prosecco bar and a florist to create an experience like a department store. ...
K-Drama image
Source : BBC [Read Article] Tuesday 21st of March 2017 09:11:15 AM
.... . Mr Shin ceded control of the Lotte business empire, which spans hotels to department stores, after being ousted by his younger son in 2015. ...
Sir Philip Green 'could get £15m refund from £363m BHS payout' image
Source : Guardian [Read Article] Tuesday 21st of March 2017 06:30:06 AM
....Chappell has pledged to fight the legal action against him, saying the black hole in the BHS pension scheme was not his fault. Retail Acquisitions received payments of up to £25m from BHS despite owning the department store chain for just 13 months until it collapsed. ...
Gucci, Versace, D&G ... now top brands target fashion for kids image
Source : Guardian [Read Article] Sunday 19th of March 2017 12:05:01 AM
....While for some, designer labels are what matter, for others it’s brands with ethical credentials or those that manufacture in the UK. At upmarket London department store Liberty, Sarah Coonan, head of buying for the Little Liberty range, said: “When you’re buying for your cherished child or someone else’s, it doesn’t sit well if what you’re buying is not ethically sourced and organic: the majority of our customers ask questions about a garment’s provenance. ...
‘Corrupt firms can make troublemakers’ lives intolerable’ – our work expert responds image
.... . To top up his income he’s had a full-time permanent job as a junior manager at a well-known department store. ...
Jobs at risk as Jones Bootmaker teeters on brink of administration image
Source : Guardian [Read Article] Tuesday 14th of March 2017 08:09:59 PM
....Alteri bought Jones two years ago in a £12m deal which included the rival shoe retailer Brantano. Six months ago it appointed David Riddiford – a retail veteran who has had roles at Links of London and Ireland’s largest department store Arnotts – as executive chairman. ...
Why is John Lewis tightening its belt? image
Source : Guardian [Read Article] Friday 10th of March 2017 07:16:34 AM
How can my boyfriend find a paid job that makes use of his film degree? image
.... Since then he has tried to follow his ambition of being a freelance camera operator, but, in a sector where budgets are squeezed, he hasn’t been able to find regular work that will pay the bills. To top up his income, he has held down a full-time, permanent job as a junior manager at a well-known department store. ...
Tesco to pay out nearly £10m to staff after payroll errors image
Source : Guardian [Read Article] Thursday 9th of March 2017 10:56:20 AM
....Debenhams was among a list of 360 employers named and shamed by the government last month for underpaying staff. The department store chain topped the list of offenders after nearly 12,000 of the department store’s workers were short-changed. ...
John Lewis slashes staff bonus to 6% – the lowest in 63 years image
Source : Guardian [Read Article] Thursday 9th of March 2017 09:28:42 AM
....John Lewis has slashed its staff bonus to just 6% of salary, the lowest level since the 1950s, despite a 21% rise in pre-tax profits. The group, which includes department stores and the Waitrose supermarket chain, said the bonus was the equivalent of three weeks’ pay and had been cut to retain profits and strengthen its balance sheet. ...
John Lewis staff bonus cut again image
Source : BBC [Read Article] Thursday 9th of March 2017 09:27:42 AM
....The partnership said it held back more of its profits due to an "increasingly uncertain market this year". The group, which runs department stores and supermarkets, also warned of price pressures and intense competition. ...
John Lewis broke advertising rules by pulling Apple Watch deal image
Source : Guardian [Read Article] Wednesday 8th of March 2017 07:01:00 AM
....The company said that removing stock from sale was “not a decision we would take lightly” and that it had been done in good faith because Black Friday is the biggest retailing day of the year. The department store group reported its best ever weekly revenues of almost £200m last year thanks to Black Friday. ...
Patagonia and The North Face: saving the world – one puffer jacket at a time image
....While The North Face sells $5,500 (£4,480) two-metre tents and Patagonia sells $629 waders for fly fishing, many of the most popular products for both companies are everyday wear: waterproof anoraks, leggings, fleeces, and, most important of all, puffer jackets. “Everyone is trying to reinvent and reinterpret the black puffy jacket,” said Jeff Crook, the chief product officer at Mountain Equipment Co-Op, an outdoor department store that has 20 stores across Canada, “whether it spends most of its time on the mountain peak or at the bus stop. ...
Is China retaliating against Lotte missile deal? image
Source : BBC [Read Article] Monday 6th of March 2017 09:08:11 AM
.... . On Monday, Lotte said that more than 10 of its department stores across the country had been closed down suddenly. ...
John Lewis and Waitrose owner set to reduce staff bonus image
Source : Guardian [Read Article] Sunday 5th of March 2017 04:49:46 PM
....The cut in the bonus reflects the tough retail environment. The business, which covers department stores, supermarkets and online shopping, is expected to report a 10% fall in underlying annual profits for last year. ...
Bad news for online advertisers – you’ve been ’ad | John Naughton image
.... You paid a lot of money to put ads in newspapers and magazines or on television and billboards, but it was all hit and miss: you could never be sure what worked. As a US department store magnate, John Wanamaker, once said: “Half the money I spend on advertising is wasted; the trouble is, I don’t know which half. ...
Jimmy Choo revenues boosted by menswear range image
Source : BBC [Read Article] Thursday 2nd of March 2017 09:15:36 AM
.... . Revenue fell in the US as it repositions its business along with a fall in demand from department stores. ...
Dominic Chappell to fight legal action forcing him to pay BHS pensions image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:44:02 PM
....Green owned BHS for 15 years until he sold it to Chappell, a former bankrupt with no retail experience, for just £1 in March 2015. Retail Acquisitions (RAL) received payments of up to £25m from BHS despite owning the department store chain for just 13 months until it collapsed. ...
Philip Green agrees to pay £363m into BHS pension fund image
Source : Guardian [Read Article] Tuesday 28th of February 2017 02:42:06 PM
....Sir Philip Green has agreed to hand over £363m in cash to rescue the BHS pension scheme, and settle one of the biggest City rows of recent decades. The deal with the Pensions Regulator, which is likely to help the billionaire keep his knighthood, follows the controversial collapse of the BHS department store chain last April, which led to the loss of 11,000 jobs and left a pension deficit assessed at £571m. ...
John Lewis expects to cut nearly 800 jobs image
Source : Guardian [Read Article] Thursday 23rd of February 2017 03:45:38 PM
....John Lewis is to axe nearly 800 jobs in its customer restaurants and store administration in its biggest ever round of redundancies. The department store chain said it was consulting 773 people about redundancy as it attempts to cut costs and become more efficient. ...
Brexit vote begins to bite as rising food and fuel bills hit retail sales image
Source : Guardian [Read Article] Friday 17th of February 2017 12:51:52 PM
....There has been a silver lining to the pound’s fall, with the latest tourism figures from the ONS on Friday suggesting sterling’s devaluation has helped lure overseas tourists to the UK. A weak pound means their holiday spending money stretches further and hotels and department stores have already reported a boost from tourists. ...
Argos to pay £2.4m to 37,000 workers paid less than minimum wage image
Source : Guardian [Read Article] Thursday 16th of February 2017 03:26:07 PM
....The number of workers underpaid by Argos is well in excess of those shortchanged by Debenhams, which on Wednesday became the most prolific offender to be “named and shamed” by the government under a system that came into force in 2013. The department store chain was fined £63,000 and forced to pay back nearly £135,000 to 12,000 workers. ...
Lingerie brand Agent Provocateur could be heading for administration image
Source : Guardian [Read Article] Wednesday 15th of February 2017 07:32:35 PM
.... Advisers were looking for sums in excess of the £30m Agent Provocateur owes to its lenders. Sources close to the negotiations said Agent Provocateur was a strong brand, but had over-expanded into department store concessions and stores, and a pre-pack administration would enable a potential buyer to acquire the business without some of its liabilities. ...
Debenhams tops government's shame list for underpaying staff image
Source : Guardian [Read Article] Wednesday 15th of February 2017 07:14:42 PM
. The government has named and shamed a record 360 firms for underpaying their staff, with the list of offenders topped by Debenhams after nearly 12,000 of the department store’s workers were short-changed. ...
Luxury retailers hope Chinese new year tourists will leave them crowing image
Source : Guardian [Read Article] Saturday 28th of January 2017 08:00:49 AM
....At a nearby outlet centre, with discount designer goods from Matches, UGG, Anya Hindmarch and Pringle of Scotland, nearly every shop has a Mandarin-speaking assistant and some stores say that up to 70% of their shoppers are visiting from China. Harvey Nichols, the upmarket department store on the other side of London, said that it had Cantonese and Mandarin-speaking staff on hand at its tills to accept China Union Pay, a popular Chinese payment service. ...
UK GDP figures show solid end to 2016 despite Brexit vote image
Source : Guardian [Read Article] Thursday 26th of January 2017 03:13:11 PM
....A separate survey from the business lobby group CBI showed retail sales volumes fell unexpectedly in the year to January, but sales are expected to return to growth next month. Grocers suffered the sharpest drop in sales since August 2004, while clothing retailers and department stores continued to see solid growth. ...
Well-paid bosses should not get knighthoods – says Sir Philip Hampton image
Source : Guardian [Read Article] Tuesday 24th of January 2017 06:22:08 PM
....Honours handed to company bosses have been in sharp focus in recent months. In October, MPs voted for Sir Philip Green to lose his knighthood after the collapse of department store of BHS – a symbolic move – while the bribery scandal at Rolls-Royce has sparked calls from Labour for the firm’s former chief executive Sir John Rose to lose his honour. ...
Five-minute guide to haggling your way to a better deal image
Source : Daily Express [Read Article] Sunday 22nd of January 2017 12:01:00 AM
.... . Walker says you should choose your store and staff member carefully: “Sales assistants at the big department stores do not have the power to give you reductions but the floor manager might. ...
Harrods stops taking cut of tips in its restaurants after protests image
Source : Guardian [Read Article] Friday 20th of January 2017 12:39:28 PM
. Luxury department store Harrods has agreed to let staff keep 100% of the money raised from restaurant tips following a union campaign. ...
Let’s move to Streatham, south-west London: forget what you know image
Source : Guardian [Read Article] Friday 13th of January 2017 04:30:01 PM
.... Streatham was glam. The High Road is still lined with art deco mansion blocks, former department stores and cinemas from the era of Clark Gable. ...
M&S: Good news finally? image
Source : BBC [Read Article] Thursday 12th of January 2017 12:23:35 PM
....Elsewhere, there was good news tempered with caution about the coming year. This was best expressed at the John Lewis Partnership, which reported like for like sales growth of just under 3% at both the department store chain and the grocery business, Waitrose. ...
John Lewis to cut staff bonus after pound’s Brexit slide image
Source : Guardian [Read Article] Thursday 12th of January 2017 09:25:01 AM
....Its decision to cut the payout comes despite a strong Christmas and expectations of higher profits for the year to the end of January, thanks to lower pension costs. Sales for the John Lewis department store business, including online, rose by 2. ...
M&S beats Christmas sales forecast in clothing and homeware image
Source : BBC [Read Article] Thursday 12th of January 2017 08:18:05 AM
....The retailer also announced plans to close some of its overseas stores. Among the key trading updates on Thursday, the John Lewis Partnership said like-for-like sales at its department stores had risen 2. ...
Good Christmas? M&S set to surprise as retailers reveal festive sales image
Source : Guardian [Read Article] Sunday 8th of January 2017 02:14:45 PM
....M&S is among the big retailers lining up this week to reveal sales over the critical trading period. Major supermarkets Morrisons and Tesco, as well as department store chain John Lewis, are expected to have weathered the storm but groups exposed to a tough clothing market and a steep decline in high street shoppers have suffered. ...
Could Next be the new M&S: profitable but terminally unexciting? image
Source : Guardian [Read Article] Saturday 7th of January 2017 04:00:23 PM
....The retailer is still generating big profits, and the cerebral Wolfson is by no means in panic mode. In recent years he has focused on larger department store-style locations and points to a downturn in Christmas shopper numbers in those shops of only 4%. ...
Macy's shares fall 13% on job cuts plan image
Source : BBC [Read Article] Thursday 5th of January 2017 02:29:40 PM
. US department store chain Macy's has seen its share price fall 13% as it cut profit forecasts and announced plans to shed 10,100 jobs to save $550m (£447m). ...
Harrods pledges to improve catering staff tips after strike threat image
. The department store Harrods has promised to improve the tipping system for staff in its restaurants, following a threat of industrial action. ...
Tiger makes millions for couple who brought Danish store to UK image
Source : Guardian [Read Article] Monday 2nd of January 2017 06:45:29 PM
....The brand was described by one retail analyst as being “a bit like an Ikea marketplace on speed”. When BHS collapsed last April, Mary Portas, the retail consultant, said one way to save its department stores would be to emulate Tiger. ...
BHS liquidator pores over details of   Green and Chappell property deals image
Source : Guardian [Read Article] Monday 2nd of January 2017 04:16:53 PM
....BHS collapsed into administration last April, leading to the loss of 11,000 jobs and leaving a £571m pension deficit. A parliamentary investigation into the failure of the department store chain concluded that it had been systematically plundered under the ownership of Green and Chappell. ...
Harrods workers say company keeps up to 75% of restaurant service charge image
....Harrods has been accused of shortchanging its restaurant staff in the latest row over how service charges added to diners’ bills are shared among workers. The union representing Harrods waiters and kitchen staff believes the Qatari owner of the upmarket London department store retains up to 75% of the service charge, a situation it says reduces their pay by up to £5,000 a year. ...
Observer business agenda’s review of the year image
Source : Guardian [Read Article] Sunday 1st of January 2017 09:00:02 AM
.... Both men were then hauled in front of a joint select committee to explain themselves, an exercise that only succeeded in trashing their reputations some more. The MPs found that the department store had been subjected to “systematic plunder” by former owners, while Green gave “insufficient priority” to the pension scheme. ...
How attempts to save BHS, and 11,000 jobs, were doomed by chaos and mistrust image
Source : Guardian [Read Article] Saturday 31st of December 2016 04:00:32 PM
.... These documents showed that the £10m that Retail Acquisitions had put into BHS had been borrowed, that it had taken a £7m cut from the sale of BHS’s head office, North West House on London’s Marylebone Road, and that Chappell and his personal company, Swiss Rock, had been paid £1. 8m after buying the department store chain. ...
Brexit, strikes and pay revolts: the year in business image
Source : Guardian [Read Article] Wednesday 28th of December 2016 06:00:27 AM
.... She was named commercial director last year, with responsibility for shops and product development. It’s a big gig, running “middle England’s” favouite department store, but she is taking over at a tricky time: profits slumped 31% to £32m in the first half of this year as the chain struggled to adapt to the shift to online shopping. ...
BHS workers swamp Charles Dickens charity with help requests image
Source : Guardian [Read Article] Tuesday 27th of December 2016 05:53:33 PM
....A hardship charity once chaired by Charles Dickens has been overwhelmed with requests for support from struggling shopworkers in the months since the collapse of BHS. The failure of the department store chain earlier this year, which triggered 11,000 job losses, has led to a record number of applications to the Fashion and Textile Children’s Trust for help. ...
Boxing Day footfall tumbles as shoppers go online image
Source : Guardian [Read Article] Monday 26th of December 2016 07:12:36 PM
....In London, Harrods said it was expecting a busy Boxing Day to build on a strong run-up to Christmas when it had achieved double-digit sales growth on a year ago. The managing director of the luxury department store, Michael Ward, said butlers were on hand on Monday to serve queues of shoppers coffee and croissants. ...
Philip Green demands Dominic Chappell pays into BHS pension deal image
Source : Guardian [Read Article] Monday 26th of December 2016 03:16:29 PM
.... During his ownership, the Green family and other shareholders collected at least £580m from BHS. Chappell’s company Retail Acquisitions received payments of up to £25m from BHS despite owning the department store chain for just 13 months until it collapsed. ...
Boxing Day shoppers expected to splash out before Brexit price rises image
Source : Guardian [Read Article] Monday 26th of December 2016 07:37:30 AM
....”. Retailers in London’s West End are expected to outperform the national picture as the devaluation of sterling since the Brexit vote draws high spending tourists to its high end department stores and luxury brands. ...

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