The British Property Federation (BPF) has written to the government urging it to overhaul UK insolvency rules. In a letter to corporate responsibility minister Lord Callanan, the group warned that the flexibility of the UK’s insolvency framework had led to an “abuse” of CVA processes which disproportionately […]

While Covid-19 lockdowns saw a slow start to luxury sales in China last year, spending on luxury “rebounded strongly,” with China’s market share of the global luxury market nearly doubling in 2020. According to the first joint research report by Bain and Company and Tmall Luxury Division, growth for […]

Topshop’s London flagship at 214 Oxford Street is closed for good, with the building it's housed in having been put up for sale. The sale of the store is being managed by agents Savills and Eastdil, the BBC reports. The three-storey building has been a retail icon since opening back in 1994, living […]

UK chancellor Rishi Sunak has announced a new 4.6 billion pound Covid relief package that will see businesses in the retail, hospitality and leisure sectors receive a one-off grant of up to 9,000 pounds. The new lockdown grants, which alone are worth 4 billion pounds, will be provided on a per-property […]

All non-essential retailers in England and Scotland have closed once again amid new, stricter lockdown measures across both countries. Scotland’s first minister Nicola Sturgeon announced Monday that, as of midnight, all non-essential stores would close, people should remain at home and schools would […]

Returns of online purchases in the UK are expected to surge on Takeback Monday, the day that most Brits will return their unwanted and ill-fitting Christmas presents. According to a study commissioned by Royal Mail, returns will increase by 63 percent on the first working day of the year, compared to […]

Over 175,000 UK retail jobs were lost in 2020 in what was a year of unprecedented difficulty for the sector, as the strain of extended store closures pushed many to the point of collapse. According to figures from the Centre for Retail Research (CRR), a total of 176,718 jobs were lost last year from […]

Turkish fashion retailer LC Waikiki has opened its first store in Uganda. The new flagship store is located in Acacia Mall, a well-known shopping centre in the capital Kampala. The opening was celebrated on 21st December with a fashion show in front of the new store, with Ugandan model Judith Heard […]

The Irish government has announced it will expand its Level 5 Covid restrictions to the entire country as confirmed cases continue to increase at a concerning rate. From midnight on 30 December, all regions of the country will enter into Level 5 restrictions until midnight on 31 January 2021. Non-essential […]

More non-essential stores across England will be forced to close this week after the UK government announced a swathe of new regions with enter into Tier 4, the strictest level of lockdown restrictions. From the beginning of Thursday 31 December 2020, areas to be placed in Tier 4 include Leicester City, […]

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