More than 200 UK shopping centres, collectively worth around £7 billion, are at risk of closure if their owners fail to secure fresh equity for refinancing and ‘much-needed redevelopment’, according to asset management company APAM. Retail sales growth slowed in the year to October, following four consecutive months of firm sales during the summer, according
There are concerns for the future of Debenhams as the department store chain looks set to post the biggest loss in its 240 years history – almost £500million – and gets ready to close 50 of its 166 stores. The closures may results in as many as 4,000 job losses. There is now even more
Alan Monahan writes: I once worked in the same office as a young woman who thought nothing of ‘buying’ a dress on a Friday and returning it to the store for a refund the following Monday. Challenged by colleagues about this practice – which also extended to having pieces of jewellery on approval – she
The Office for National Statistics (ONS) reported that retail sales in August rose by 3.3% compared with the same month a year earlier and by 0.3% on a month-to-month basis. This has surprised economists who had expected shoppers to rein in their spending. The unexpected results were driven by a rise of 4.5% in the
Alan Monahan writes: As with my own appearance, the face of Autumn Fair is much changed from the show I first visited more than 20 years ago. But like me, it has managed to keep a spring in its step despite some shrinkage! And while some exhibitors at the NEC were bemoaning the fact that
As an incentive for people to shop in person and for online retailers to lease physical stores, international property firm Colliers International suggests that the government should create a two-tiered VAT system where shoppers would be charged 15% for purchases in stores and 22.5% for online transactions. Meanwhie, Tesco chief executive David Lewis has again
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