Latest property news – Page 29
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NewsCVAs ‘delay inevitable failure’, research suggests
Company voluntary arrangements (CVAs) are delaying “inevitable future failure” rather than helping businesses secure longer-term futures, new analysis suggests.
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NewsTopshop to close Westfield Stratford store after lease expires
Topshop in the Westfield Stratford City shopping centre is set to shut after its lease runs out.
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NewsRetail job losses reach highest level in more than two decades
Almost 150,000 retail jobs were lost in 2019 as the industry battled high costs and changing shopping habits.
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NewsSales off to slow start as Boxing Day footfall slides
Boxing Day Sales got off to a slow start yesterday for bricks-and-mortar stores as footfall declined in the early part of the day.
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NewsShoppers shun ‘Super Saturday’ as footfall declines
Footfall during the Saturday before Christmas declined year on year according to new data.
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NewsSuning to open 10,000 stores in 2020 in £4.4bn expansion splurge
Chinese retail titan Suning has revealed plans to open 10,000 new stores and create 8,000 jobs next year as part of an ambitious RMB 40bn (£4.4bn) expansion strategy.
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NewsQueen’s speech brings business rates disappointment for big retailers
Plans revealed in today’s Queen’s speech to reform business rates have prompted disappointment because of their limited nature.
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NewsWHSmith shareholders back $400m US deal
WHSmith investors have formally backed the retailer’s $400m takeover of US giant Marshall Retail Group (MRG).
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NewsDebenhams faces landlord challenge over rescue plan
One of department store group Debenhams’ landlords is seeking to challenge the retailer’s rescue plan by overturning a legal decision on its CVA.
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NewsArcadia seals £310m loan on Topshop flagship store
Sir Philip Green’s Arcadia has refinanced the £310m loan on its flagship Topshop store on London’s Oxford Street.
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NewsSports Direct blames Harrods for Milton Keynes HoF closure
Sports Direct has blamed Harrods for the closure of its Milton Keynes House of Fraser, which will see the loss of 172 jobs just before Christmas.
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NewsM&S set to downsize biggest flagship stores
Marks & Spencer is to downsize around 20 of its largest stores in expensive city-centre locations as part of its turnaround plan.
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NewsSports Direct puts Lillywhites London lease up for sale
Sports Direct’s lease of the six-floor Lillywhites store on London’s Piccadilly has reportedly been put on the market.
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NewsM&G suspends property fund as Brexit and retail landscape take toll
Property fund M&G has banned all withdrawals, blaming Brexit and the retail downturn for the decision.
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NewsQuiz targets rent reductions in bid to turnaround flagging store estate
Quiz has said it is in discussions with landlords on stores with leases coming up to expiry looking for an average of 30% rent reductions as it battles to turnaround the flagging fortunes of its estate.
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NewsOcado to open ‘mini’ customer fulfilment centre
Ocado has revealed it is opening a sixth customer fulfilment centre in Bristol as part of ongoing growth plans.
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NewsTOFS sales fall but boss heralds CVA for improved profitability
The Original Factory Shop (TOFS) has recorded declines in full-year sales and profits but boss Emma Fox credits the retailer’s CVA for improving profitability.
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NewsBaird Group appoints Savills to spearhead store expansion
Menswear specialist Baird Group has appointed real estate advisor Savills to spearhead the growth of its store portfolio across the UK and Europe.
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NewsIkea profits fall despite sales rise
Ikea’s full-year profits fell despite its online sales soaring 50%.
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NewsRevo names Vivienne King chief executive as Cooke departs
Revo has named Vivienne King as its new chief executive, replacing departing boss Ed Cooke who will be stepping down after 11 years in March.