The embattled UK retail industry was dealt another blow on Friday after news emerged that Arcadia is considering a restructuring process which could result in significant store closures and job losses.
Bullring owner Hammerson is trying to offload over £900m of property, including a number of retail parks in the UK, after seeing the retail crisis send the value of its portfolio down by almost 6% in 2018.
Mamas & Papas continued to struggle in its latest year as it reported another loss, although there were some bright spots as its online sales continued to accelerate and now make up nearly a third of its total turnover.
It’s been hard to find good news in most of the announcements made by mother-and-baby products retailer Mothercare in recent periods, but the company says it has made “strategic progress in spite of UK headwinds.”
The British government should levy a tax on retailers with online sales accounting for more than 20 percent of revenue to save traditional shopping districts, the boss of Sports Direct told lawmakers on Monday.