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The CEO and executive chairman of UK fashion retailer Ted Baker have quit in the wake of falling sales and a controversy over the valuation of inventory. The company yesterday reduced its profit forecast for the current year to a minimum pre-tax profit of £5…
British stationery brand Paperchase is now selling in Malaysia at selected MPH bookstores. According to a Malaysian Reserve report, the London-based firm – one of the largest gifts and stationery retailers in the UK – is joining brands such as Typo and…
Filipino fast-food chain Jollibee is set to open its second UK restaurant, in Liverpool. Bee World UK, part of the Jollibee Foods Corporation, has already submitted a plan to transform a Lush store on Whitechapel into its flagship restaurant in the northwest…
Indian luxury handcrafted-bags and luggage retailer Nappa Dori has launched in London. The firm’s 1400sqft location in Seven Dials on Monmouth Street is its first in Europe, adding to its seven-store network in India and an outlet in the Maldives. It features…
Honda has confirmed its western England car factory, which employs 3,500 people, will close in 2021. The Japanese carmaker announced Monday that the Swindon plant will shut in two years, “at the end of the current model’s production life cycle.” Honda makes…
Majestic Wine is reportedly looking to sell its entire UK retail portfolio to focus on its international e-commerce business, Naked Wines. Bankers at Rothschild have been contacting private equity firms to buy the British bricks-and-mortar business, which…
Primark has launched the world’s largest fashion store in Birmingham, the UK. The 160,100sqft store is built over five stories and has been officially recognised by Guinness as the largest fashion store in the world. It has effectively taken over the former…
Satellite operator Inmarsat is in talks to be acquired by a consortium of private equity investors in a deal worth $3.3 billion. UK-based Inmarsat is still negotiating with the consortium members over the possible takeover and a binding offer has not yet been…
Shares in Footasylum soared after British retailer JD Sports said it had acquired an 8.3 percent stake and could buy nearly 30 percent of its smaller rival. JD, which has used a number of corporate acquisitions to assemble its network of more than 2,400…
Toy Room, one of the most talked-about premium and international brand which has attracted visits from A-listers around the world including Jessie J, Lindsay Lohan and Nicole Scherzinger, has opened its first outlet in India in Aerocity. According to Akshay…
Xiaomi will open its first store in the UK next week. The fast-growing Chinese electronics company will also sell its smartphones through the Three network, giving the brand exposure in hundreds of stores across the UK and in the Republic of Ireland. The…
Philippine fast-food chain Jollibee has hinted at opening its first store in the United Kingdom. The potential of a Jollibee UK debut was revealed in a tweet featuring a photo of its mascot bee with British Ambassador to the Philippines Daniel Pruce,…
Upscale UK department store Harvey Nichols doubled its pre-tax earnings this year to £14.7 million – a stark contrast to rival chains. Group sales rose 9 per cent to £210 million during the year to March 31, the retailer’s high-end positioning seemingly…
Brits are increasingly turning to retailers who offer self-service payment options, with 57 per cent preferring to avoid human interaction while shopping, new research shows. Research by delivery management company Whistl found that when it comes to buying…
Marks & Spencer UK reportedly plans to axe more than 300 jobs across the UK as it continues its restructure to counter falling sales. As reported seeing documents proposing 351 job cuts, almost all of them in management roles, including operations, section…
It is thought to be the biggest deal for a retail warehouse site so far this year and is the first time Korean investors have stepped into the UK retail sector. The 195,000 sq ft shopping park called Gallagher off Junction 9 of the M6 is anchored by Next and…
