Highcross Shopping Centre, previously described as the flagship destination in the Hammerson property empire, has entered receivership. Global property specialists Savills stepped in as receivers at the Leicester shopping mall on February 9 according to letters posted last week to shops and business operating there. Tenants have been told Savills is involved solely with the […]
LEICESTER SHOPPING CENTRE GOES INTO RECEIVERSHIP Read More »
The Wilko discount store chain has announced the equivalent of 400 jobs is set to go as it cuts costs in a “fight for survival”. The chain had already announced it plans to cut 95 jobs at its contact centre in Worksop after outsourcing to a company in South Africa. A further 150 assistant store
STORE CHAIN CUTTING JOBS IN FIGHT FOR SURVIVAL Read More »
Accountancy watchdog the Financial Reporting Council has launched an investigation into big four firm PwC’s auditing of shopping centre and leisure group Intu Properties plc. The audit and accountancy regulator will look at PwC’s handling of Intu’s 2017 and 2018 accounts, a period before the firm’s collapse into administration. Following a drop in rents brought
INVESTIGATION LAUNCHED INTO FAILED SHOPPING CENTRE GROUP AUDIT Read More »
Profits at Leicestershire headquartered homewares giant Dunelm dropped by a sixth in the second half of last year, partly due to inflationary pressures. The business reported pre-tax profits of £117.4 million for the half year, down from £140.8 million a year before. That came despite its sales rising 5 per cent to £835 for the
DUNELM SEES PROFITS DROP AS INFLATION CONTINUES Read More »
From Left to Right: Ehte Sham Dundee and Angus Chamber, Aaron Neil, Duty Manager of Dundee Innoflate and John McGee, Chairman of Innoflate Family leisure activity provider Innoflate is the latest brand to show its support for the Scotland Loves Local Gift Card initiative, praising the distribution of the gift card to low income households
SCOTTISH BRANDS BACK GIFT CARD INITIATIVE Read More »
The Poundstretcher discount chain has announced a 10% pay rise for its store workers following a similar rise just over a year ago. The business – which recently came out of a Compulsory Voluntary Arrangement (CVA) – said it would give almost 4,000 employees the pay increase from April 1. It applies to anyone who
POUNDSTRETCHER GIVES WORKERS ANOTHER PAY RISE Read More »
The future looks unclear for Belfast’s two Paperchase stores after the company went into administration before the brand was rapidly purchased by Tesco. The retailer hired administrators on Tuesday morning after the struggling business was unable to secure a rescue sale. Tesco has announced a deal to buy the brand and intellectual property from the
FUTURE UNCERTAIN FOR PAPERCHASE BELFAST STORES FOLLOWING ADMINISTRATION Read More »
Morgan Sindall Construction’s Scotland team has been awarded a contract worth £2.86m to reconstruct the prominent Poundland building, located at 161-163 High Street, in the heart of Elgin, north Scotland. Work has already started on the Category B listed building and is taking place across three storeys, with the store situated on the ground floor
CONSTRUCTION BEGINS FOR HIGH STREET CHAIN IN ELGIN Read More »
Well known clothing retailer M&Co has announced that it is going into administration just two weeks before Christmas. Founded in Paisley in 1834 as a pawnbrokers the business then known as Mackays moved to selling clothes in 1951. They rebranded the brand as M&Co in 2005. Administrators were called in on Friday before statements confirming
SCOTTISH RETAILER M&CO FALLS INTO ADMINISTRATION Read More »
Snappy Shopper has raised a seven-figure sum from existing investors Highland Technology, Kelvin Capital and Scottish Enterprise. The funds will be used to invest in the convenience store home delivery platform’s growth plans and core technology. The Dundee-based business intends to capitalise on the slowdown of the dark store operating model and capture consumer demand
SNAPPY SHOPPER RAISES MAJOR GROWTH FUNDING Read More »
