THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Retail round up - The Tuesday papers

Only 6pc of creditors to receive money from Farepak administrator, M&S risks 'special place' on High Street by cutting returns policy, British economy expected to show smaller second quarter decline, Shoemakers seek protection as retailers call for change in Brussels, Jessops restructuring puts jobs ahead of shareholders,Borders UK to close struggling Books Etc stores,

GENERAL MERCHANDISE

Retail round up - The Tuesday papers

The Daily Telegraph
Compensation cheques for customers of Farepak, the Christmas hamper business that collapsed almost three years ago, are being sent out by company administrators but only 5,900 of the 100,000 who lost out are in line for payments. Full article

High Street giant Marks and Spencer has scrapped its 90-day, ‘no quibble’ returns policy to outrage from loyal customers.The chain store decided to reduce the time limit to 35 days – “in line with the market” – but consumer groups warned it risked losing its “special” place in the hearts of British shoppers as a result.The move was introduced in April without fanfare – although the date by which clothes must be returned is printed on receipts – but there are now signs of a customer backlash with angry messages posted on online message boards. Full article.

The British economy did not shrink as much as feared in the second quarter, official figures published today are expected to show.Experts expect that a final estimate will show that gross domestic product shrank by 0.6pc in the three months to June compared with a 0.7pc contraction the Office for National Statistics gave in an estimate at the end of last month.A final upward revision will come as little surprise and follows upward revisions of industrial production and construction output data. Full article.

The Times
A trade dispute over tariffs on cheap Chinese shoes is brewing at the European Commission as Italian and Spanish footwear manufacturers prepare to fight for continued European protection against Far Eastern imports.The Commission is considering an extension of anti-dumping duties put in place in 2006 to protect the European Union’s footwear manufacturers from import surges. The measures — a 16.5 per cent duty on Chinese shoes and a 10 per cent tariff on Vietnamese footwear — are strongly opposed by retailers and most EU member states, including Britain. Full article.

Jessops, Britain’s largest photographic and camera retailer, will today come under the control of its bank, pension fund and an employee trust under a debt-for-equity swap that will leave investors with less than 5p in the pound.HSBC will take a 47 per cent stake in return for forgoing £34 million of debt. The company said that the move would save 2,000 jobs.A new company, called Snap Equity, will take control of Jessops’ assets, with the Jessops pension fund taking a 33 per cent stake alongside HSBC and an employee benefit trust, which will take a 20 per cent shareholding. Full article

The Independent
Borders UK has confirmed it plans to remove the Books Etc and Borders Express brands from the high street. The bookseller – which in July completed a management buyout backed by the retail restructuring specialist Hilco – is trying to sell its remaining seven Books Etc shops and two smaller format Borders Express stores. Full article.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Retail Human Resources Summit
Retail Human Resources Summit
Wednesday 3 October 2018
The Cavendish Conference Centre, London W1
The 10th HR Summit 2018, The Cavendish Conference Centre, London W1, 3rd October 2018
The Retail Design Summit 2018
The Retail Design Summit 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Summit 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
National Minimum Wage Breakfast Briefing
National Minimum Wage Breakfast Briefing
20 September 2018
6th Floor 1, St. Martin's Le Grand London, EC1A 4AS
National Minimum Wage Breakfast Briefing