
If we could be a fly on any wall, it would be the Arcadia boardroom on Tuesday with the board set to meet to talk about the future of the company’s various fashion chains in the UK and beyond, and its expected CVA.
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If we could be a fly on any wall, it would be the Arcadia boardroom on Tuesday with the board set to meet to talk about the future of the company’s various fashion chains in the UK and beyond, and its expected CVA.
Arcadia is believed to have struck a deal with bank giant HSBC for the latter to act as a guarantor of its ability to pay its suppliers as it works towards a possible CVA, which some analysts are expecting this week.
From Nike Inc and Under Armour to Levi's, major brands are distributing clothing and accessories directly through Amazon.com, attracted by more than 100 million Prime members and its advanced delivery network.
Manchester-based The Hut Group has increased its bank borrowing to $1bn (about £766m) and welcomed Shanghai Pudong Development Bank as an investor to support “major investments in beauty, technology and infrastructure”.
Even if LVMH is right that Chinese demand is as strong as ever, there are still plenty of danger signs for luxury stocks this year, from slowing U.S. growth to a drop in Swiss watch exports.
Analysts have said recent decisions by the Competition and Markets Authority (CMA) suggest it won't shy away from intervention, and some conditions it could apply may prove too costly to make a deal worthwhile.
The lenders to youth-focused retailer Jack Wills have reportedly called in advisors as the fashion business seeks a funding injection in the face of continuing tough times in UK retail.
French companies have this week revealed some 60 million euros (£54.2 million) of lost business from anti-government protests rocking the country.
Tory Burch, LLC, has named Pierre-Yves Roussel, husband of the brand's eponymous designer and former LVMH executive, as the company's new chief executive officer, beginning in early 2019.
UK store portfolios could be cut by as much as 20% as the migration to online, Brexit uncertainty and increasing consumer caution continue to bite, according to a quarterly update from KPMG/Ipsos Retail Think Tank (RTT).