Debenhams officially filed for administration on Thursday in a widely flagged move to protect it from the worst effects of the coronavirus crisis. It's the second time in a year the chain has gone into administration.
Unibail-Rodamco-Westfield has announced pay cuts of between 20% and 25% for its senior execs with the unpaid salaries and fees being used to support efforts to fight the coronavirus in the countries in which it operates.
The UK’s online sales of nail products are rising during the Covid-19 lockdown, NPD Group said on Wednesday, as consumers still long for their treats and beauty continues to be seen as an affordable way to achieve this.
It may come as no surprise that footfall in the UK declined sharply in late March, but it's worrying that it moved up again last Saturday and Sunday as UK consumers looked for something to do in the warm weather.
Loungewear, active clothing, lingerie and swim are key focuses for consumers under lockdown as they seek comfort while working (and working out) at home and also look forward to post-lockdown holidays.
Stockmann's parent company is filing for corporate restructuring as cash flows are dented by the coronavirus. But its department stores and its Lindex chain won't be affected, the company said on Monday.
GfK only issued its regular monthly consumer confidence report last week, but on Monday it added that confidence has dived with a new reading of -34 by the end of last month. In March 2019, it was -13.