Category: Clothes

TFG London, parent of Whistles and Hobbs, is reported to be among those considering a bid for fashion and lifestyle brand Joules which was placed into administration on 16 November.

According to Sky News, TFG London, which is part of South African retail empire The Foschini Group, had been in talks with Joules before its fall into administration about taking a substantial stake in the previously listed business.

It is now said to be in negotiations with Interpath Advisory, which is handing the administration of Joules about a potential rescue deal. However it is far from the only interested party with Marks & Spencer, NEXT and Frasers Group all said to be weighing up a possible bid. As well as being sold via its owned channels, Joules is also available through Next, Marks & Spencer and John Lewis.

Joules employs 1,600 staff and operates 132 stores, which are

Iconic British department stores like Harrods and Selfridges will see their business rates bills slashed by up to half as a result of the Treasury’s new package of support revealed in yesterday’s Autumn Statement.

As part of the new budget, the Treasury announced a shake-up to business rates which will provide tax boosts for many high street businesses, with large warehouses for online rivals taking on more of the cost.

This could amount to combined savings of around £15 million for Harrods and Selfridges, according to analysis from real estate adviser Altus Group.

It comes as the Government said there would be a revaluation of more than half a million retail properties across England and Wales, meaning the rate of business tax they pay could change.

Furthermore, the Chancellor Jeremy Hunt pledged to remove the downwards cap – meaning businesses who see falling business rates bills as a result of

To say the backdrop against which fashion brands must operate today is ‘challenging’ is an understatement.

Consumer confidence has never been more fragile and more sensitive to market movements than it has in the past 24 months. A perfect storm has been brewing in the UK thanks to a succession of seismic events from Brexit to the pandemic, the death of HM The Queen, and continued disruption to retail footfall and e-commerce deliveries, brought about by ongoing strikes across the Royal Mail and rail networks. 

Political uncertainty has certainly not helped matters either and consumers are acutely tuned into it. Footfall across UK retail destinations dropped by 3.7% in October as Britons put the brakes on shopping trips following the announcement of former Prime Minister Liz Truss’s ‘mini budget’, which sent the Stock Market into a spiral.

As we head into the ‘Golden Quarter’ with a growing cost of living