Maplin Electronics plans to open 100 stores and create around 900 jobs after securing a £20 million credit facility from Lloyds Bank, reports the Yorkshire Business desk. Maplin will also use the funding to invest in its website. Maplin currently has a turnover of more than £200 million and employs 2,500 staff.
Apparel retailer New Look has contacted its suppliers to reassure them that it’s not about to enter administration, writes the Financial Times. The move comes after an industry blog claimed the company was poised to carry out a voluntary arrangement.
John Browett, the former Dixons boss who was drafted in by Apple to become the firm’s senior vice president of retail earlier this year, has announced he is leaving the business after only six months in the job, reports the Telegraph. According to the piece, Apple offered no explanation for his departure.
Royal Mail Group has announced a £75 million, four-year investment programme for its UK express parcels business, Parcelforce Worldwide, creating 1,000 new UK jobs. The expansion is part of Royal Mail Group’s strategy to grow its parcels businesses in the UK and overseas and “convert the rise in parcel volumes into profitable growth,” said chief executive Moya Greene in a statement. In the last reported financial year, Royal Mail Group’s parcels businesses accounted for 48 per cent (£4.2 billion) of total revenues (excluding Post Office Ltd).
Share