More than 6,000 jobs are at risk as Comet edges closer to administration. According to the Guardian, Deloitte has been lined up to handle the administration of the 240 stores. A Telegraph article chronicles its rise and fall.
Apple is planning to open up to 35 stores next year, just days after announcing the departure of retail chief John Browett, reveals the Telegraph.
The North West Business Desk reports that losses at upmarket apparel retailer Flannels narrowed from £256,251 to £143,651 in its last financial year before selling a controlling stake to Sports Direct International in July. The piece notes that in the year ending March, Flannels’ turnover rose per cent to £16.8 million. In May, it completed a creditors voluntary agreement (CVA), which saw it close a number of loss-making stores.
Charles Tyrwhitt’s Nick Wheeler is interviewed in Management Today. Choice quote: “Entrepreneurs are either hares or tortoises. The former is
in a mad rush, raising money, building the business, floating it, exiting. I’m a tortoise, plodding along. For me, compound growth is the most wonderful thing.”
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