La Senza may become the next victim of the
economic downturn having appointed KPMG to restructure the
business. According to the Financial Times, KPMG will advise the
lingerie retailer on its options, including administration or a
company voluntary agreement (CVA), which could see it close some
of 158 UK stores.
Faring better is Superdry owner Supergroup,
which today announced that in the 26 weeks to 30th October, sales
were up 51 percent to £136.1 million and reported pretax
profit was £20.3 million, up 39 percent. The company says it
has resolved its distribution problems and restored replenishment
in its UK retail business, though it has cost the business almost
£9 million in lost profits.
Argos has opened pop-up stores in Waterloo and
Paddington train stations. The outlets enable customers to scan
QR codes using their smartphones to reserve an item for
collection at a later date.
Cosmetics marketer Avon is separating the roles
of chairman and chief executive, effective 2012. Andrea Jung will
become executive chairman and the company will begin an external
search for a chief exec.
Creditors of Timscris, which worked with
newspapers to create reader-offer catalogues as well as operated
a fulfilment division called Templar Marketing
Services, are meeting with the company’s directors and
administrators from KSA Group today. Timscris’s own-brand title
LifeStylesatHome has also entered voluntary
liquidation and a creditors meeting was held last month.
Mary Portas has published her review into the future of the
British high street. The purpose of the Portas review is to
identify what the government, local authorities, businesses and
the general public can do to promote economic growth and create
new business models that are more relevant to the consumer. The
full review is available at the Department for Business, Innovation and Skills’
website. Among the ideas are a “virtual high street”, with
online information on all things local and making more of the
local “Post Office” so that it becomes a hub for collecting
deliveries for puchases made online–rather than using
out-of-town malls or petrol stations.
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