Administrators have been called in at lossmaking retailer
Past Times. Upon appointment, KPMG made 67
redundancies, including 30 staff from Past Times’ head office and
37 staff from its warehouse, leaving a central workforce of 31.
Gifts retailer Past Times had already closed 46 stores resulting
in 507 redundancies and plans to close a further 72 temporary
pop-up shops. The remaining business, comprising 51 stores and
500 employees continues to trade under the control of the
administrators. Should a buyer not come forward, the business
will be wound down.
Talks to save apparel retailer Peacocks are
ongoing following the company’s advisers filing a notice of
intention to appoint an administrator. The Telegraph reports that Richard Kirk,
Peacocks’ chief executive, has secured “provisional
support” from RBS and Barclays. If a deal can’t be reached,
notes the paper, “it will be the biggest retail collapse in
job loss terms since Woolworths failed in
2008”.
Electricals retailer Dixons Retail recorded a 3
per cent decline in underlying group sales for the 12 weeks ended
7th January. The UK and Ireland business suffered a 6 per cent
slump in sales, while the northern Europe division delivered a
rise of 8 per cent.
Following the successful launch of its new website
StanleyGibbons.com at the end of May, online
sales for the second half of the year at the collectibles
specialist were up 67 per cent year on year. A new office in Hong
Kong, a move to larger corporate and investment sales office in
Jersey and a diversification of its product range to include rare
coins, commemorative medals and military medals, also contributed
to a “growth in sales, profit and operating cash
generation”, said a company statement. The business is
confident in its prospects for 2012 and beyond and says its will
continue to develop its online proposition, with the internet
“progressively becoming our primary sales channel”.
Electronic and maintenance products distributor RS
Components has released a specialist app for its branch
network. Optimised for the iPad, iPhone and Android smartphones,
MyLocalRS app helps customers find, locate and contact their
local RS branch. It features the latest offers and
“Manager’s Specials” in each of the 16 UK branches
and also offers a delivery checker to help customers monitor
courier delivery times and prices. Further, the app features a
series of videos highlighting the RS range of customised products
as well as advising customers on how to reduce time for
packaging, processing, stock handling and goods-in.
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