Next to reopen 66 more High Street Stores | UK Market Update

  • Jun 22, 2020 BST
  • Team Kalkine

JD Sports has warned it is looking at a number of 'strategic options' for Go Outdoors, just four years after buying the company for £112million. The chain has filed a notice of intent to place the fishing, cycling and camping retailer in administration, with more than 2,000 jobs at risk. JD Sports said in a statement on Monday: "The Group can confirm that it has considered a number of strategic options for Go and that Go's directors have lodged the Notice in Court. A string of retailers including Oasis, Warehouse, Laura Ashley and Debenhams have also called in administrators since the crisis hit and hundreds of high street jobs have been shed.

Wirecard has said that €1.9bn (£1.7bn) in funds missing from its bank accounts may not exist, as the accounting scandal at the German payments company deepens. The firm processes tens of billions of euros in credit and debit transactions each year and is a former darling of Germany’s tech sector. It had previously said it believed the money was held in escrow accounts at two Asian banks. The company’s longtime auditors EY were unable to trace the money and the central bank of Philippines said none of the money appeared to have entered the country’s financial system. The company’s share price halved in early trading on Monday and has fallen by 75% since last Thursday.

Fashion chain Next is set to reopen 66 stores this week, taking the total number of branches back in business to over 400. The clothing and homeware chain has been opening its stores in phases since the government eased lockdown restrictions on Monday, June 15. By Tuesday, a total of 412 shops will be back open for business. Next already reopened 50 of its "home" department shops last month. Under new policies, all stores have to maintain social distancing, allowing customers in on a one-in-one-out basis and holding onto returns and exchanged goods for 48 hours before placing them back on the shop floor.

#Fashion #JDSports #Kalkine

 


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